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CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2011	Sep. 30, 2010
Revenue	$ 413.8	$ 354.4	$ 1,302.4	$ 937.5
Operating expenses:
Compensation and related expenses	168.9	151.5	544.9	413.5
Selling, general and administrative	83.5	73.4	261.6	190.7
Amortization of intangible assets	22.1	20.5	66.3	39.1
Depreciation and other amortization	4.0	3.7	11.6	10.1
Other operating expenses	9.3	9.7	27.1	24.1
Total operating expenses	287.8	258.8	911.5	677.5
Operating income	126.0	95.6	390.9	260.0
Non-operating (income) and expenses:
Investment and other (income) loss	9.5	(11.4)	6.8	(14.9)
Income from equity method investments	(9.8)	(9.5)	(40.1)	(28.5)
Investment loss from Affiliate investments in partnerships				4.5
Interest expense	18.1	16.3	55.6	48.7
Imputed interest expense	8.3	7.2	24.9	17.3
Total non-operating (income) and expenses	26.1	2.6	47.2	27.1
Income before income taxes	99.9	93.0	343.7	232.9
Income taxes	19.8	24.0	73.2	52.9
Net income	80.1	69.0	270.5	180.0
Net income (non-controlling interests)	(40.0)	(35.0)	(145.9)	(107.8)
Net loss (non-controlling interests in partnerships)				4.4
Net Income (controlling interest)	$ 40.1	$ 34.0	$ 124.6	$ 76.6
Average shares outstanding - basic (in shares)	51.9	51.2	51.9	46.1
Average shares outstanding - diluted (in shares)	53.0	51.9	53.2	48.7
Earnings per share - basic (in dollars per share)	$ 0.77	$ 0.66	$ 2.40	$ 1.66
Earnings per share - diluted (in dollars per share)	$ 0.76	$ 0.65	$ 2.34	$ 1.57
Supplemental disclosure of total comprehensive income:
Net Income	$ 80.1	$ 69.0	$ 270.5	$ 180.0
Other comprehensive income (loss)	(81.4)	23.8	(71.5)	25.0
Comprehensive income (loss)	(1.3)	92.8	199.0	205.0
Comprehensive income (non-controlling interests)	(40.0)	(35.0)	(145.9)	(103.4)
Comprehensive income (loss) (controlling interest)	$ (41.3)	$ 57.8	$ 53.1	$ 101.6

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2011	Dec. 31, 2010
Current assets:
Cash and cash equivalents	$ 323.3	$ 313.3
Investment advisory fees receivable	219.5	236.4
Investments in marketable securities	80.3	116.0
Unsettled fund share receivables	57.3	42.0
Prepaid expenses and other current assets	76.8	61.7
Total current assets	757.2	769.4
Fixed assets, net	64.8	67.7
Equity investments in Affiliates	603.0	678.9
Acquired client relationships, net	1,352.1	1,424.2
Goodwill	2,116.1	2,131.2
Other assets	238.6	219.8
Total assets	5,131.8	5,291.2
Current liabilities:
Accounts payable and accrued liabilities	310.1	252.8
Unsettled fund share payables	46.0	39.8
Payables to related party	12.9	114.8
Total current liabilities	369.0	407.4
Senior bank debt	210.0	460.0
Senior convertible securities	432.2	422.1
Junior convertible trust preferred securities	511.9	509.9
Deferred income taxes	489.5	495.4
Other long-term liabilities	223.3	207.8
Total liabilities	2,235.9	2,502.6
Redeemable non-controlling interests	455.5	406.3
Equity:
Common stock	0.5	0.5
Additional paid-in capital	929.7	980.5
Accumulated other comprehensive income	29.0	100.5
Retained earnings	1,136.4	1,011.8
Total stockholders' equity before treasury stock	2,095.6	2,093.3
Less treasury stock, at cost	(290.0)	(293.3)
Total stockholders' equity	1,805.6	1,800.0
Non-controlling interests	634.8	582.3
Total equity	2,440.4	2,382.3
Total liabilities and equity	$ 5,131.8	$ 5,291.2

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - 9 months ended Sep. 30, 2011 - USD ($) $ in Millions	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Treasury Stock at Cost	Non-controlling interests
Balance at Dec. 31, 2010	$ 2,382.3	$ 0.5	$ 980.5	$ 100.5	$ 1,011.8	$ (293.3)	$ 582.3
Increase (Decrease) in Stockholders' Equity
Stock issued under option and other incentive plans	21.2		(32.5)			53.7
Tax benefit of option exercises	5.7		5.7
Issuance Costs	(0.1)		(0.1)
Changes in Affiliate equity	(14.2)		(46.6)				32.4
Share-based payment arrangements	22.7		22.7
Distributions to non-controlling interests	(118.8)						(118.8)
Investments in Affiliates	(7.0)						(7.0)
Repurchase of common stock	(50.4)					(50.4)
Net Income	270.5				124.6		145.9
Other comprehensive loss	(71.5)			(71.5)
Balance at Sep. 30, 2011	$ 2,440.4	$ 0.5	$ 929.7	$ 29.0	$ 1,136.4	$ (290.0)	$ 634.8

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2011	Sep. 30, 2010
Cash flow from operating activities:
Net income	$ 80.1	$ 69.0	$ 270.5	$ 180.0
Adjustments to reconcile Net income to net cash flow from operating activities:
Amortization of intangible assets	22.1	20.5	66.3	39.1
Amortization of issuance costs	1.8	2.0	6.2	5.7
Depreciation and other amortization	4.0	3.7	11.6	10.1
Deferred income tax provision	14.8	6.6	31.8	24.3
Imputed interest expense	8.3	7.2	24.9	17.3
Income from equity method investments, net of amortization	(9.8)	(9.5)	(40.1)	(28.5)
Distributions received from equity method investments	27.0	14.7	110.5	51.4
Tax benefit from exercise of stock options		1.4	0.8	3.5
Share-based compensation	7.3	3.6	19.3	10.4
Affiliate equity expense	1.9	3.5	9.1	10.3
Other adjustments	9.0	(0.5)	16.2	9.0
Changes in assets and liabilities:
(Increase) decrease in investment advisory fees receivable	37.1	13.3	18.2	(12.0)
Increase in prepaids and other current assets	(6.2)	(20.3)	(9.2)	(1.0)
(Increase) decrease in other assets	0.6	(1.7)	(3.0)	(9.8)
(Increase) decrease in unsettled fund shares receivable	32.0	1.7	(16.7)	(0.6)
Increase (decrease) in unsettled fund shares payable	(24.5)	1.3	7.0	3.5
Increase in accounts payable, accrued liabilities and other long-term liabilities	38.3	51.9	30.8	38.8
Cash flow from operating activities	243.8	168.4	554.2	351.5
Cash flow used in investing activities:
Investments in Affiliates		(11.0)	(13.3)	(804.0)
Purchase of fixed assets	(3.9)	(2.2)	(8.3)	(5.4)
Purchase of investment securities	(39.4)	(12.8)	(50.9)	(43.2)
Sale of investment securities	0.5		12.6	11.8
Cash flow used in investing activities	(42.8)	(26.0)	(59.9)	(840.8)
Cash flow from (used in) financing activities:
Borrowings of senior bank debt		5.0	110.0	1,022.5
Repayments of senior bank debt	(85.0)	(293.5)	(360.0)	(651.5)
Issuance of common stock	0.3	10.6	21.2	36.1
Repurchase of common stock	(48.0)		(48.0)
Issuance costs	(0.8)	(0.1)	(8.5)	(0.3)
Excess tax benefit from exercise of stock options		1.9	4.9	6.7
Settlement of treasury lock			4.0
Settlement of forward equity sale agreement		194.7		294.7
Note payments	(8.4)	(5.9)	(81.0)	(31.8)
Distributions to non-controlling interests	(36.2)	(16.7)	(118.8)	(77.0)
Affiliate equity issuances and repurchases	(6.8)	(6.6)	(6.7)	(116.2)
Cash flow from (used in) financing activities	(184.9)	(110.6)	(482.9)	483.2
Effect of foreign exchange rate changes on cash and cash equivalents	(4.0)	3.1	(1.4)	2.0
Net increase (decrease) in cash and cash equivalents	12.1	34.9	10.0	(4.1)
Cash and cash equivalents at beginning of period	311.2	220.5	313.3	259.5
Cash and cash equivalents at end of period	323.3	255.4	323.3	255.4
Supplemental disclosure of non-cash financing activities:
Notes received for Affiliate equity sales		5.7	11.6	13.3
Payables recorded for Affiliate equity purchases	4.9	$ 19.2	17.8	34.5
Payables recorded under contingent payment arrangements	$ 1.4		$ 1.4	64.3
Stock issued for Investments in Affiliates				146.9
Stock issued for conversion of zero coupon senior convertible note				47.5
Stock issued for settlement of forward equity sale arrangement				$ 44.5

