75 1.75 US Europe Sector Allocation 2012 2012 Energy Materials Industrials Discretionary Staples Healthcare Rnandals Information Tech. Telenommmications Mines Japan 2012 EM 2012 (s) 4.6% -3.0% 0.2% 6.4% 15.0% 15.8% 15.3% 21.4% 23.9% 32.1% 10.8% 15.8% 17.9% 17.6% 28.8% 30.0% 14.8%