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Significant Accounting Policies (Tables)
 3 Months Ended
Mar. 31, 2016
Accounting Policies [Abstract]  
Summary of Investments Values Based upon Level 1
The following table summarizes the values of the Company’s investments based upon Level 1 inputs as of March 31, 2016:
 
 
March 31, 2016
Level 1 Inputs
$
95,736,885
Assets under Management (AUM) Subject to Incentive Fees and Incentive Fees
The table below shows AUM subject to variable incentive fees and the amount of variable incentive fees that would be recognized if the contracts were terminated as of March 31, 2016:
 
As of March 31,
 
2016
AUM subject to variable incentive fees
$
548,408,661


 
As of March 31,
 
2016
Contractual Period Ends:
 
Quarter Ended June 30, 2017
$
—

Quarter Ended December 31, 2018
341,001

Quarter Ended September 30, 2019
422,339

Quarter Ended March 31, 2020
—

Total variable incentive fees that would be recognized if contract terminated
$
763,340
Mutual Fund Administration Gross and Net Revenue
Mutual fund administration gross and net revenue are summarized below:
 
 
 
Three Months Ended   March 31,
 
 
2016
 
2015
Mutual fund administration:
 
 
 
 
Administration revenue, gross
 
$
6,760,870

 
$
6,379,960

12b-1/service fees and commission revenue received from fund clients
 
2,625,391

 
2,744,151

12b-1/service fees and commission expense payments to third parties
 
(2,328,490
)
 
(2,373,863
)
Fund related expense
 
(3,268,063
)
 
(2,838,794
)
Revenue, net of related expenses
 
3,789,708

 
3,911,454

DHCM C-Share financing:
 
 
 
 
Broker commission advance repayments
 
193,310

 
251,360

Broker commission amortization
 
(212,313
)
 
(244,943
)
Financing activity, net
 
(19,003
)
 
6,417

Mutual fund administration revenue, net
 
$
3,770,705

 
$
3,917,871