Revenue Recognition (Tables)

3 Months Ended

Mar. 31, 2019

Revenue Recognition

Summary of disaggregation of revenue

The following table depicts the disaggregation of revenue by product and distribution channel:

		Three months ended March 31, 2019	Three months ended March 31, 2018
		(in thousands)
Investment management fees:
Funds	$	105,745	127,663
Institutional		4,017	6,029
Total investment management fees	$	109,762	133,692
Underwriting and distribution fees:
Unaffiliated
Rule 12b-1 service and distribution fees	$	16,182	20,976
Sales commissions on front-end load mutual fund and variable annuity sales		438	470
Other revenues		92	185
Total unaffiliated distribution fees	$	16,712	21,631
Broker-Dealer
Fee-based asset allocation product revenues	$	65,230	65,516
Rule 12b-1 service and distribution fees		15,688	18,377
Sales commissions on front-end load mutual fund and variable annuity sales		12,020	14,427
Sales commissions on other products		7,606	8,422
Other revenues		8,989	9,668
Total broker-dealer distribution fees		109,533	116,410
Total distribution fees	$	126,245	138,041
Shareholder service fees:
Total shareholder service fees	$	23,403	25,882
Total revenues	$	259,410	297,615