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Pay vs Performance Disclosure

12 Months Ended

Dec. 31, 2022

USD ($)

Dec. 31, 2021

USD ($)

Dec. 31, 2020

USD ($)

Pay vs Performance Disclosure [Table]

Pay vs Performance [Table Text Block]

Pay Versus Performance

In accordance with Item 402(v) of Regulation

S-K,

we are providing the following information regarding the relationship between compensation of our CEO or Principal Executive Officer (PEO) and our other named executive officers (NEOs) and certain financial

performance

measures of the Company for the fiscal years ended December 31, 2022, December 31, 2021 and December 31, 2020. For further information on the Company’s

pay-for-performance

philosophy and how executive compensation aligns with our performance, refer to the

Compensation Discussion and Analysis

section of this proxy statement.


Pay Versus Performance Table
(a)	(b)	(c)	(d)	(e)	(f)	(g)	(h)	(i)
Year	Summary Compensation Table Total for PEO (1)	Compensation Actually Paid to PEO (2)	Average Summary Compensation Table Total for non-PEO NEOs (1)	Average Compensation Actually Paid to non-PEO NEOs (2)	Value of initial fixed $100 Investment based on:		Net Income ($ in millions)	Earnings Per Share (EPS) - Diluted, as adjusted
Year	Summary Compensation Table Total for PEO (1)	Compensation Actually Paid to PEO (2)		Average Compensation Actually Paid to non-PEO NEOs (2)	Total Shareholder Return (3)	Peer Group Total Shareholder Return (3)(4)	Net Income ($ in millions)	Earnings Per Share (EPS) - Diluted, as adjusted
2022	$6,515,250	($4,240,418)	$2,835,458	$1,094,131	$168.45	$118.80	$117.5	$25.74
2021	$8,614,966	$17,309,308	$3,002,445	$4,163,311	$253.45	$167.07	$208.1	$35.85
2020	$8,005,917	$22,858,118	$2,600,151	$5,277,068	$182.45	$121.30	$ 80.0	$16.21

(1)	NEOs included in these columns reflect the following:


Year	PEO	Non-PEO NEOs
2022	Mr. Aylward	Mr. Angerthal, Ms. Hills, Mr. Mandinach, and Mr. Smirl
2021	Mr. Aylward	Mr. Angerthal, Ms. Hills, Mr. Mandinach, and Mr. Smirl
2020	Mr. Aylward	Mr. Angerthal, Ms. Hills, Mr. Mandinach, and Francis. G. Waltman, Executive Vice President, Product Management (retired)

(2)

In accordance with Item 402(v) requirements, the fair values of unvested and outstanding equity awards were remeasured as of the end of each fiscal year, and as of each vesting date, during the years displayed in the tables below. For PSUs with a relative TSR metric, the fair values as of each measurement date (prior to the end of the performance period) were determined using a Monte Carlo simulation pricing model, with assumptions and methodologies that are generally consistent with those used to estimate fair value at grant under U.S. GAAP. For PSUs with a

non-TSR

metric, fair values reflect the probable outcome of the performance vesting conditions as of each measurement date. For each fiscal year reflected, the “compensation actually paid” (“CAP”) to the PEO and the average CAP to the

non-PEO

NEOs reflect the following adjustments made to the total compensation amounts reported in the Summary Compensation Table for each applicable fiscal year, computed in accordance with Item 402(v) of Regulation

S-K.


	2022			2021			2020
Summary Compensation Table Total for PEO		$6,515,250			$8,614,966			$8,005,917
Less: Grant Date Fair Value of Equity Awards		($3,200,000	)		($3,000,000	)		($3,000,000	)
Add: Year-end Fair Value of Equity Awards Granted in the Applicable Fiscal Year that are Outstanding and Unvested		$1,983,351			$3,821,698			$11,035,557
Add: Year - over - Year Change in Fair Value of Equity Awards Granted in Prior Fiscal Years that Vested in the Year		($3,135,249	)		$1,358,432			($168,110	)
Add: Year - over - Year Change in Fair Value of Outstanding and Unvested Equity Awards		($6,778,793	)		$6,280,037			$6,815,604
Add: Value of Dividends on Stock Awards not Otherwise Reflected in Fair Value or Total Compensation		$375,023			$234,175			$169,150
Compensation Actually Paid to PEO		($4,240,418	)		$17,309,308			$22,858,118


	2022			2021			2020
Average Summary Compensation Table Total for NEOs (other than PEO)		$2,835,458			$3,002,445			$2,600,151
Less: Grant Date Fair Value of Equity Awards		($868,750	)		($581,250	)		($608,750	)
Add: Year-end Fair Value of Equity Awards Granted in the Applicable Year that are Outstanding and Unvested		$595,545			$716,452			$2,239,381
Add: Year - over - Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year		($456,609	)		$134,709			($25,602	)
Add: Year - over - Year Change in Fair Value of Outstanding and Unvested Equity Awards		($1,063,071	)		$868,534			$1,049,128
Add: Value of Dividends on Stock Awards not Otherwise Reflected in Fair Value or Total Compensation		$51,558			$22,421			$22,760
Average Compensation Actually Paid to NEOs		$1,094,131			$4,163,311			$5,277,068

(3)	Total shareholder return is calculated based on a fixed investment of $100 measured from the market close on December 31, 2019 (the last trading day of fiscal 2019) through and including the end of the year for each year reported in the table.