Basis of Presentation

9 Months Ended

Sep. 30, 2011

Basis of Presentation

Basis of Presentation

1. Basis of Presentation

The consolidated financial statements of Affiliated Managers Group, Inc. ("AMG" or the "Company") have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. The year-end condensed balance sheet data was derived from audited financial statements, but does not include all of the disclosures required by accounting principles generally accepted in the United States of America. In the opinion of management, all adjustments considered necessary for a fair statement of the results have been included. All intercompany balances and transactions have been eliminated. Certain reclassifications have been made to the prior period's financial statements to conform to the current period's presentation. Operating results for interim periods are not necessarily indicative of the results that may be expected for any other period or for the full year. The Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2010 includes additional information about AMG, its operations, financial position and accounting policies, and should be read in conjunction with this Quarterly Report on Form 10-Q.

All dollar and share amounts in these notes (except information that is presented on a per share, per security, per note or per contract basis) are stated in millions, unless otherwise indicated.

- Definition

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 2-6
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Name Statement of Position (SOP)
-Publisher AICPA
-Number 94-6
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Name FASB Interpretation (FIN)
-Publisher FASB
-Number 46R
-Paragraph 4, 14, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section 50
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 205
-SubTopic 10
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6359553&loc=d3e288-107754

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-URI http://asc.fasb.org/subtopic&trid=2197480

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
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-Paragraph 1
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 1
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 10: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 720
-SubTopic 15
-URI http://asc.fasb.org/subtopic&trid=2122524

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 275
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-URI http://asc.fasb.org/subtopic&trid=2134480

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FAS140-4/FIN46(R)-8
-Paragraph 8, C1, C7
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Senior Bank Debt

9 Months Ended

Sep. 30, 2011

Senior Bank Debt

Senior Bank Debt

2. Senior Bank Debt (see also Note 21 Subsequent Events)

The Company has a revolving credit facility (the "credit facility") which allows for borrowings of up to $750.0 million at specified rates of interest that vary depending on the Company's credit ratings. Subject to the agreement of the lenders to provide incremental commitments and subject to certain requirements in the credit facility, the Company has the option to increase the credit facility by up to an additional $150.0 million.

The credit facility, which will mature in January 2015, is unsecured and contains financial covenants with respect to leverage and interest coverage and also contains customary affirmative and negative covenants, including limitations on indebtedness, liens, cash dividends, asset dispositions and fundamental corporate changes. At September 30, 2011, the Company had $210.0 million of outstanding borrowings.

As further described in Note 15, the Company has entered into interest rate swap contracts to exchange a fixed rate for the variable rate on a portion of its credit facility.

Convertible Securities

9 Months Ended

Sep. 30, 2011

Convertible Securities

Convertible Securities

3. Convertible Securities

At September 30, 2011, the Company has one senior convertible security outstanding ("2008 senior convertible notes") and two junior convertible trust preferred securities outstanding issued in 2006 (the "2006 junior convertible trust preferred securities") and in 2007 (the "2007 junior convertible trust preferred securities"). The carrying values of the Company's convertible securities are as follows:

		December 31, 2010				September 30, 2011

		Carrying Value		Principal amount at maturity		Carrying Value		Principal amount at maturity
Senior convertible securities:
	2008 senior convertible notes⁽¹⁾	$	422.1	$	460.0	$	432.2	$	460.0

Junior convertible trust preferred securities:
	2007 junior convertible trust preferred securities⁽¹⁾	$	296.3	$	430.8	$	297.4	$	430.8
	2006 junior convertible trust preferred securities⁽¹⁾		213.6		300.0		214.5		300.0

	Total junior convertible securities	$	509.9	$	730.8	$	511.9	$	730.8

(1): Carrying value is accreted to the principal amount at maturity over an expected life of five years for the 2008 senior convertible notes and 30 years for each of the junior convertible trust preferred securities.

The principal terms of these securities are summarized below.

	2008 Senior Convertible Notes⁽¹⁾		2007 Junior Convertible Trust Preferred Securities⁽²⁾		2006 Junior Convertible Trust Preferred Securities⁽³⁾

Issue Date	August 2008		October 2007		April 2006
Maturity Date	August 2038		October 2037		April 2036
Next Potential Put Date	August 2013		N/A		N/A
Denomination	$1,000		$50		$50
Current Conversion Rate	7.959		0.250		0.333
Current Conversion Price	$125.65		$200.00		$150.00
Stated Coupon	3.95	%	5.15	%	5.10	%
Coupon Frequency	Semi-annually		Quarterly		Quarterly
Tax Deduction Rate⁽⁴⁾	9.38	%	8.00	%	7.50	%

(1): The Company may redeem the notes for cash (subject to the holders' rights to convert) at any time on or after August 15, 2013.
(2): The Company may redeem the 2007 junior convertible trust preferred securities on or after October 15, 2012 if the closing price of the Company's common stock exceeds $260 per share for a specified period of time.
(3): The Company may redeem the 2006 junior convertible trust preferred securities at any time if the closing price of the Company's common stock exceeds $195 per share for a specified period of time.
(4): These convertible securities are considered contingent payment debt instruments under federal income tax regulations, which require the Company to deduct interest in an amount greater than its reported interest expense. These deductions result in annual deferred tax liabilities of approximately $22.5 million. These deferred tax liabilities will be reclassified directly to stockholders' equity if the Company's common stock is trading above certain thresholds at the time of the conversion of the securities.

Forward Equity Sale Agreements

9 Months Ended

Sep. 30, 2011

Forward Equity Sale Agreements

Forward Equity Sale Agreements

4. Forward Equity Sale Agreements

In July 2011, the Company entered into a forward equity sale agreement with two major securities firms under which it may sell shares of common stock with an aggregate sales price of up to $300 million. During the three months ended September 30, 2011, no forward equity sales have occurred.

Income Taxes

9 Months Ended

Sep. 30, 2011

Income Taxes

Income Taxes

5. Income Taxes

The consolidated income tax provision includes taxes attributable to the controlling interest and, to a lesser extent, taxes attributable to non-controlling interests as follows:

			For the Three Months Ended September 30,						For the Nine Months Ended September 30,

			2010			2011			2010			2011
Controlling Interest:
	Current Tax		$	7.9		$	1.9		$	15.8		$	31.9
	Intangible related deferred taxes			9.8			10.4			34.9			36.2
	Other Deferred Taxes			(1.4	)		6.2			(8.4	)		(1.6	)

		Total Controlling Interest		16.3			18.5			42.3			66.5

Non-Controlling Interests:
	Current Tax		$	9.5		$	3.1		$	12.8		$	9.5
	Deferred Taxes			(1.8	)		(1.8	)		(2.2	)		(2.8	)

		Total Non-Controlling Interests		7.7			1.3			10.6			6.7

Provision for income taxes			$	24.0		$	19.8		$	52.9		$	73.2

Income before income taxes (controlling interest)			$	50.3		$	58.6		$	118.9		$	191.1

Effective Tax rate attributable to controlling interests⁽¹⁾				32.4	%		31.6	%		35.6	%		34.8	%

(1): Taxes attributable to the controlling interest divided by Income before income taxes (controlling interest).

