Related Parties

6 Months Ended

Jun. 30, 2020

As a result of the OppenheimerFunds acquisition (see Note 2, "Business Combinations"), MassMutual has an approximate 16.5% stake in the common stock of the company and owns all of the outstanding $4.0 billion in perpetual, non-cumulative preferred shares. Based on the level of shares owned by MassMutual and the corresponding customary minority shareholder rights, which includes representation on Invesco’s board of directors, the company considers MassMutual a related party.

Additionally, certain managed funds are deemed to be affiliated entities under the related party definition in ASC 850, “Related Party Disclosures.” Related parties include those defined in the company’s proxy statement. Affiliated balances are illustrated in the tables below:



	Three months ended June 30,		Six months ended June 30,
$ in millions	2020	2019	2020	2019
Affiliated operating revenues:
Investment management fees	932.1	955.5	1,988.0	1,771.8
Service and distribution fees	316.7	278.6	665.9	488.5
Performance fees	2.4	12.9	3.4	23.4
Other	43.6	54.1	103.0	100.9
Total affiliated operating revenues	1,294.8	1,301.1	2,760.3	2,384.6



$ in millions	June 30, 2020	December 31, 2019
Affiliated asset balances:
Cash and cash equivalents	575.3	620.9
Unsettled fund receivables	89.6	113.6
Accounts receivable	459.6	599.8
Investments	554.2	633.5
Assets held for policyholders	8,020.7	10,835.3
Other assets	22.2	24.5
Total affiliated asset balances	9,721.6	12,827.6

Affiliated liability balances:
Accrued compensation and benefits	21.2	65.7
Accounts payable and accrued expenses	85.9	53.8
Unsettled fund payables	91.0	116.6
Total affiliated liability balances	198.1	236.1