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BMO Related Party Transactions
 3 Months Ended
Mar. 31, 2012
BMO Related Party Transactions [Abstract]  
BMO Related Party Transactions
9. BMO Related Party Transactions

In May 2006, the Company acquired the rights to advise, distribute and administer the Insight Funds from Harris Investment Management, Inc. ("Harris"), a subsidiary of BMO. Harris and BMO are related parties of the Company.

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

 

     Three Months Ended March 31,  
($ in thousands)    2012      2011  

Sub-advisory investment management fees

    $ 722       $ 839   

Distribution and administration expenses

      6         77   
  

 

 

     

 

 

  

Total fees and expenses related to Harris

    $ 728       $ 916   
  

 

 

     

 

 

  

At March 31, 2012 and December 31, 2011, $0.3 million and $0.2 million, respectively, were payable to Harris and its affiliates related to sub-advisory investment management fees and distribution fees in accordance with the above agreements.