During the quarter ended September 30, 2011, the Company recognized a deferred tax benefit of $3.9 million ($2.6 million attributable to the controlling interest) from the revaluation of its deferred taxes as a result of a reduction of corporate tax rates in the United Kingdom.

A summary of the consolidated provision for income taxes is as follows:

		For the Three Months Ended September 30,						For the Nine Months Ended September 30,

		2010			2011			2010			2011
Current:
	Federal	$	0.2		$	(7.6	)	$	—		$	5.6
	State		1.9			1.6			5.3			6.5
	Foreign		15.3			11.0			23.3			29.3

Total Current			17.4			5.0			28.6			41.4

Deferred:
	Federal	$	12.9		$	17.9		$	29.3		$	38.4
	State		(0.1	)		0.5			2.8			1.7
	Foreign		(6.2	)		(3.6	)		(7.8	)		(8.3	)

Total Deferred			6.6			14.8			24.3			31.8

Provision for Income Taxes		$	24.0		$	19.8		$	52.9		$	73.2

The components of deferred tax assets and liabilities are as follows:

		December 31, 2010			September 30, 2011

Deferred Tax Assets
	State net operating loss carryforwards	$	30.6		$	27.9
	Foreign tax credit carryforwards		17.3			20.6
	Deferred compensation		10.3			15.3
	Tax benefit of uncertain tax positions		10.8			11.5
	Accrued expenses		8.5			11.6
	Unrealized losses		—			8.4
	Capital loss carryforwards		1.5			1.5

Total deferred tax assets			79.0			96.8
Valuation allowance			(38.4	)		(36.3	)

Deferred tax assets, net of valuation allowance		$	40.6		$	60.5

Deferred Tax Liabilities
	Intangible asset amortization	$	(209.3	)	$	(241.4	)
	Convertible securities interest		(154.5	)		(166.8	)
	Non-deductible intangible amortization		(143.1	)		(135.2	)
	Deferred revenue		(26.3	)		(3.9	)
	Other		(2.8	)		(2.7	)

Total deferred tax liabilities			(536.0	)		(550.0	)

	Net deferred tax liability	$	(495.4	)	$	(489.5	)

Deferred tax liabilities arise primarily as a result of the Company's intangible assets and convertible securities. The Company amortizes most of its intangible assets for tax purposes only, reducing its tax basis below its carrying value for financial statement purposes and generating deferred taxes each reporting period. The Company's 2008 senior convertible notes and junior convertible trust preferred securities also generate deferred taxes because the Company's tax deductions are higher than the interest expense recorded for financial statement purposes.

At September 30, 2011, the Company has state net operating loss carryforwards that expire over a 15-year period beginning in 2011. The Company also has foreign tax credit carryforwards that expire over a 10-year period beginning in 2011. The valuation allowances at December 31, 2010 and September 30, 2011 were principally related to the Company's ability to generate sufficient taxable income prior to the expiration of these carryforwards.

The Company periodically has tax examinations in the United States and foreign jurisdictions. Examination outcomes, and any related settlements, are subject to significant uncertainty. The completion of examinations may result in the payment of additional taxes and/or the recognition of tax benefits.

At September 30, 2011, the Company's liability for uncertain tax positions was $21.9 million, including $11.5 million of liabilities that would generate tax benefits if settled. The Company's liability for uncertain tax positions also includes $2.1 million for interest and related charges. As a result of tax examination settlements and the expiration of statutes of limitations, this liability could increase by up to $2.5 million in the next 12 months.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 136, 172
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 43, 44, 45, 46, 47, 48, 49
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+ Details

Earnings Per Share

9 Months Ended

Sep. 30, 2011

Earnings Per Share

Earnings Per Share

6. Earnings Per Share

The calculation of basic earnings per share is based on the weighted average number of shares of the Company's common stock outstanding during the period. Diluted earnings per share is similar to basic earnings per share, but adjusts for the dilutive effect of the potential issuance of incremental shares of the Company's common stock. The following is a reconciliation of the numerator and denominator used in the calculation of basic and diluted earnings per share available to common stockholders.

		For the Three Months Ended September 30,				For the Nine Months Ended September 30,

		2010		2011		2010		2011
Numerator:
Net Income (controlling interest)		$	34.0	$	40.1	$	76.6	$	124.6
Interest expense on convertible securities, net of taxes			—		—		0.1		—

Net Income (controlling interest), as adjusted		$	34.0	$	40.1	$	76.7	$	124.6

Denominator:
Average shares outstanding—basic			51.2		51.9		46.1		51.9
Effect of dilutive instruments:
	Stock options		0.7		1.1		0.8		1.3
	Forward sale		0.0		—		1.3		—
	Senior convertible securities		—		—		0.5		—

Average shares outstanding—diluted			51.9		53.0		48.7		53.2

As more fully discussed in Note 3, the Company had convertible securities outstanding during the periods presented and is required to apply the if-converted method to these securities in its calculation of diluted earnings per share. Under the if-converted method, shares that are issuable upon conversion are deemed outstanding, regardless of whether the securities are contractually convertible into the Company's common stock at that time. For this calculation, the interest expense (net of tax) attributable to these dilutive securities is added back to Net Income (controlling interest), reflecting the assumption that the securities have been converted. Issuable shares for these securities and related interest expense are excluded from the calculation if an assumed conversion would be anti-dilutive to diluted earnings per share.

For the three and nine months ended September 30, 2011, the Company repurchased approximately 0.6 million shares of common stock under the share repurchase programs approved by the Company's Board of Directors.

The diluted earnings per share calculations in the table above exclude the anti-dilutive effect of the following shares:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,

	2010		2011		2010		2011
Stock options		1.8		1.2		1.8		1.2
Senior convertible securities		3.7		3.7		3.7		3.7
Junior convertible trust preferred securities		4.2		4.2		4.2		4.2

As discussed further in Note 18, the Company may settle portions of its Affiliate equity purchases in shares of its common stock. Because it is the Company's intent to settle these potential repurchases in cash, the calculation of diluted earnings per share excludes any potential dilutive effect from possible share settlements.

Commitments and Contingencies

9 Months Ended

Sep. 30, 2011

Commitments and Contingencies

Commitments and Contingencies

7. Commitments and Contingencies

The Company and its Affiliates are subject to claims, legal proceedings and other contingencies in the ordinary course of their business activities. Each of these matters is subject to various uncertainties, and it is possible that some of these matters may be resolved in a manner unfavorable to the Company or its Affiliates. The Company and its Affiliates establish accruals for matters for which the outcome is probable and can be reasonably estimated. Management believes that any liability in excess of these accruals upon the ultimate resolution of these matters will not have a material adverse effect on the Company.

Certain Affiliates operate under regulatory authorities which require that they maintain minimum financial or capital requirements. Management is not aware of any material violations of such financial requirements.

In connection with its investment in Pantheon Ventures, the Company has committed to co-invest in certain investment partnerships where it serves as the general partner. As of September 30, 2011, these commitments totaled approximately $84.1 million and may be called in future periods. Russell Investments (Pantheon Ventures former owner) is contractually obligated to reimburse the Company for $54.1 million of these commitments if they are called.

Under past acquisition agreements, the Company is contingently liable, upon achievement of specified financial targets, to make payments of up to $491.8 million through 2015. In 2011, the Company expects to make payments of approximately $2.8 million to settle portions of these contingent obligations.

