Related Party Transactions

12 Months Ended

Dec. 31, 2014

Related Party Transactions

Related Party Transactions

16.   Related Party Transactions

        We earn investment management fee revenues from the Funds for which we also act as an investment adviser, pursuant to an investment management agreement with each Fund. In addition, we have agreements with the Funds pursuant to Rule 12b-1 under the Investment Company Act of 1940, as amended, pursuant to which distribution and service fees are collected from the Funds for distribution of mutual fund shares, for costs such as advertising and commissions paid to broker/dealers, and for providing ongoing services to shareholders of the Funds and/or maintaining shareholder accounts. We also earn service fee revenues by providing various services to the Funds and their shareholders pursuant to a shareholder servicing agreement with each Fund (except the Ivy Funds VIP) and an accounting service agreement with each Fund. Certain of our officers and directors are also officers and/or trustees for the various Funds for which we act as an investment adviser. These agreements are approved or renewed on an annual basis by each Fund's board of trustees, including a majority of the disinterested members.

        Revenues for services provided or related to these Funds for the years ended December 31, 2014, 2013 and 2012 are as follows:

	2014		2013		2012
	(in thousands)
Investment management fees	$	709,179		602,120		506,081
Rule 12b-1 service and distribution fees		338,846		299,442		259,803
Shareholder service fees		150,979		137,093		128,109
Total revenues	$	1,199,004		1,038,655		893,993

        Included in Funds and separate accounts receivable at December 31, 2014 and 2013 are receivables due from the Funds of $30.3 and $28.3 million respectively.