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I've seen that I've misrepresented the morningstar categories. It's actually more ambiguous:

North America
UK/Western Europe
Latin America
Asia ex-Japan
Not Classified

So I agree with you that I could combine the US and Candada/Bermuda and equate UK/Western Europe with Developed Europe. Japan could be developed Asia, but I would be omitting South Korea and Singapore. As you can see, EMEA (emerging Europe, Middle East and Africa) are not in the list at all, but might pop us as "other" or Not Classified. So it's not really that straight forward at all.

How do you personally do this, or if MF Global Gains maintains its own portfolio, how does the team track and break down global allocations?
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