ahaa hisp allocation - rev growth ssg study_brief v4!19!12

Upload: santiagosolutions

Post on 05-Apr-2018

234 views

Category:

Documents


0 download

TRANSCRIPT

  • 8/2/2019 AHAA Hisp Allocation - Rev Growth SSG Study_Brief v4!19!12

    1/29

    9Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c, =*6*>79>

    ^dxb}dl Iw~b` 92 >79> #Kd}|`d"

  • 8/2/2019 AHAA Hisp Allocation - Rev Growth SSG Study_Brief v4!19!12

    2/29

    >Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c, =*6*>79>

    Injt| |cd It|cj~ ( ]jt~md}

    Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c

    \cd }|tlr vi} mjeeb}}bjkdl nr ICII} ^d}di~mc Mjeeb||dd ikl ldxd`jwdl ikl

    dsdmt|dl nr ]ik|bifj ]j`t|bjk} F~jtw #]]F", i f~jv|c }|~i|dfr mjk}t`|ikmr+

    Bkldwdkldk| ed|cjlj`jfbmi` ~dxbdv wd~hj~edl nr L~+ M~b}|bki Fi~mbi, w~jhd}}j~ jh

    ei|cdei|bm} ( }|i|b}|bm} i| T]M+

    Hbkikmbi` ~dxdktd f~jv|c li|i ds|~im|dl h~je mjewikbd} 97O}+

    Wi~dk| mjewikr il }wdkl li|i hj~ >778%>797 Cb}wikbm edlbi ikl kjk%Cb}wikbm

    edlbi mj``dm|dl h~je \cd Kbd`}dk Mjewikr+

    Mjk}ted~ cinb|}, i||b|tld} ikl xi`td} nr FhO ^jwd~ ( FhO E^B }rklbmi|dl }|tlbd}

    vb|c }iew`d jh 4=O #}iew`bkf ld|ib`} bk Iwwdklbs D"

  • 8/2/2019 AHAA Hisp Allocation - Rev Growth SSG Study_Brief v4!19!12

    3/29

    =Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c, =*6*>79>

    Nimof~jtkl

    Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c

    ]bkmd 9223, ICII ci} nddk cd`wbkf b|} edend~} }d~xd b|} mj~wj~i|d m`bdk|}

    |c~jtfc n~dio|c~jtfc bkldwdkldk| }|tlbd} |ci|

    bkm~di}d tkld~}|iklbkf jh vci| b| |iod} |j vbk |cd ei~od|,

    }ci~d kdv mjkmdw|}

    ikl bldk|bhr nd}| w~im|bmd} jh ei~od|bkf |j @i|bkj}+

    Ej}| ~dmdk|`r, bk Jm|jnd~ >799, Wi~| 9 jh ICII} }|tlr }d~bd} jk l~bxd~} |j

    f~jv|c hjtkl i }|~jkf wj}b|bxd mj~~d`i|bjk nd|vddk i``jmi|bjk jh il ~d}jt~md}

    ikl |jw`bkd f~jv|c+

    Cb}wikbm ei~od|bkf Nd}|%Bk%M`i}} mjewikbd} cixd i }t}|ibkin`d mjewd|b|bxd

    f~jv|c ilxik|ifd jxd~ |cd @iffi~l}+

  • 8/2/2019 AHAA Hisp Allocation - Rev Growth SSG Study_Brief v4!19!12

    4/29

    79>

    Mci``dkfd

    Mjewikbd} mci``dkfdl nr ikdebm f~jv|c ej~d |cik dxd~

    Mjk}ted~} cixd mcikfdl? ej~d hbmo`d |jlir

    Dmjkjebm ljvk|t~k vb`` eiod mjk}ted~} ej~d h~tfi` ikl xi`td%j~bdk|dl jxd~ |cd `jkf ~tk

    \dmckj`jfr ikl kdv edlbi m~di|d nj|c jwwj~|tkb|bd} |j ~dimcitlbdkmd} ikl mjew`dsb|r i} vd``