- Definition

The entire disclosure for commitments and contingencies.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 14
-Paragraph 3
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
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+ Details

Investments in Marketable Securities

9 Months Ended

Sep. 30, 2011

Investments in Marketable Securities

Investments in Marketable Securities

8. Investments in Marketable Securities

Investments in marketable securities are comprised of the Company's investments in Value Partners Group Limited ("Value Partners"), a publicly-traded asset management firm based in Hong Kong, and investments held by Affiliates. These investments are carried at their fair value. Changes in fair value for securities classified as available-for-sale are reported in "Accumulated other comprehensive income." Changes in fair value for trading securities are reported within "Other operating expenses."

A summary of our investments in marketable securities follows:

		December 31, 2010			September 30, 2011

Cost of investments in marketable securities		$	68.9		$	108.2
Gross unrealized gains			47.1			1.5
Gross unrealized losses			(0.0	)		(29.4	)

	Total	$	116.0		$	80.3

As of September 30, 2011, the Company has invested $79.6 million in Value Partners, representing 7.8% of the outstanding common stock. In line with the volatility of global equity markets during the recent quarter the investment in Value Partners declined, resulting in an unrealized loss of $25.8 million at September 30, 2011. The Company intends to hold this investment for a reasonable period of time sufficient for a forecasted recovery of fair value.

Cost Method Investments

9 Months Ended

Sep. 30, 2011

Cost Method Investments

Cost Method Investments

9. Cost Method Investments

The Company has cost method investments reported in "Other assets" in which it owns less than a 20% interest and does not exercise significant influence. The balance of these investments was $27.4 million and $14.6 million as of December 31, 2010 and September 30, 2011, respectively. During the nine months ended September 30, 2011, the Company determined that the value of a cost method investment had been reduced to zero and recorded a $12.8 million write down in "Investment and other (income) loss" (allocated to the Company's High Net Worth distribution channel—see Note 16).

Unsettled Fund Share Receivables and Payables

9 Months Ended

Sep. 30, 2011

Unsettled Fund Share Receivables and Payables

Unsettled Fund Share Receivables and Payables

10. Unsettled Fund Share Receivables and Payables

Unsettled fund share receivables and payables are created by the normal settlement periods on transactions initiated by certain clients of Affiliate funds domiciled in the United Kingdom. The gross presentation of the receivable and offsetting payable reflects the legal relationship between the underlying investor and the Company.

Fair Value Measurements

9 Months Ended

Sep. 30, 2011

Fair Value Measurements

Fair Value Measurements

11. Fair Value Measurements

The Company determines the fair value of certain investment securities and other financial and nonfinancial assets and liabilities. Fair value is determined based on the price that would be received for an asset or paid to transfer a liability in the most advantageous market, utilizing a hierarchy of three different valuation techniques:

Level 1—Unadjusted quoted market prices for identical instruments in active markets;

Level 2—Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs, or significant value drivers, are observable; and

Level 3—Prices reflecting the Company's own assumptions concerning unobservable inputs to the valuation model. These inputs require significant management judgment and reflect the Company's estimation of assumptions that market participants would use in pricing the asset or liability.

The following table summarizes the Company's assets and liabilities that are measured at fair value on a recurring basis:

					Fair Value Measurements

			December 31, 2010		Fair Value Measurements
			December 31, 2010		Level 1		Level 2		Level 3
Financial Assets
	Cash equivalents		$	36.0	$	36.0	$	—	$	—
	Partnership investments⁽¹⁾			124.5		16.9		21.8		85.8
	Investments in marketable securities⁽²⁾
		Trading securities		15.4		15.2		0.2		—
		Available for sale securities		100.6		99.2		1.4		—
	Interest rate derivatives			5.9		—		5.9		—
Financial Liabilities
	Contingent payment obligations⁽³⁾		$	84.0	$	—	$	—	$	84.0
	Obligations to related parties⁽⁴⁾			79.6		—		—		79.6

					Fair Value Measurements

			September 30, 2011		Fair Value Measurements
			September 30, 2011		Level 1		Level 2		Level 3
Financial Assets
	Cash equivalents		$	23.1	$	23.1	$	—	$	—
	Partnership investments⁽¹⁾			160.3		29.6		23.4		107.3
	Investments in marketable securities⁽²⁾
		Trading securities		14.1		14.1		—		—
		Available for sale securities		66.2		66.2		—		—
Financial Liabilities
	Contingent payment obligations⁽³⁾		$	93.7	$	—	$	—	$	93.7
	Obligations to related parties⁽⁴⁾			71.6		—		—		71.6
	Interest rate derivatives			9.6		—		9.6		—

(1): Partnerships investments are reported within "Prepaid expenses and other current assets" and "Other assets" on the Consolidated Balance Sheets.
(2): Principally investments in equity securities.
(3): Contingent payment obligations are reported in "Other long-term liabilities."
(4): Obligations to related parties are presented within "Payables to related party" and "Other long-term liabilities."

The following is a description of the significant assets and liabilities measured at fair value and the fair value methodologies used.

Cash equivalents consist primarily of highly liquid investments in money market funds. Cash investments in actively traded money market funds are classified as Level 1.

Partnership investments consist of investments in funds advised by Affiliates and are valued using net asset value ("NAV"). Investments in actively traded funds that calculate daily NAVs are classified as Level 1. Investments in non-public funds that hold investments with observable market prices are classified as Level 2. Investments in funds that hold illiquid securities or that are subject to redemption restrictions are classified as Level 3. The fair value of Level 3 assets is determined using NAV one quarter in arrears (adjusted for current period calls and distributions).

Investments in marketable securities consist primarily of investments in funds advised by Affiliates which are valued using NAV and in publicly traded securities. Investments in actively traded funds that calculate daily NAVs and actively traded public securities are classified as Level 1. Investments in other funds that hold investments with observable market prices are classified as Level 2.

Interest rate derivatives include Treasury rate lock contracts and interest rate swaps. The fair value of these assets is determined by model-derived valuations in which all significant inputs were observable in active markets.

Contingent payment obligations represents the present value of the expected future settlement of contingent payment arrangements related to the Company's business combinations. The fair value of these obligations is determined using an income approach with assumptions made about future cash flows and discount rates.

Obligations to related parties include agreements to repurchase Affiliate equity and liabilities offsetting certain investments which are held by the Company but economically attributable to a related party. The fair value of the agreements to repurchase Affiliate equity is determined using an income approach with assumptions made about future cash flows and discount rates. The liability to a related party is measured based upon certain investments held by the Company, the fair value of which is determined using NAV.

The following tables present the changes in Level 3 assets and liabilities for the three and nine months ended September 30, 2010 and 2011:

	Level 3 Financial Assets and Financial Liabilities at Fair Value

Three Months Ended September 30, 2010	Balance, beginning of period		Net realized gains/(losses)			Net unrealized gains/losses relating to instruments still held at the reporting date			Purchases and issuances		Settlements and reductions			Net transfers in and/or out of Level 3		Balance, end of period
Partnership investments	$	68.4	$	2.2	⁽¹⁾	$	—		$	5.8	$	(1.3	)	$	—	$	75.1
Contingent payment obligations		66.2		—			6.6	⁽²⁾		—		—			—		72.8
Obligations to related parties		51.3		(0.8)	⁽³⁾		1.9	⁽³⁾		25.6		(5.8	)		—		72.2

	Level 3 Financial Assets and Financial Liabilities at Fair Value

Three Months Ended September 30, 2011	Balance, beginning of period		Net realized gains/(losses)			Net unrealized gains/losses relating to instruments still held at the reporting date			Purchases and issuances		Settlements and reductions			Net transfers in and/or out of Level 3		Balance, end of period
Partnership investments	$	102.0	$	(0.3	)⁽¹⁾	$	3.5	⁽¹⁾	$	4.2	$	(2.1	)	$	—	$	107.3
Contingent payment obligations		91.7		—			2.0	⁽²⁾		—		—			—		93.7
Obligations to related parties		71.2		0.8	⁽³⁾		(0.4	)⁽³⁾		8.5		(8.5	)		—		71.6

