Revenues (Tables)

9 Months Ended

Sep. 30, 2018

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following table summarizes revenue by source:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017 (1)		2018		2017 (1)
($ in thousands)
Investment management fees
Open-end funds	$	62,466	$	51,190	$	174,032	$	120,902
Closed-end funds	10,614		11,243		31,161		33,495
Retail separate accounts	19,532		14,686		53,152		38,879
Institutional accounts	24,614		16,208		56,210		30,140
Structured products	3,602		2,822		7,996		4,483
Other products	885		1,146		2,806		2,729
Total investment management fees	121,713		97,295		325,357		230,628
Distribution and service fees	13,730		11,482		39,886		32,704
Administration and shareholder service fees	16,567		14,699		48,272		33,156
Other income and fees	200		199		655		1,095
Total revenues	$	152,210	$	123,675	$	414,170	$	297,583

(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 September 30, 2018						Nine Months Ended September 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	$	13,730	$	11,625	$	2,105	$	39,886	$	34,451	$	5,435
Operating Expenses
Distribution and other asset-based expenses	$	25,386	$	23,281	$	2,105	$	71,398	$	65,963	$	5,435