For the Year ended December 31,

2019

2018

2017

(in thousands)

Investment management fees:

Funds

$

430,028

486,181

506,868

Institutional

15,116

21,725

24,982

Total investment management fees

445,144

507,906

531,850

Underwriting and distribution fees:

Unaffiliated

Rule 12b-1 service and distribution fees

65,227

78,041

91,313

Sales commissions on front-end load mutual fund and variable annuity sales

1,730

1,886

1,498

Other revenues

290

568

1,182

Total unaffiliated distribution fees

67,247

80,495

93,993

Wealth Management

Fee-based asset allocation product revenues

284,188

269,069

240,089

Rule 12b-1 service and distribution fees

63,197

70,938

75,850

Sales commissions on front-end load mutual fund and variable annuity sales

48,471

54,895

55,293

Sales commissions on other products

32,314

36,131

31,286

Other revenues

36,419

38,482

22,188

Total wealth management distribution fees

464,589

469,515

424,706

Total distribution fees

531,836

550,010

518,699

Shareholder service fees:

Total shareholder service fees

93,335

102,385

106,595

Total revenues

$

1,070,315

1,160,301

1,157,144