	Level 3 Financial Assets and Financial Liabilities at Fair Value

Nine Months Ended September 30, 2010	Balance, beginning of period		Net realized gains/(losses)			Net unrealized gains/losses relating to instruments still held at the reporting date			Purchases and issuances		Settlements and reductions			Net transfers in and/or out of Level 3			Balance, end of period
Partnership investments	$	4.0	$	2.2	⁽¹⁾	$	—		$	73.9	$	(1.3	)	$	(3.7	)	$	75.1
Contingent payment obligations		27.1		—			8.4	⁽²⁾		64.4		(27.1	)		—			72.8
Obligations to related parties		78.7		(1.0	)⁽³⁾		1.9	⁽³⁾		76.8		(84.2	)		—			72.2

	Level 3 Financial Assets and Financial Liabilities at Fair Value

Nine Months Ended September 30, 2011	Balance, beginning of period		Net realized gains/(losses)			Net unrealized gains/losses relating to instruments still held at the reporting date			Purchases and issuances		Settlements and reductions			Net transfers in and/or out of Level 3		Balance, end of period
Partnership investments	$	85.8	$	0.7	⁽¹⁾	$	14.0	⁽¹⁾	$	12.8	$	(6.0	)	$	—	$	107.3
Contingent payment obligations		84.0		—			11.4	⁽²⁾		—		(1.7	)		—		93.7
Obligations to related parties		79.6		1.4	⁽³⁾		3.2	⁽³⁾		21.5		(34.1	)		—		71.6

(1): In the periods prior to 2011, losses on consolidated partnership investments are recorded in "Investment loss from Affiliate investments in partnerships." In 2011, gains and losses on partnership investments are recorded in "Investment and other (income) loss."
(2): Accretion related to contingent payment obligations is recorded in "Imputed interest expense" and foreign currency translation adjustments related to such obligations are recorded as "Other comprehensive income (loss)."
(3): Gains and losses associated with agreements to repurchase Affiliate equity are recorded in "Imputed interest expense." Gains and losses related to liabilities offsetting certain investments are recorded in "Investment and other (income) loss."

There were no significant transfers of financial assets or liabilities between Level 2 and Level 1 in the three-month or nine-month periods ended September 30, 2010 and 2011.

The Company relies on the NAV of certain investments as their fair value. The NAVs that have been provided by the investees have been derived from the fair values of the underlying investments as of the measurement dates. The following table summarizes, as of December 31, 2010 and September 30, 2011, the nature of these investments and any related liquidation restrictions or other factors which may impact the ultimate value realized:

	December 31, 2010				September 30, 2011

Category of Investment	Fair Value		Unfunded Commitments		Fair Value		Unfunded Commitments
Private equity fund-of-funds⁽¹⁾	$	85.7	$	89.2	$	107.3	$	84.1
Other funds⁽²⁾		55.2		—		55.4		—

	$	140.9	$	89.2	$	162.7	$	84.1

(1): These funds primarily invest in a broad range of private equity funds, as well as making direct investments. Distributions will be received as the underlying assets are liquidated over the life of the funds, generally 15 years.
(2): These are multi-disciplinary funds that invest across various asset classes and strategies including long/short equity, credit and real estate. Investments are generally redeemable on a daily or quarterly basis.

There are no current plans to sell any of these investments.

The carrying value of notes receivable approximates fair value because interest rates and other terms of the notes are at market rates. The carrying value of notes payable approximates fair value principally because of the short-term nature of the notes. The carrying value of senior bank debt approximates fair value because the debt is a credit facility with variable interest based on selected short-term rates. The fair market value of the 2008 senior convertible notes and the junior convertible trust preferred securities at September 30, 2011 was $485.0 million and $568.6 million, respectively.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 44A, 44B
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Number 107
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Variable Interest Entities

9 Months Ended

Sep. 30, 2011

Variable Interest Entities

Variable Interest Entities

12. Variable Interest Entities

Sponsored Investment Funds

The Company's Affiliates act as the investment manager for certain investment funds that are considered variable interest entities ("VIEs"). In addition to an Affiliate's involvement as the investment manager, Affiliates may also hold investments in these products. Affiliates are not the primary beneficiary of these VIEs as their involvement is limited to that of a service provider and their investment, if any, represents an insignificant interest in the fund's assets under management. As a result, the Company's variable interests will not absorb the majority of the variability of the entity's net assets and therefore the Company has not consolidated these entities.

Trust Preferred Vehicles

The Company established wholly-owned trusts in connection with the 2006 and 2007 issuances of junior convertible trust preferred securities. These entities are considered VIEs and the Company is not the primary beneficiary, therefore these entities are not consolidated in the Company's financial statements.

The net assets and liabilities of these unconsolidated VIEs and the Company's maximum risk of loss related thereto are as follows:

	December 31, 2010				September 30, 2011

	Unconsolidated VIE Net Assets		Carrying Value and Maximum Exposure to Loss		Unconsolidated VIE Net Assets		Carrying Value and Maximum Exposure to Loss
Sponsored investment funds	$	3,350.7	$	0.9	$	3,151.9	$	1.0
Trust preferred vehicles		9.0		9.0		9.0		9.0

Related Party Transactions

9 Months Ended

Sep. 30, 2011

Related Party Transactions

Related Party Transactions

13. Related Party Transactions

The Company periodically records amounts receivable and payable to Affiliate partners in connection with the transfer of Affiliate equity interests. The Company also has liabilities to related parties for deferred purchase price and contingent payment obligations in connection with certain business combinations.

The total receivable at December 31, 2010 was $42.9 million, which is included in "Other assets." The total receivable at September 30, 2011 was $48.6 million, of which $3.1 million is included in "Prepaid expenses and other current assets" and $45.5 million is included in "Other assets." The total payable at December 31, 2010 was $183.0 million, of which $114.8 million is included in "Payables to related party" and $68.2 million is included in "Other long-term liabilities." The total payable at September 30, 2011 was $72.5 million, of which $12.9 million is included in "Payables to related party" and $59.6 million is included in "Other long-term liabilities."

In certain cases, Affiliate management owners and Company officers may serve as trustees or directors of certain mutual funds from which the Affiliate earns advisory fee revenue.

- Definition

The entire disclosure for related party transactions, including the nature of the relationship(s), a description of the transactions, the amount of the transactions, the effects of any change in the method of establishing the terms of the transaction from the previous period, stated interest rate, expiration date, terms and manner of settlement per the agreement with the related party, and amounts due to or from related parties. If the entity and one or more other entities are under common ownership or management control and this control affects the operating results or financial position, disclosure includes the nature of the control relationship even if there are no transactions between the entities. Disclosure may also include the aggregate amount of current and deferred tax expense for each statement of earnings presented where the entity is a member of a group that files a consolidated tax return, the amount of any tax related balances due to or from affiliates as of the date of each statement of financial position presented, the principal provisions of the method by which the consolidated amount of current and deferred tax expense is allocated to the members of the group and the nature and effect of any changes in that method. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 4
-Section 08
-Paragraph k

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 3A
-Section 04
-Paragraph b

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 57
-Paragraph 1-4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Stock Option and Incentive Plans

9 Months Ended

Sep. 30, 2011

Stock Option and Incentive Plans

Stock Option and Incentive Plans

14. Stock Option and Incentive Plans

The following summarizes the transactions of the Company's stock option and incentive plans for the nine months ended September 30, 2011:

				Weighted Average Exercise Price

Unexercised options outstanding—January 1, 2011		5.1		$	62.34
	Options granted	0.5			99.66
	Options exercised	(0.4	)		47.48
	Options forfeited	(0.0	)		110.42

