Revenues

3 Months Ended

Mar. 31, 2021

Revenue from Contract with Customer [Abstract]

Revenues

Revenues The Company's revenues are recognized when a performance obligation is satisfied, which occurs when control of the services is transferred to customers. Investment management fees, distribution and service fees, and administration and shareholder service fees are generally calculated as a percentage of average net assets of the investment portfolios managed. The net asset values from which investment management, distribution and service, and administration and shareholder service fees are calculated are variable in nature and subject to factors outside of the Company's control such as additional investments, withdrawals and market performance. Because of this, these fees are considered constrained until the end of the contractual

measurement period (monthly or quarterly), which is when asset values are generally determinable.

    Revenue Disaggregated by Source

The following table summarizes revenue by source:

	Three Months Ended March 31,
(in thousands)	2021		2020
Investment management fees
Open-end funds	$	88,872	$	59,108
Closed-end funds	12,940		10,179
Retail separate accounts	37,512		25,714
Institutional accounts	32,438		22,917
Structured products	1,259		1,574
Other products	248		796
Total investment management fees	173,269		120,288
Distribution and service fees	20,348		9,460
Administration and shareholder service fees	22,560		14,653
Other income and fees	720		165
Total revenues	$	216,897	$	144,566