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Harris Bankcorp Related Party Transactions
 6 Months Ended
Jun. 30, 2011
Harris Bankcorp Related Party Transactions  
Harris Bankcorp Related Party Transactions
8. Harris Bankcorp Related Party Transactions

The Company acquired the rights to advise, distribute and administer the Insight Funds from Harris Investment Management, Inc. ("Harris"), a subsidiary of Harris Bankcorp, in May 2006 as further discussed in Note 11.

Sub-advisory investment management fees, pursuant to its strategic partnership agreement with Harris, which are netted against investment management fees in the Company's Condensed Consolidated Statements of Operations, and distribution and administration fee expenses paid or payable to Harris Bankcorp are summarized as follows:

 

     Three Months Ended
June 30,		      Six Months Ended
June 30,		  
     2011      2010      2011      2010  
($ in thousands)                            

Sub-advisory investment management fees

    $ 778       $ 1,057       $ 1,617       $ 2,295   

Distribution and administration expenses

      41         135         118         248   
  

 

 

     

 

 

     

 

 

     

 

 

  

Total fees and expenses related to Harris Bankcorp

    $ 819       $ 1,192       $ 1,735       $ 2,543   
  

 

 

     

 

 

     

 

 

     

 

 

  

 

At June 30, 2011 and December 31, 2010, $0.2 million and $0.5 million, respectively, was payable to Harris Bankcorp and its affiliates related to sub-advisory investment management fees, distribution and administration fees.