    Wj}}bn`d ^d}d| jh dmjkjer mjt`l }|~tm|t~i``r bewim| md~|ibk }dm|j~}

    ikl ajn}

    Mcikfbkf ldejf~iwcbm} #ifd" ikl et`|bmt`|t~i` |~dkl} m~di|d kdvwj|dk|bi` }jt~md} hj~ f~jv|c

    Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c

  • 8/2/2019 AHAA Hisp Allocation - Rev Growth SSG Study_Brief v4!19!12

    5/29

    4Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c, =*6*>79>

    Mci``dkfd

    I`` mjewikbd} cixd f~jvbkf mci``dkfd jh ni`ikmbkf

    mjewd|bkf kddl}9+ Cj`lbkf jk |j Fdkd~i` Ei~od|

    >+ Hbklbkf kdv f~jv|c

    =+ Miw|t~bkf hib~ }ci~d jh f~jv|c ei~od|}

    Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c

  • 8/2/2019 AHAA Hisp Allocation - Rev Growth SSG Study_Brief v4!19!12

    6/29

    8Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c, =*6*>79>

    Cb}wikbm Ei~od| Cbfc`bfc|}

    Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c

    EI^OD\ ]BQD

    >797 Wjwt`i|bjk 47+6E9

    >799 Cb}wikbm ]ci~d jh T] 96$> 9 bk 8

    F^JV\C

    Cb}wikbm Wjwt`i|bjk >777%>797 MIF^ x Kjk%Cb}wikbm =+8$ x+ 7+4$=

    ]ci~d jh \j|i` T] >777%>797 F~jv|c 48$797%>7>7 679> D}|bei|dl Ntrbkf Wjvd~ ,9+> \~b``bjk4

    Cb}wikbm Ntrbkf Wjvd~ >777%>797 MIF^ x+ Kjk%Cb}wikbm 6+3$ x+ =+797 Mdk}t} IM] > ]]F Iki`r}b} jh Mdk}t} 48 ]d`bf Mdk|d~ i| |cd Tkbxd~}b|r jh Fdj~fbi 6 Nt~dit jh @inj~ ]|i|b}|bm}

  • 8/2/2019 AHAA Hisp Allocation - Rev Growth SSG Study_Brief v4!19!12

    7/29

    6Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c, =*6*>79>

    B} |cd~d i }bfkbhbmik| lbhhd~dkmd bk |cd ~dxdktd f~jv|c ~i|d i||ibkdl nr

    MWF mjewikbd} vcbmc ld}bfki|d cbfcd~ hjmt} ikl ~d}jt~md} |j |cd

    Cb}wikbm ei~od| ikl |cj}d |ci| hjmt} `d}}:

    Vci| lj |cdr lj lbhhd~dk|`r:

    Vci| him|j~} lb}|bkftb}c mjewikbd} |ci| miw|t~d Cb}wikbm f~jv|c

    }tmmd}}ht``r h~je |cj}d |ci| tkld~wd~hj~e vb|c |cb} }dfedk|:

