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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Millions, unless otherwise specified
 3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Cash flow from operating activities:        
Net income $ 60.9 $ 101.0 $ 153.9 $ 190.4
Adjustments to reconcile Net income to net cash flow from operating activities:        
Intangible amortization and impairments 114.7 22.1 145.1 44.2
Amortization of issuance costs 1.8 1.8 3.7 4.4
Depreciation and other amortization 3.6 3.8 7.1 7.6
Deferred income tax provision (15.5) 7.4 (2.0) 17.0
Imputed interest expense and contingent payment arrangements (40.0) 8.3 (42.5) 16.6
Income from equity method investments, net of amortization (13.4) (20.1) (27.9) (30.3)
Distributions received from equity method investments 21.8 18.6 58.6 83.5
Tax benefit from exercise of stock options 0.3   0.7 0.8
Share-based compensation 7.9 5.9 16.1 12.0
Affiliate equity expense 4.9 3.7 7.1 7.2
Other adjustments 5.4 12.9 (0.6) 10.5
Changes in assets and liabilities:        
Increase in investment advisory fees receivable (11.2) (21.8) (23.7) (18.8)
(Increase) decrease in prepaids and other current assets   (0.6) (9.1) (3.0)
Increase in other assets (0.4) (0.7) (0.9) (2.3)
(Increase) decrease in unsettled fund shares receivable 35.5 12.0 (9.7) (48.7)
Increase (decrease) in unsettled fund shares payable (35.3) (22.9) 6.3 31.5
Increase (decrease) in accounts payable, accrued liabilities and other long-term liabilities 42.4 48.0 (46.2) (14.9)
Cash flow from operating activities 183.4 179.4 236.0 307.7
Cash flow used in investing activities:        
Investments in Affiliates (405.3)   (405.3) (13.3)
Purchase of fixed assets (3.7) (2.7) (5.0) (4.4)
Purchase of investment securities (1.6) (2.4) (11.1) (9.0)
Sale of investment securities 14.6   27.5 10.3
Cash flow used in investing activities (396.0) (5.1) (393.9) (16.4)
Cash flow from (used in) financing activities:        
Borrowings of senior bank debt 195.0 110.0 195.0 110.0
Repayments of senior bank debt   (155.0)   (275.0)
Issuance of common stock 7.3 5.7 22.4 20.9
Repurchase of common stock (28.2)   (60.9)  
Issuance costs       (7.7)
Excess tax benefit from exercise of stock options 1.3   4.8 4.9
Settlement of treasury lock       4.0
Note payments (0.2) (72.5) (0.5) (72.2)
Distributions to non-controlling interests (37.6) (12.4) (119.6) (81.0)
Affiliate equity issuances and repurchases (6.1) 8.0 (23.0) 0.1
Cash flow from (used in) financing activities 131.5 (116.2) 18.2 (296.0)
Effect of foreign exchange rate changes on cash and cash equivalents (1.6) 0.3 1.2 2.6
Net increase in cash and cash equivalents (82.7) 58.4 (138.5) (2.1)
Cash and cash equivalents at beginning of period 393.7 252.8 449.5 313.3
Cash and cash equivalents at end of period 311.0 311.2 311.0 311.2
Supplemental disclosure of non-cash financing activities:        
Notes received for Affiliate equity sales 2.0 2.1 3.0 11.6
Payables recorded for Affiliate equity purchases 2.4 5.9 13.6 12.9
Payables recorded under contingent payment arrangements $ 24.8   $ 24.8