Related Parties

12 Months Ended

Dec. 31, 2020

As a result of the OppenheimerFunds acquisition, 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:


	Years ended December 31,
$ in millions	2020	2019	2018
Affiliated operating revenues:
Investment management fees	4,007.8	4,039.7	3,591.7
Service and distribution fees	1,358.8	1,219.1	945.8
Performance fees	39.4	58.0	17.5
Other	200.2	219.5	192.4
Total affiliated operating revenues	5,606.2	5,536.3	4,747.4


	As of December 31,
$ in millions	2020	2019
Affiliated asset balances:
Cash and cash equivalents	947.3	620.9
Unsettled fund receivables	62.9	113.6
Accounts receivable	498.3	599.8
Investments	654.8	633.5
Assets held for policyholders	7,581.8	10,835.3
Other assets	50.8	24.5
Total affiliated asset balances	9,795.9	12,827.6

Affiliated liability balances:
Accrued compensation and benefits	47.4	65.7
Accounts payable and accrued expenses	60.1	53.8
Unsettled fund payables	64.1	116.6

Total affiliated liability balances	171.6	236.1