    ]|tlr Jnadm|bxd}

    Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c

  • 8/2/2019 AHAA Hisp Allocation - Rev Growth SSG Study_Brief v4!19!12

    8/29

    3Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c, =*6*>79>

    ]|tlr Xi~bin`d}

    Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c

    Iff~dfi|d Cb}wikbm I``jmi|bjk >778%>7971 Bkldwdkldk| xi~bin`d

    9+ \cd bkwt| ndbkf mcikfdl wj}}bn`r

    bewim|bkf dxdktd MIF^+

    >+ \cd $ jh |j|i` ilxd~|b}dedk|lj``i~} }wdk| bk \X, ^ilbj, ikl W~bk|

    #wd~ Kbd`}dk |~imobkf" i}}bfkdl |j

    Cb}wikbm%mdk|~bm edlbi mcikkd`}

    |c~jtfcjt| >778 |j >797+

    >778%>797 ^dxdktd MIF^1 Ldwdkldk|xi~bin`d

    9+ ^dxdktd MIF^ b} jt~ ldwdkldk|

    xi~bin`d vcbmc vi} |d}|dl ifibk}|

    lbhhd~dk| dxd`} jh Cb}wikbm

    I``jmi|bjk+

    >+ ^dxdktd i} ~dh`dm|dl h~je |jw bkd,

    j~fikbm T]%jk`r mjk}ted~ ldeikl

    wd~ 97O}+

    eir cixd nddk ilat}|dl |j dsm`tld

    ds|~ij~lbki~r |~ik}im|bjk} iklkj~ei`bqd ~dxdktd h~je

    imytb}b|bjk}, bh dkjtfc m`di~ li|i

    ci} nddk }|i|dl bk mj~wj~i|d

    hbkikmbi`}+

  • 8/2/2019 AHAA Hisp Allocation - Rev Growth SSG Study_Brief v4!19!12

    9/29

    2Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c, =*6*>79>

    MWF} ( ^d|ib`d~} bk ]|tlr

  • 8/2/2019 AHAA Hisp Allocation - Rev Growth SSG Study_Brief v4!19!12

    10/29

    97Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c, =*6*>79>Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c

    ]|tlr Hbklbkf}

  • 8/2/2019 AHAA Hisp Allocation - Rev Growth SSG Study_Brief v4!19!12

    11/29

    99Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c, =*6*>79>

    %97$

    %4$

    7$

    4$

    97$

    7$ >$ $

    >778%>797^dxdktdF

    ~jv|c^i|d

    >778%>797 Cb}wikbm I``jmi|bjk

    Cb}wikbm I``jmi|bjk%^dxdktd F~jv|c

    I~d MWF} F~jv|c ^i|d} ^d`i|dl |j

    Cb}wikbm Hjmt}:

    Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c

    \cd~d b} i lb~dm| (

    wj}b|bxd

    ~d`i|bjk}cbw

    nd|vddk MWF}

    Cb}wikbm il

    i``jmi|bjk ikl |cdb~

    |jw`bkd ~dxdktd

    f~jv|c+

    W`di}d }dd Iwwdklbs L #F~iwc 9" hj~ Ld|ib`dl F~iwc ikl F~iwcbmi` Iki`r}b}+

  • 8/2/2019 AHAA Hisp Allocation - Rev Growth SSG Study_Brief v4!19!12

    12/29

    9>Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c, =*6*>79>

    Odr Hbklbkf}

    Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c

    Cb}wikbm I``jmi|bjk i`jkd dsw`ibk}injt| =4$ jh MWF} mcikfd bk|jw`bkd ~dxdktd f~jv|c

    \cd j|cd~ 84$ eir bkm`tld j|cd~ m~b|bmi`

    him|j~} }tmc i} n~ikl ivi~dkd}}*dytb|r,kdv w~jltm| ldxd`jwedk|, eikifdedk|hjmt}, edi}t~dedk| |jj`}, lb}|~bnt|bjk,}i`d} hj~md, wi}| wd~hj~eikmd,mjeetkb|r wj}b|bjk, j~fikbqi|bjk}|~tm|t~d, |i`dk|, jxd~i`` }dfedk|i|bjkdswd~|b}d, d|m+

    Ht~|cd~ iki`r}b} b} kddldl |j ld|d~ebkdvci| dsim|`r |cd j|cd~ l~bxd~} jh~dxdktd f~jv|c i~d+