Unexercised options outstanding—September 30, 2011		5.2			67.45	4.7

Exercisable at September 30, 2011		2.3			59.21	3.6

The Company's Net Income (controlling interest) for the three and nine months ended September 30, 2011 includes compensation expense of $4.5 million and $11.9 million, respectively (net of income tax benefits of $2.8 million and $7.4 million, respectively, related to the Company's Stock Option and Incentive, Executive Incentive, Long-Term Equity Interests and Deferred Compensation Plans). As of September 30, 2011, the Company expects to recognize compensation expense related to these share-based compensation arrangements of $73.2 million over a weighted average period of approximately three years (assuming no forfeitures). As of September 30, 2011, no outstanding options have expiration dates prior to the end of 2011.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 123R
-Paragraph 64, 65, A240
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 93-6
-Paragraph 53
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 14

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-Name Accounting Standards Codification
-Topic 505
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-Paragraph 1
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-SubTopic 40
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929

+ Details

Derivative Financial Instruments

9 Months Ended

Sep. 30, 2011

Derivative Financial Instruments

Derivative Financial Instruments

15. Derivative Financial Instruments

From time to time, the Company seeks to offset its exposure to changing interest rates under its debt financing arrangements by entering into interest rate hedging contracts. The Company does not hold or issue derivative financial instruments for speculative purposes.

In 2010, the Company entered into interest rate swap contracts as summarized in the table below:

	Notional Amount				Receiving	Start Date	Expiration Date

Counterparty A	$	25.0	1.67	%	3-Month LIBOR	October 2010	October 2015
Counterparty A	$	25.0	1.65	%	3-Month LIBOR	October 2010	October 2015
Counterparty B	$	25.0	1.59	%	3-Month LIBOR	October 2010	October 2015
Counterparty B	$	25.0	2.14	%	3-Month LIBOR	October 2010	October 2017

In November 2010, the Company entered into a series of treasury rate lock contracts with a total notional value of $100.0 million which were settled in February 2011 for a net pre-tax gain of $4.0 million (each contract was designated and qualified as a cash flow hedge). In the third quarter of 2011, the Company entered into a series of treasury rate lock contracts with a total notional value of $75.0 million which were settled in October 2011 for a net pre-tax loss of $4.7 million (each contract was designated and qualified as a cash flow hedge). These contracts were intended to hedge the risks associated with changes in interest rates on a fixed-rate debt issuance that is anticipated to occur prior to June 2012. The net loss on these contracts ($0.7 million) is reflected as a component of other comprehensive income and will be recognized as an increase to interest expense over the life of the expected fixed rate debt issuance, or recorded within other income and loss in the event the Company determines that it is not probable it will issue the anticipated fixed rate debt.

The Company's derivative contracts contain provisions that may require the Company or the counterparties to post collateral based upon the current fair value of the derivative contracts. As of September 30, 2011, the Company had posted collateral of $7.3 million related to its interest rate swap and treasury rate lock contracts.

The Company records all derivative instruments on the balance sheet at fair value. As cash flow hedges, the effective portion of the unrealized gain or loss on the derivative instruments is recorded in accumulated other comprehensive income as a separate component of stockholders' equity. Hedge effectiveness is measured by comparing the present value of the cumulative change in the expected future variable cash flows of the hedged contract with the present value of the cumulative change in the expected future variable cash flows of the hedged item. To the extent that the critical terms of the hedged item and the derivative are not identical, hedge ineffectiveness would be reported in earnings as interest expense. Hedge ineffectiveness was not material in any periods presented. The Company does not expect to reclassify any material portion of the unrealized loss into earnings in the next twelve months.

The following summarizes the location and amount of derivative instrument gains and losses (before taxes) reported in the Consolidated Statements of Income:

	Amount of Gain (Loss) Recognized in Other Comprehensive Income						Amount of Gain (Loss) Recognized in Other Comprehensive Income

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2010			2011			2010			2011
Cash Flow Hedges
Interest rate swaps	$	(0.6	)	$	(3.6	)	$	(0.6	)	$	(5.4	)
Treasury rate locks		—			(6.7	)		—			(6.2	)

Total	$	(0.6	)	$	(10.3	)	$	(0.6	)	$	(11.6	)

The following summarizes the location and fair values of derivative instruments on the Consolidated Balance Sheets:

	December 31, 2010		September 30, 2011

Cash Flow Hedges
Interest rate swaps⁽¹⁾	$	2.5	$	(2.9	)
Treasury rate locks⁽²⁾		3.4		(6.7	)

Total	$	5.9	$	(9.6	)

(1): Presented within "Other assets" and "Other long-term liabilities" as of December 31, 2010 and September 30, 2011, respectively.
(2): Presented within "Prepaid expenses and other current assets" and "Accounts payable and accrued liabilities" as of December 31, 2010 and September 30, 2011, respectively.

- Definition

The entire disclosure for the entity's entire derivative instruments and hedging activities. Describes an entity's risk management strategies, derivatives in hedging activities and non-hedging derivative instruments, the assets, obligations, liabilities, revenues and expenses arising therefrom, and the amounts of and methodologies and assumptions used in determining the amounts of such items.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 45
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 44
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Publisher FASB
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+ Details

Segment Information

9 Months Ended

Sep. 30, 2011

Segment Information

Segment Information

16. Segment Information

Management has assessed and determined that the Company operates in three business segments representing the Company's three principal distribution channels: Mutual Fund, Institutional and High Net Worth, each of which has different client relationships.

Revenue in the Mutual Fund distribution channel is earned from advisory and sub-advisory relationships with all domestically-registered investment products as well as non-institutional investment products that are registered abroad.

Revenue in the Institutional distribution channel is earned from relationships with foundations and endowments, defined benefit and defined contribution plans and Taft-Hartley plans. Revenue in the High Net Worth distribution channel is earned from relationships with high net worth individuals, family trusts and managed account programs.

Revenue earned from client relationships managed by Affiliates accounted for under the equity method is not consolidated with the Company's reported revenue but instead is included (net of operating expenses, including amortization) in "Income from equity method investments," and reported in the distribution channel in which the Affiliate operates. Income tax attributable to the profits of the Company's equity-method Affiliates is reported within the Company's consolidated income tax provision.

In firms with revenue sharing arrangements, a certain percentage of revenue is allocated for use by management of an Affiliate in paying operating expenses of that Affiliate, including salaries and bonuses, and is called an "Operating Allocation." In reporting segment operating expenses, Affiliate expenses are allocated to a particular segment on a pro rata basis with respect to the revenue generated by that Affiliate in such segment. Generally, as revenue increases, additional compensation is typically paid to Affiliate management partners from the Operating Allocation. As a result, the contractual expense allocation pursuant to a revenue sharing arrangement may result in the characterization of any growth in profit margin beyond the Company's Owners' Allocation as an operating expense. All other operating expenses (excluding intangible amortization) and interest expense are generally allocated to segments based on the proportion of cash flow distributions reported by Affiliates in each segment.

