| Schedule of disaggregation of revnue by type and product |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
|
(in thousands)
|
|
2019
|
|
2018
|
|
2019
|
|
2018
|
|
Investment management fees
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mutual funds (Victory/USAA Funds)
|
|
$
|
125,928
|
|
$
|
64,926
|
|
$
|
228,855
|
|
$
|
191,391
|
|
ETFs (VictoryShares)
|
|
|
3,116
|
|
|
2,457
|
|
|
7,172
|
|
|
6,523
|
|
Separate accounts and other vehicles
|
|
|
26,512
|
|
|
24,232
|
|
|
72,379
|
|
|
71,225
|
|
Performance-based fees
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Separate accounts and other vehicles
|
|
|
(150)
|
|
|
910
|
|
|
(547)
|
|
|
1,514
|
|
Total investment management fees
|
|
$
|
155,406
|
|
$
|
92,525
|
|
$
|
307,859
|
|
$
|
270,653
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fund administration and distribution fees
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administration fees
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mutual funds (Victory/USAA Funds)
|
|
$
|
30,098
|
|
$
|
5,880
|
|
$
|
40,734
|
|
$
|
17,069
|
|
ETFs (VictoryShares)
|
|
|
378
|
|
|
278
|
|
|
924
|
|
|
667
|
|
Distribution fees
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mutual funds (Victory/USAA Funds)
|
|
|
7,674
|
|
|
9,399
|
|
|
22,878
|
|
|
29,056
|
|
Transfer agent fees
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mutual funds (USAA Funds)
|
|
|
21,424
|
|
|
—
|
|
|
21,424
|
|
|
—
|
|
Total fund administration and distribution fees
|
|
$
|
59,574
|
|
$
|
15,557
|
|
$
|
85,960
|
|
$
|
46,792
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total revenue
|
|
$
|
214,980
|
|
$
|
108,082
|
|
$
|
393,819
|
|
$
|
317,445
|
|
| Schedule of balances of receivables from contracts with customers |
|
|
|
|
|
|
|
|
|
(in thousands)
|
|
September 30, 2019
|
|
December 31, 2018
|
|
Customer receivables
|
|
|
|
|
|
|
|
Mutual funds (Victory/USAA Funds)
|
|
$
|
61,348
|
|
$
|
21,025
|
|
ETFs (VictoryShares)
|
|
|
1,271
|
|
|
909
|
|
Separate accounts and other vehicles
|
|
|
23,170
|
|
|
19,199
|
|
Receivables from contracts with customers
|
|
|
85,789
|
|
|
41,133
|
|
Non-customer receivables
|
|
|
657
|
|
|
2,987
|
|
Total receivables
|
|
$
|
86,446
|
|
$
|
44,120
|
|