    Cb}wikbmEi~od|bkf

    =4$

    J|cd~L~bxd~} jh

    F~jv|c84$

    MWF} ( ^d|ib`d~}

    ^dxdktd F~jv|c L~bxd~}

    Hj~ Mjk}ted~ Wimoifdl Fjjl} ikl |cdb~ ~d|ib`d~}

  • 8/2/2019 AHAA Hisp Allocation - Rev Growth SSG Study_Brief v4!19!12

    13/29

    9=Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c, =*6*>79>

    %97$

    %4$

    7$

    4$

    97$

    7$ >$ $

    >778%>797^dxdktd

    F~jv|c^i|d

    >778%>797 Cb}wikbm I``jmi|bjk

    Cb}wikbm I``jmi|bjk%^dxdktd F~jv|c

    \jw =7 Wd~mdk|b`d Cb}wikbm Ei~od|d~}

    Nr I``jmi|bjk Ikl Jxd~i`` ^dxdktd F~jv|c

    Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c

    \jw =7

    Wd~mdk|b`d

    W`di}d }dd Iwwdklbs L #F~iwc 9" hj~ Ld|ib`dl F~iwcbmi` Iki`r}b}+

  • 8/2/2019 AHAA Hisp Allocation - Rev Growth SSG Study_Brief v4!19!12

    14/29

    979>

    Odr Hbklbkf}

    I`` |d}|} xi`bli|dl |cd }ied

    hbklbkf}

    i| 24$ j~ cbfcd~ }|i|b}|bmi`

    mjkhbldkmd dxd`+

    Cb}wikbm I``jmi|bjk ci} i

    lb~dm| ( }bfkbhbmik| bewim|

    jk mjewikbd} jxd~i``~dxdktd f~jv|c+

    Iff~dfi|d 78%97 Cb}wikbmI``jmi|bjk

    K5>99

    Iff~dfi|d Cb}wikbm 78%97I``jmi|bjk IKL Rdi~ nr Rdi~

    ^dxdktd F~jv|cK5>99

    Iff~dfi|d Cb}wikbm 78%97 I``jmi|bjk Rdi~ nrRdi~ ^dxdktd F~jv|cIKL ]twd~ Mi|dfj~bd}

    K5>99

    MWF}

    K5=2

  • 8/2/2019 AHAA Hisp Allocation - Rev Growth SSG Study_Brief v4!19!12

    15/29

    94Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c, =*6*>79>

    Odr Hbklbkf}

    Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c

    J~fikbm ~dxdktd

    f~jv|c ~i|d}

    ldm`bkd }ci~w`r

    i} Cb}wikbm

    }ci~d jhntlfd|}

    ldm~di}d ikl

    xbmd xd~}i+

    7+7$

    9+7$

    >+7$

    =+7$

  • 8/2/2019 AHAA Hisp Allocation - Rev Growth SSG Study_Brief v4!19!12

    16/29

    98Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c, =*6*>79>Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c

    Vcr Cb}wikbm Mjk}ted~} I~d ]j Bewj~|ik|\jlir:

  • 8/2/2019 AHAA Hisp Allocation - Rev Growth SSG Study_Brief v4!19!12

    17/29

    96Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c, =*6*>79>Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c

    Etmc hi}|d~ cjt}dcj`l hj~ei|bjk ci}

    dswjkdk|bi` bewim| jk mjk|bktdl f~jv|c

    jwwj~|tkb|r

    Kjk%Cb}wikbm Cb}wikbm

    >+4$*r~+7+773%>797 Ied~bmik Mjeetkb|r ]t~xdr 9%Rdi~ D}|bei|d}

  • 8/2/2019 AHAA Hisp Allocation - Rev Growth SSG Study_Brief v4!19!12

    18/29

    93Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c, =*6*>79>Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c

    Etmc `i~fd~ Cjt}dcj`l} edik} cdixbd~

    t}ifd

    Kjk%Cb}wikbm Cb}wikbm

    Wd~}jk}

    Wd~

    CC9 =+3>+4

    4>$ `i~fd~ CC

    9]]F Iki`r}b} jh T] Mdk}t}, Li|i ]d|1 >773%>797 Ied~bmik Mjeetkb|r ]t~xdr 9%Rdi~ D}|bei|d}

  • 8/2/2019 AHAA Hisp Allocation - Rev Growth SSG Study_Brief v4!19!12

    19/29

    92Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c, =*6*>79>Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c

    Cb}wikbm cjt}dcj`l} hjjl i| cjed dswdklb|t~d} vb`` f~jv i| 4+6$ ikkti``r,

    ej~d |cik |vbmd |cd ~i|d hj~ Kjk%Cb}wikbm cjt}dcj`l} jh >+4$+

    Vcbmc Mjk}ted~ B} Vj~|c Ej~d:

    ,%

    ,>7

    ,777 >774 >797 >794 >7>7

    ,>6,==

    ,

    ,42

    ,63

    ,27Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c, =*6*>79>Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c