(4)

Peer companies utilized for comparative financial results, as referenced in our

Compensation Discussion and Analysis

and as shown in Appendix C, are: Affiliated Managers Group, Inc., AllianceBernstein Holding L.P., Artisan Partners Asset Management Inc., BrightSphere Investment Group Inc., Cohen & Steers, Inc., Federated Hermes, Inc., Franklin Resources, Inc., Invesco Ltd., Janus Henderson Group plc, T. Rowe Price Group, Inc., and Victory Capital Management Inc.

Company Selected Measure Name

EPS

Named Executive Officers, Footnote [Text Block]


Year	PEO	Non-PEO NEOs
2022	Mr. Aylward	Mr. Angerthal, Ms. Hills, Mr. Mandinach, and Mr. Smirl
2021	Mr. Aylward	Mr. Angerthal, Ms. Hills, Mr. Mandinach, and Mr. Smirl
2020	Mr. Aylward	Mr. Angerthal, Ms. Hills, Mr. Mandinach, and Francis. G. Waltman, Executive Vice President, Product Management (retired)

Peer Group Issuers, Footnote [Text Block]

Peer companies utilized for comparative financial results, as referenced in our

Compensation Discussion and Analysis

PEO Total Compensation Amount

$ 6,515,250

$ 8,614,966

$ 8,005,917

PEO Actually Paid Compensation Amount

$ (4,240,418)

17,309,308

22,858,118

Adjustment To PEO Compensation, Footnote [Text Block]


	2022			2021			2020
Summary Compensation Table Total for PEO		$6,515,250			$8,614,966			$8,005,917
Less: Grant Date Fair Value of Equity Awards		($3,200,000	)		($3,000,000	)		($3,000,000	)
Add: Year-end Fair Value of Equity Awards Granted in the Applicable Fiscal Year that are Outstanding and Unvested		$1,983,351			$3,821,698			$11,035,557
Add: Year - over - Year Change in Fair Value of Equity Awards Granted in Prior Fiscal Years that Vested in the Year		($3,135,249	)		$1,358,432			($168,110	)
Add: Year - over - Year Change in Fair Value of Outstanding and Unvested Equity Awards		($6,778,793	)		$6,280,037			$6,815,604
Add: Value of Dividends on Stock Awards not Otherwise Reflected in Fair Value or Total Compensation		$375,023			$234,175			$169,150
Compensation Actually Paid to PEO		($4,240,418	)		$17,309,308			$22,858,118

Non-PEO NEO Average Total Compensation Amount

$ 2,835,458

3,002,445

2,600,151

Non-PEO NEO Average Compensation Actually Paid Amount

$ 1,094,131

4,163,311

5,277,068

Adjustment to Non-PEO NEO Compensation Footnote [Text Block]


	2022			2021			2020
Average Summary Compensation Table Total for NEOs (other than PEO)		$2,835,458			$3,002,445			$2,600,151
Less: Grant Date Fair Value of Equity Awards		($868,750	)		($581,250	)		($608,750	)
Add: Year-end Fair Value of Equity Awards Granted in the Applicable Year that are Outstanding and Unvested		$595,545			$716,452			$2,239,381
Add: Year - over - Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year		($456,609	)		$134,709			($25,602	)
Add: Year - over - Year Change in Fair Value of Outstanding and Unvested Equity Awards		($1,063,071	)		$868,534			$1,049,128
Add: Value of Dividends on Stock Awards not Otherwise Reflected in Fair Value or Total Compensation		$51,558			$22,421			$22,760
Average Compensation Actually Paid to NEOs		$1,094,131			$4,163,311			$5,277,068

Tabular List [Table Text Block]

Most Important Measures in Determining Pay of the Company’s NEOs

The following unranked measures are the most important financial performance measures, as determined by the Company, that link compensation actually paid to our PEO and other NEOs to the Company’s performance.

Measures

Operating margin, as adjusted (1)

Growth in operating income, as adjusted, versus Financial Peers (2)

Diluted EPS, as adjusted (1)

Gross mutual fund sales versus industry peers (3)

Relative investment performance (4)

Total net flow rate, versus Financial Peers (5)

Shareholder return, versus Financial Peers (6)