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Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2015
Accounting Policies [Abstract] |
Summary of investments values based upon Level 1 and Level 2 | The following table summarizes the values of the Company’s investments based upon Level 1 and Level 2 inputs as of December 31, 2015 and 2014:
| As of December 31,
| 2015 |  | 2014
Level 1 Inputs | $ | 92,376,955 |  |  | $ | 62,595,546 |
Level 2 Inputs | $ | 11,284,109 |  |  | 14,652,589 |
Assets under management (AUM) subject to incentive fees and the incentive fees | The table below shows AUM subject to variable incentive fees and the amount of variable incentive fees that would have been recognized if the contracts were terminated as of December 31, 2015:
| As Of December 31,
| 2015
AUM subject to variable incentive fees | $ | 551,090,995 |
| For the Year Ended
| 2015
Contractual Period Ends: |
Quarter Ended June 30, 2017 | $ | 618,134 |
Quarter Ended December 31, 2018 | 430,041 |
Quarter Ended September 30, 2019 | 405,845 |
Total variable incentive fees that would have been recognized if contracts were terminated | $ | 1,454,020 |
Mutual fund administration gross and net revenue | Mutual fund administration gross and net revenue are summarized below:
| Year Ended December 31,
| 2015 |  | 2014 |  | 2013
Mutual fund administration: |  |  |  |  |
Administration revenue, gross | $ | 27,042,861 |  |  | $ | 22,968,369 |  |  | $ | 16,692,093 |
12b-1/service fees and commission revenue received from fund clients | 11,087,978 |  |  | 10,514,242 |  |  | 8,481,442 |
12b-1/service fees and commission expense payments to third parties | (9,617,568 | ) |  | (9,102,565 | ) |  | (7,404,361 | )
Fund related expense | (12,031,353 | ) |  | (9,753,359 | ) |  | (6,321,374 | )
Revenue, net of related expenses | 16,481,918 |  |  | 14,626,687 |  |  | 11,447,800 |
DHCM C-Share financing: |  |  |  |  |
Broker commission advance repayments | 991,430 |  |  | 878,105 |  |  | 365,380 |
Broker commission amortization | (962,919 | ) |  | (846,861 | ) |  | (347,853 | )
Financing activity, net | 28,511 |  |  | 31,244 |  |  | 17,527 |
Mutual fund administration revenue, net | $ | 16,510,429 |  |  | $ | 14,657,931 |  |  | $ | 11,465,327 |

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