Revenues

9 Months Ended

Sep. 30, 2020

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 September 30,				Nine Months Ended September 30,
(in thousands)	2020		2019		2020		2019
Investment management fees
Open-end funds	$	63,458	$	59,060	$	176,584	$	169,326
Closed-end funds	8,959		10,846		27,695		31,485
Retail separate accounts	26,412		22,092		74,524		60,761
Institutional accounts	29,048		25,180		76,571		71,013
Structured products	1,297		1,725		3,288		4,957
Other products	611		1,120		1,961		2,990
Total investment management fees	129,785		120,023		360,623		340,532
Distribution and service fees	9,797		10,442		28,146		31,122
Administration and shareholder service fees	15,114		15,280		43,056		44,747
Other income and fees	94		210		425		761
Total revenues	$	154,790	$	145,955	$	432,250	$	417,162