    \cd rjtkfd~ ifd ikl `i~fd~ Cb}wikbm cjt}dcj`l }bqd mjk|~bnt|d} |j Cb}wikbm

    cjt}dcj`l} cixbkf |cd cbfcd}| mjk}ted~ }wdklbkf wj|dk|bi` hj~ kdmd}}i~r }wdklbkf

    jk Hjjl i| Cjed ikl Wd~}jki` Mi~d+

    Vcbmc Mjk}ted~ B} Vj~|c Ej~d:

    ]jt~md1 >797 Fdj}miwd Mjk}ted~ ]wdklbkf Lrkiebs+

    Cb}wikbm Wd~}jki` Mi~d mtet`i|bxd bhd|bed

    }wdklbkf b} injt| ==$ cbfcd~ |cik |ci| jh Kjk%Cb}wikbm Vcb|d+

    Cb}wikbm Hjjl i| Cjed mtet`i|bxd `bhd|bed

    }wdklbkf b} jxd~ 47$ cbfcd~ |cik |ci| jh Kjk%Cb}wikbm Vcb|d+

  • 8/2/2019 AHAA Hisp Allocation - Rev Growth SSG Study_Brief v4!19!12

    21/29

    >9Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c, =*6*>79>Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c

    Ej~d bkh`tdkmdl nr }|~jkf n~ikl}

    Cb}wikbm} i~d MWF xi`tin`d mt}|jed~}

    ]jt~md1 >799 Ljtn`dni}d FhO E^B % Ni}d1 I`` #k5 8+8O Cb}wikbm} (

  • 8/2/2019 AHAA Hisp Allocation - Rev Growth SSG Study_Brief v4!19!12

    22/29

    >>Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c, =*6*>79>Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c

    @d}} w~bmd }dk}b|bxd

    Cb}wikbm} i~d MWF xi`tin`d mt}|jed~}

    \jw Njs1 If~dd Mjew`d|d`r j~ If~dd Ej}|`r j~ Xd~r Bewj~|ik| Cb}wikbm BkldsBl wir ds|~i hj~ w~jltm|} |ci| i~d mjk}b}|dk| vb|c |cd beifd

    B vik| |j mjkxdr

    9>4

    B |dkl |j eiod bewt`}d wt~mci}d} 996

    B okjv |cd w~bmd B wir hj~ ej}| jh |cd hjjl} ( wimoifdl fjjl}

    B ntr

    3=

    ]jt~md1 >799 Ljtn`dni}d FhO E^B % Ni}d1 I`` #k5 8+8O Cb}wikbm} (

  • 8/2/2019 AHAA Hisp Allocation - Rev Growth SSG Study_Brief v4!19!12

    23/29

    >=Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c, =*6*>79>

    ]|i|t} ( Beifd Mjk}mbjt}

    Cb}wikbm} i~d MWF xi`tin`d mt}|jed~}

    \jw Njs1 If~dd Mjew`d|d`r j~ If~dd Ej}|`r j~ Xd~r Bewj~|ik| Cb}wikbm BkldsB `bod |j `bxd i `bhd}|r`d |ci| bew~d}}d} j|cd~} 9>

    ]jt~md1 >799 Ljtn`dni}d FhO E^B % Ni}d1 I`` #k5 8+8O Cb}wikbm} (

  • 8/2/2019 AHAA Hisp Allocation - Rev Growth SSG Study_Brief v4!19!12

    24/29

    >79>

    ]dd ]cjwwbkf i} Htk

    Cb}wikbm} i~d MWF xi`tin`d mt}|jed~}

    \jw Njs1 If~dd Mjew`d|d`r j~ If~dd Ej}|`r j~ Xd~r Bewj~|ik| Cb}wikbm BkldsB dkajr vikld~bkf |cd }|j~d `jjobkf hj~ kdv w~jltm|} 9=9