Statements of Income

		For the Three Months Ended September 30, 2010

		Mutual Fund			Institutional			High Net Worth			Total
Revenue		$	151.8		$	171.0		$	31.6		$	354.4
Operating expenses:
	Depreciation and other amortization		3.7			18.5			2.0			24.2
	Other operating expenses		106.0			109.0			19.6			234.6

			109.7			127.5			21.6			258.8

Operating income			42.1			43.5			10.0			95.6

Non-operating (income) and expenses:
	Investment and other (income) loss		(5.4	)		(5.2	)		(0.8	)		(11.4	)
	Income from equity method investments		(0.4	)		(8.2	)		(0.9	)		(9.5	)
	Interest expense		8.8			12.7			2.0			23.5

			3.0			(0.7	)		0.3			2.6

Income before income taxes			39.1			44.2			9.7			93.0
Income taxes			11.7			10.4			1.9			24.0

Net income			27.4			33.8			7.8			69.0
	Net income (non-controlling interests)		(13.9	)		(17.0	)		(4.1	)		(35.0	)

Net Income (controlling interest)		$	13.5		$	16.8		$	3.7		$	34.0

		For the Three Months Ended September 30, 2011

		Mutual Fund			Institutional			High Net Worth			Total
Revenue		$	179.0		$	199.6		$	35.2		$	413.8
Operating expenses:
	Depreciation and other amortization		4.2			19.8			2.1			26.1
	Other operating expenses		119.3			120.9			21.5			261.7

			123.5			140.7			23.6			287.8

Operating income			55.5			58.9			11.6			126.0

Non-operating (income) and expenses:
	Investment and other (income) loss		5.5			2.6			1.4			9.5
	Income from equity method investments		(2.0	)		(6.6	)		(1.2	)		(9.8	)
	Interest expense		10.8			13.4			2.2			26.4

			14.3			9.4			2.4			26.1

Income before income taxes			41.2			49.5			9.2			99.9
Income taxes			8.1			9.5			2.2			19.8

Net income			33.1			40.0			7.0			80.1
	Net income (non-controlling interests)		(14.7	)		(22.3	)		(3.0	)		(40.0	)

Net Income (controlling interest)		$	18.4		$	17.7		$	4.0		$	40.1

		For the Nine Months Ended September 30, 2010

		Mutual Fund			Institutional			High Net Worth			Total
Revenue		$	397.7		$	445.1		$	94.7		$	937.5
Operating expenses:
	Depreciation and other amortization		8.5			34.3			6.4			49.2
	Other operating expenses		275.4			291.7			61.2			628.3

			283.9			326.0			67.6			677.5

Operating income			113.8			119.1			27.1			260.0

Non-operating (income) and expenses:
	Investment and other (income) loss		(4.8	)		(7.7	)		(2.4	)		(14.9	)
	Income from equity method investments		(1.2	)		(24.6	)		(2.7	)		(28.5	)
	Investment loss from Affiliate investments in partnerships		0.1			0.2			4.2			4.5
	Interest expense		24.0			35.1			6.9			66.0

			18.1			3.0			6.0			27.1

Income before income taxes			95.7			116.1			21.1			232.9
Income taxes			24.8			23.3			4.8			52.9

Net income			70.9			92.8			16.3			180.0
	Net income (non-controlling interests)		(39.7	)		(56.2	)		(11.9	)		(107.8	)
	Net loss (non-controlling interests in partnerships)		0.1			0.2			4.1			4.4

Net Income (controlling interest)		$	31.3		$	36.8		$	8.5		$	76.6

		For the Nine Months Ended September 30, 2011

		Mutual Fund			Institutional			High Net Worth			Total
Revenue		$	555.7		$	640.6		$	106.1		$	1,302.4
Operating expenses:
	Depreciation and other amortization		12.3			59.3			6.3			77.9
	Other operating expenses		375.7			392.0			65.9			833.6

			388.0			451.3			72.2			911.5

Operating income			167.7			189.3			33.9			390.9

Non-operating (income) and expenses:
	Investment and other (income) loss		2.0			(6.9	)		11.7			6.8
	Income from equity method investments		(2.5	)		(34.2	)		(3.4	)		(40.1	)
	Interest expense		31.6			42.3			6.6			80.5

			31.1			1.2			14.9			47.2

Income before income taxes			136.6			188.1			19.0			343.7
Income taxes			30.8			39.8			2.6			73.2

Net income			105.8			148.3			16.4			270.5
	Net income (non-controlling interests)		(52.0	)		(82.0	)		(11.9	)		(145.9	)

Net Income (controlling interest)		$	53.8		$	66.3		$	4.5		$	124.6

Balance Sheet Information
Total assets as of December 31, 2010		$	1,847.9		$	3,009.3		$	434.0		$	5,291.2
Total assets as of September 30, 2011		$	1,932.3		$	2,778.4		$	421.1		$	5,131.8

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 131
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Publisher FASB
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+ Details

Goodwill and Acquired Client Relationships

9 Months Ended

Sep. 30, 2011

Goodwill and Acquired Client Relationships

Goodwill and Acquired Client Relationships

17. Goodwill and Acquired Client Relationships

The following table presents the change in goodwill during the nine months ended September 30, 2011:

	Mutual Fund			Institutional			High Net Worth			Total

Balance, as of December 31, 2010	$	785.9		$	1,083.7		$	261.6		$	2,131.2
Purchase price adjustments		1.2			(5.7	)		—			(4.5	)
Goodwill acquired		—			0.1			1.3			1.4
Foreign currency translation		(1.9	)		(5.7	)		(4.4	)		(12.0	)

Balance, as of September 30, 2011	$	785.2		$	1,072.4		$	258.5		$	2,116.1

The Company performed its annual goodwill assessment as of September 30, 2011 and no impairments were identified.

The following table reflects the components of intangible assets of the Company's Affiliates that are consolidated as of December 31, 2010 and September 30, 2011:

		December 31, 2010				September 30, 2011

		Carrying Amount		Accumulated Amortization		Carrying Amount		Accumulated Amortization
Amortized intangible assets:
	Acquired client relationships	$	974.8	$	228.6	$	969.5	$	294.9
Non-amortized intangible assets:
Acquired client relationships-mutual fund management contracts			678.0		—		677.5		—
	Goodwill		2,131.2		—		2,116.1		—

For the Company's Affiliates that are consolidated, definite-lived acquired client relationships are amortized over their expected useful lives. As of September 30, 2011, these relationships were being amortized over a weighted average life of approximately 10 years. The Company estimates that its consolidated annual amortization expense will be approximately $88.5 million for the next five years, assuming no additional investments in new or existing Affiliates.

The definite-lived acquired client relationships attributable to the Company's equity method investments are amortized over their expected useful lives. As of September 30, 2011, these relationships were being amortized over approximately seven years. Amortization expense for these relationships was $24.8 million for the nine months ended September 30, 2011. Assuming no additional investments in new or existing Affiliates, the Company estimates the annual amortization expense attributable to its current equity-method Affiliates for the next five years as follows:

Year Ending December 31,	Estimated Amortization Expense

2011	$	32.9
2012		32.8
2013		32.8
2014		11.3
2015		4.1

Indefinite-lived intangible assets are comprised of investment advisory contracts between the Company's Affiliates and their sponsored registered investment companies. Because the contracts are with the registered investment companies themselves, and not with the underlying investors, and the contracts between the Company's Affiliates and the registered investment companies are typically renewed on an annual basis, generally accepted accounting principles consider the contract life to be indefinite and, as a result, not amortizable. At September 30, 2011, the fair value of the indefinite-lived intangible assets at one of the Company's Affiliates, a manager of growth-oriented U.S. equity mutual funds, has declined significantly, and further declines in the fair value of these assets could result in a future impairment.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Affiliate Equity

9 Months Ended

Sep. 30, 2011

Affiliate Equity

Affiliate Equity

18. Affiliate Equity

Many of the Company's operating agreements provide the Company a conditional right to call and Affiliate partners the conditional right to put their retained equity interests at certain intervals. The purchase price of these conditional purchases are generally calculated based upon a multiple of the Affiliate's cash flow distributions, which is intended to represent fair value. Affiliate management partners are also permitted to sell their equity interests to other individuals or entities in certain cases, subject to the Company's approval or other restrictions. The Company, at its option, may pay for Affiliate equity purchases in cash, shares of its common stock or other forms of consideration and can consent to the transfer of these interests to other individuals or entities.

