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sd-10-EFTA01452622Dept. of Justice

EFTA Document EFTA01452622

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28 January 2014 Brokers, Asset Managers & Exchanges Alternative Asset Manager Initiation Figure 2' Average Forward Pits (NTM) for Alts vs. Asset Managers 20x 1.8x 16x 14x 12x 10x CsS*1 CiG Cis?' e s cSs 0 O ~ , c i , 0 c s " , " c i s , 04' 4'' 41 41 .;e# 1',," 441 n.s. 4% ,,,\ tx % 4 e41 .\\41 4 41 4 e N N -Alt's -AM's ••••••58iP 500 Sans These Roan Owl Dal. Int Five key themes to drive the stocks this year Within the industry section of this report, we at

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Dept. of Justice
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sd-10-EFTA01452622
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