Related Party Transactions

6 Months Ended

Jun. 30, 2012

Related Party Transactions [Abstract]

BMO Related Party Transactions

9. Related Party Transactions

In May 2006, the Company acquired the rights to advise, distribute and administer the Insight Funds from BMO Asset Management Corp. (f/k/a Harris Investment Management, Inc.), a subsidiary of BMO. BMO Asset Management Corp. and BMO are related parties of the Company.

Sub-advisory investment management fees, pursuant to its sub-advisory agreements with BMO Asset Management Corp., which are netted against investment management fees in the Company’s Condensed Consolidated Statements of Operations, and distribution and administration expenses paid or payable to BMO Asset Management Corp. are summarized as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2012		2011		2012		2011
($ in thousands)
Sub-advisory investment management fees	$	666	$	778	$	1,388	$	1,617
Distribution and administration expenses		—		41		6		118
Total fees and expenses related to BMO Asset Management Corp.	$	666	$	819	$	1,394	$	1,735

At June 30, 2012 and December 31, 2011, $0.2 million and $0.2 million, respectively, were payable to BMO Asset Management, Inc. and its affiliates related to sub-advisory investment management fees and distribution fees in accordance with the above agreements.