EFTA Document EFTA01452574

28 January 2014 Brokers. Asset Managers & Exchanges Alternative Asset Manager Initiation Earnings profiles in 2014 should also remain supportive, with increasing realizations generating good sequential distributable earnings growth for at least the next several quarters. However, longer-term as the economic cycle matures, fears of a slowdown or recession may percolate and this could become negative for the stocks if realizations begin to wane, especially if the Alts' valuations have impr