Related Parties

3 Months Ended

Mar. 31, 2021

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:


	Three months ended March 31,
$ in millions	2021	2020
Affiliated operating revenues:
Investment management fees	1,090.0	1,055.9
Service and distribution fees	366.3	349.2
Performance fees	1.6	1.0
Other	61.9	59.4
Total affiliated operating revenues	1,519.8	1,465.5


$ in millions	March 31, 2021	December 31, 2020
Affiliated asset balances:
Cash and cash equivalents	609.2	947.3
Unsettled fund receivables	283.3	62.9
Accounts receivable	555.3	498.3
Investments	676.2	654.8
Assets held for policyholders	5,629.2	7,581.8
Other assets	56.4	50.8
Total affiliated asset balances	7,809.6	9,795.9

Affiliated liability balances:
Accrued compensation and benefits	51.9	47.4
Accounts payable and accrued expenses	65.7	60.1
Unsettled fund payables	282.5	64.1

Total affiliated liability balances	400.1	171.6