EFTA Document EFTA01452580

28 January 2014 Brokers. Asset Managers & Exchanges Alternative Asset Manager Initiation Changes in business mix may drive valuation differences over time Figures 10-14 show our forecasts for business mix for each of the Alts through 2016, by measure of pretax economic income by business line, and by revenue type. While there are numerous observations to make, we highlight the following for each Alt: APO's business mix (Figure 10) should shift sharply toward credit in 2014, as the acqui