Revenues (Tables)

6 Months Ended

Jun. 30, 2018

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following table summarizes revenue by source:

	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017 (1)		2018		2017 (1)
($ in thousands)
Investment management fees
Open-end funds	$	57,192	$	39,186	$	111,566	$	69,712
Closed-end funds	10,168		11,174		20,547		22,253
Retail separate accounts	17,091		12,759		33,620		24,192
Institutional accounts	15,778		8,790		31,596		13,931
Structured products	2,068		1,163		4,394		1,662
Other products	871		990		1,921		1,583
Total investment management fees	103,168		74,062		203,644		133,333
Distribution and service fees	13,549		10,439		26,156		21,222
Administration and shareholder service fees	15,967		9,476		31,705		18,457
Other income and fees	248		155		455		896
Total revenues	$	132,932	$	94,132	$	261,960	$	173,908

(1) Prior period amounts have not been adjusted and are reported in accordance with historical accounting under ASC 605, Revenue Recognition.

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

The impact of adoption of ASC 606 on the Company's condensed consolidated statement of operations was as follows:

	Three Months Ended June 30, 2018						Six Months Ended June 30, 2018
($ in Thousands)	As Reported		Balance Under Prior ASC 605		Effect of Change Higher/(Lower)		As Reported		Balance Under Prior ASC 605		Effect of Change Higher/(Lower)
Revenues
Distribution and service fees	$	13,549	$	11,455	$	2,094	$	26,156	$	22,826	$	3,330
Operating Expenses
Distribution and other asset-based expenses	$	23,721	$	21,627	$	2,094	$	46,012	$	42,682	$	3,330