In stark contrast to all others, Japan was the only region to report a decline in the dollar value of investments, as the country continued to struggle against growing risks of deflation and an underperforming market. Conversely, North America led the gains with +10.6%, followed by an 8.0% rise in Latin America. On a portfolio allocation change basis, North America was the only region that saw an increase as investors looked to expand their exposure amid strong market performance and positive economic indicators. Asia/Pacific and Japan posted the largest declines during signs of slowing economic growth and amid underperforming equity market performance.