| Summary of Related-Party Transactions |
|
|
|
|
|
|
|
|
|
(in thousands) |
|
March 31, 2024 |
|
|
December 31, 2023 |
|
Related party assets |
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
64,465 |
|
|
$ |
109,183 |
|
Receivables (investment management fees) |
|
|
48,279 |
|
|
|
46,217 |
|
Receivables (fund administration and distribution fees) |
|
|
15,094 |
|
|
|
14,238 |
|
Prepaid expenses |
|
|
1,147 |
|
|
|
730 |
|
Investments (investments in proprietary funds, fair value) |
|
|
572 |
|
|
|
534 |
|
Investments (deferred compensation plan investments, fair value) |
|
|
32,810 |
|
|
|
31,143 |
|
Total |
|
$ |
162,367 |
|
|
$ |
202,045 |
|
|
|
|
|
|
|
|
Related party liabilities |
|
|
|
|
|
|
Accounts payable and accrued expenses (fund reimbursements) |
|
$ |
5,482 |
|
|
$ |
5,641 |
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
March 31, |
|
(in thousands) |
|
2024 |
|
|
2023 |
|
Related party revenue |
|
|
|
|
|
|
Investment management fees |
|
$ |
128,335 |
|
|
$ |
119,983 |
|
Fund administration and distribution fees |
|
|
46,072 |
|
|
|
44,484 |
|
Total |
|
$ |
174,407 |
|
|
$ |
164,467 |
|
|
|
|
|
|
|
|
Related party expense |
|
|
|
|
|
|
General and administrative |
|
$ |
112 |
|
|
$ |
122 |
|
|
|
|
|
|
|
|
Related party other income (expense) |
|
|
|
|
|
|
Interest income and other income (expense) |
|
$ |
3,286 |
|
|
$ |
1,464 |
|
|