Alvarez is banking that fewer, more robust partnerships will yield economies of scale: As each distributor carries more product into stores, the overall per-unit cost of distribution will drop.

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Based on the IPO price, the trust's unit holders will receive distribution yields of about 5.6% for the year ending March 2014 and 6.1% for the following year.

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The following graphic shows distribution of worldwide unit and revenue forecasts for 2016.

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Profit per unit is not as relevant if distribution is in the hundreds of millions.

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Asset managers, with or without their own distribution, i.e. brokerage unit, would have to strike marketing deals or forego commissions to attract retail and financial advisor driven purchases.

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They have stopped inefficient unit growth, even closing stores, and are investing to improve distribution, IT capabilities, and their factory outlet system.

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The i3 will be powered by huge lithium-ion batteries positioned under the floorboards (a distribution of weight that eases handling) with a drive system, chassis and energy storage unit all incorporated into a body module made of aluminium.

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Since the 1920s the emphasis has been on increasing conventional generating unit size up to a now optimal size of 600, 000 kW. These must employ transmission and distribution lines to integrate electrical loads which almost always are much smaller, and also to integrate generating units to permit reserve sharing.

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