    Be i`vir} hb~}| jh h~bdkl} |j |~r kdv w~jltm|}*}d~xbmd} 9

  • 8/2/2019 AHAA Hisp Allocation - Rev Growth SSG Study_Brief v4!19!12

    25/29

    >4Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c, =*6*>79>

    Odr Mi|dfj~r Bkh`tdk|bi`}

    Cb}wikbm} i~d MWF xi`tin`d mt}|jed~}

    Er hieb`r*h~bdkl} jh|dk i}o hj~ ikl |~t}| er ilxbmd jk |cb}

    |jwbm Cb}wikbm BkldsNinbd}*Mcb`l~dk 9=7

    Ndd~ 9>9

    I`mjcj`bm Ndxd~ifd} 9=4Ndit|r 9=3

    M`dikbkf W~jltm|} 99>

    Kdv Hjjl B|de} 9>8

    Hjjl 99>

    ]kimo} 9>=

    Lbd|bkf 994

    Cdi`|cr @bhd}|r`d 99>

    ]jt~md1 >799 Ljtn`dni}d FhO E^B % Ni}d1 I`` #k5 8+8O Cb}wikbm} (

  • 8/2/2019 AHAA Hisp Allocation - Rev Growth SSG Study_Brief v4!19!12

    26/29

    >8Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c, =*6*>79>

    Mjkm`t}bjk}( Bew`bmi|bjk}

  • 8/2/2019 AHAA Hisp Allocation - Rev Growth SSG Study_Brief v4!19!12

    27/29

    >6Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c, =*6*>79>

    Odr \iodivir}

    Hj~ Mjk}ted~ Wimoifdl Fjjl}

    ]|i|b}|bmi` dxbldkmd ldejk}|~i|d} |ci|1

    Mjk}b}|dk|*}bfkbhbmik| Cb}wikbm ei~od|d~} l~bxd}twd~bj~ ~dxdktd f~jv|c+

    Cb}wikbm i} i w~bj~b|r l~bxd }t}|ibkin`d f~jv|c bk|j

    ht|t~d+

  • 8/2/2019 AHAA Hisp Allocation - Rev Growth SSG Study_Brief v4!19!12

    28/29

    >3Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c, =*6*>79>Cb}wikbm I``jmi|bjk jk dxdktd F~jv|c

    Bew`bmi|bjk} hj~ Mjewikbd} ^di` nj||je%`bkd ndkdhb|} mjed h~je mjk}b}|dk|

    iww~jimcd}+

    Ei~od|bkf b} jk`r |cd ndfbkkbkf, mj~wj~i|d%vbldbk|df~i|bjk ikl bkxd}|edk| b} odr

    Immt~i|d`r }bqbkf |cd w~bqd % ld|d~ebkbkf jk vci|, vcd~d ikl cjv etmc |j bkxd}| hj~jw|bei` f~jv|c ikl ~di}jkin`d ^JB

    ^d}wjklbkf |j |cd ej}| iww~jw~bi|d mt`|t~i` bk}bfc|}

    T}bkf i`` d`dedk|} jh ei~od|bkfinjxd ( nd`jv%|cd%`bkd

    Hjmt}bkf dhhj~|} im~j}} |cd wj~|hj`bj kj| at}| i hdv edfi%n~ikl}

    Ldxd`jwbkf }|~i|dfbd} h~je mjeetkbmi|bjk} |j mt}|jed~ dswd~bdkmd

  • 8/2/2019 AHAA Hisp Allocation - Rev Growth SSG Study_Brief v4!19!12

    29/29

    >2* *

    W~d}dk|dl nr

    Mi~`j} ]ik|bifjMcbdh ]|~i|dfb}|

    ]ik|bifj ]j`t|bjk} F~jtw

    Ht`` ~dwj~|, w~dxbjt} }|tlbd} ikl odr bk}bfc|} i|1

    vvv+Icii+j~fvvv+]ik|bifj]j`t|bjk}F~jtw+mje

    Ht~|cd~ ytd}|bjk}: Deib`*mi`` t} i|1Mi~`j}G]ik|bifj]j`t|bjk}F~jtw+mje

    #393" 6=8%4889

    http://www.ahaa.org/http://www.ahaa.org/