Related Party Transactions

3 Months Ended

Mar. 31, 2013

Related Party Transactions [Abstract]

Related Party Transactions

8. Related Party Transactions

In May 2006, the Company acquired the rights to advise, distribute and administer the Insight Funds from BMO Asset Management Corp. (“BMO”), a subsidiary of BMO Financial Corp. BMO and BMO Financial Corp. are related parties of the Company.

Sub-advisory investment management fees and distribution and administration fee expenses paid or payable to BMO were $0.2 million and $0.7 million for the three months ended March 31, 2013 and 2012, respectively. At both March 31, 2013 and December 31, 2012, $0.1 million, was payable to BMO and its affiliates related to sub-advisory investment management fees and distribution fees.