The current redemption value of these interests has been presented as "Redeemable non-controlling interests" on the Company's Consolidated Balance Sheets. Changes in the current redemption value are recorded to Additional paid-in capital. The following table presents the changes in Redeemable non-controlling interests during the period:


Balance as of January 1, 2011	$	406.3
Issuance of Redeemable non-controlling interest		51.7
Repurchase of Redeemable non-controlling interest		(20.9	)
Changes in redemption value		18.4

Balance as of September 30, 2011	$	455.5

During the three and nine months ended September 30, 2010 and 2011, the Company acquired interests from and transferred interests to Affiliate management partners. The following schedule discloses the effect of changes in the Company's ownership interest in its Affiliates on the controlling interest's equity:

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,

	2010			2011			2010			2011
Net Income (controlling interest)	$	34.0		$	40.1		$	76.6		$	124.6
Increase (decrease) in controlling interest paid-in capital from purchases and sales of Affiliate equity		(12.8	)		(5.1	)		(32.5	)		(4.6	)

Change from Net Income (controlling interest) and net transfers with non-controlling interests	$	21.2		$	35.0		$	44.1		$	120.0

Comprehensive Income

9 Months Ended

Sep. 30, 2011

Comprehensive Income

Comprehensive Income

19. Comprehensive Income

A summary of comprehensive income, net of applicable taxes, is as follows:

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,

	2010			2011			2010			2011
Net income	$	69.0		$	80.1		$	180.0		$	270.5
Foreign currency translation adjustment		20.0			(34.6	)		15.2			(17.7	)
Change in net realized and unrealized loss on derivative securities		—			(6.3	)		—			(7.1	)
Change in net unrealized gain (loss) on investment securities		3.8			(40.5	)		9.8			(46.7	)

Comprehensive income (loss)		92.8			(1.3	)		205.0			199.0
Comprehensive income (non-controlling interests)		(35.0	)		(40.0	)		(103.4	)		(145.9	)

Comprehensive income (loss) (controlling interest)	$	57.8		$	(41.3	)	$	101.6		$	53.1

The components of accumulated other comprehensive income, net of applicable taxes, are as follows:

	December 31, 2010		September 30, 2011

Foreign currency translation adjustments	$	67.9	$	50.2
Realized and unrealized gains (losses) on derivative securities		3.7		(3.4	)
Unrealized gain (loss) on investment securities		28.9		(17.8	)

Accumulated other comprehensive income	$	100.5	$	29.0

- Definition

The entire disclosure for comprehensive income. Includes, but is not limited to, the following: 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. Components of comprehensive income include: (1) foreign currency translation adjustments; (2) gains (losses) on foreign currency transactions that are designated as, and are effective as, economic hedges of a net investment in a foreign entity; (3) gains (losses) on intercompany foreign currency transactions that are of a long-term-investment nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; (4) change in the market value of a futures contract that qualifies as a hedge of an asset reported at fair value; (5) unrealized holding gains (losses) on available-for-sale securities and that resulting from transfers of debt securities from the held-to-maturity category to the available-for-sale category; (6) a net loss recognized as an additional pension liability not yet recognized as net periodic pension cost; and (7) the net gain (loss) and net prior service cost or credit for pension plans and other postretirement benefit plans.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 14-26
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6522872

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+ Details

Recent Accounting Developments

9 Months Ended

Sep. 30, 2011

Recent Accounting Developments

Recent Accounting Developments

20. Recent Accounting Developments

In September 2011, the Financial Accounting Standards Board issued new guidance on testing goodwill for impairment. The new guidance provides the option of performing a qualitative assessment before proceeding with a quantitative goodwill impairment test. Following an assessment of qualitative factors, if an entity determines that it is more likely than not that the fair value of a reporting unit is greater than its carrying amount, including goodwill, then a quantitative assessment is unnecessary. This guidance is effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011, with early adoption permitted. The Company early-adopted this guidance for its annual goodwill impairment testing which was performed in the third quarter of 2011. Adoption of this new guidance did not have a material impact on the Company's Consolidated Financial Statements.

In June 2011, the Financial Accounting Standards Board issued new guidance on the presentation of comprehensive income. This new guidance requires the components of net income and other comprehensive income to be either presented in one continuous statement, or in two separate, but consecutive statements. The new guidance does not change the items that are recognized in net income or other comprehensive income. This new guidance is effective for interim and fiscal periods beginning after December 15, 2011. Adoption of this new guidance is not expected to have a material impact on the Company's Consolidated Financial Statements.

In May 2011, the Financial Accounting Standards Board issued an update to the fair value measurements and disclosures guidance. The new guidance clarifies existing fair value measurement principles and expands certain disclosure requirements, particularly for measurements categorized as Level 3. The amendment is effective for interim and fiscal periods beginning after December 15, 2011. Adoption of this new guidance is not expected to have a material impact on the Company's Consolidated Financial Statements.

Subsequent Event

9 Months Ended

Sep. 30, 2011

Subsequent Event

Subsequent Event

21. Subsequent Event

On October 18, 2011, the Board of Directors approved a share repurchase program authorizing the Company to repurchase up to 2.0 million shares of common stock, in addition to those shares that may be purchased pursuant to the Company's previously authorized share repurchase programs. Purchases may be made from time to time, at management's discretion, in the open market or in privately negotiated transactions, including through the use of derivative instruments. As of October 18, 2011, there were approximately 3.0 million shares that could be purchased under the Company's share repurchase programs.

The Company entered into a $1.0 billion senior unsecured credit facility in November 2011 (the "amended credit facility"), consisting of a $750 million revolving credit facility (the "revolver") and a $250 million term loan (the "term loan"), the principal terms of which are similar to the Company's previous senior unsecured revolving credit facility. The term loan and $720 million of the revolver have a five-year maturity (maturing November 3, 2016); the remaining $30 million of the revolver matures January 12, 2015. Subject to certain conditions, the Company may increase the revolver and the term loan by up to $150 million and $250 million, respectively. The term loan borrowings were used to repay the outstanding balance under the previous revolving credit facility ($210 million) and for general corporate purposes.

The amended credit facility is unsecured and contains financial covenants with respect to leverage and interest coverage, as well as customary affirmative and negative covenants, including limitations on indebtedness, liens, cash dividends, asset dispositions and fundamental corporate changes.

Convertible Securities (Tables)

9 Months Ended

Sep. 30, 2011

Convertible Securities

Schedule of carrying amount and fair value of convertible notes

		December 31, 2010				September 30, 2011

		Carrying Value		Principal amount at maturity		Carrying Value		Principal amount at maturity
Senior convertible securities:
	2008 senior convertible notes⁽¹⁾	$	422.1	$	460.0	$	432.2	$	460.0

Junior convertible trust preferred securities:
	2007 junior convertible trust preferred securities⁽¹⁾	$	296.3	$	430.8	$	297.4	$	430.8
	2006 junior convertible trust preferred securities⁽¹⁾		213.6		300.0		214.5		300.0

	Total junior convertible securities	$	509.9	$	730.8	$	511.9	$	730.8

(1): Carrying value is accreted to the principal amount at maturity over an expected life of five years for the 2008 senior convertible notes and 30 years for each of the junior convertible trust preferred securities.

Schedule of principal terms of convertible notes

	2008 Senior Convertible Notes⁽¹⁾		2007 Junior Convertible Trust Preferred Securities⁽²⁾		2006 Junior Convertible Trust Preferred Securities⁽³⁾

Issue Date	August 2008		October 2007		April 2006
Maturity Date	August 2038		October 2037		April 2036
Next Potential Put Date	August 2013		N/A		N/A
Denomination	$1,000		$50		$50
Current Conversion Rate	7.959		0.250		0.333
Current Conversion Price	$125.65		$200.00		$150.00
Stated Coupon	3.95	%	5.15	%	5.10	%
Coupon Frequency	Semi-annually		Quarterly		Quarterly
Tax Deduction Rate⁽⁴⁾	9.38	%	8.00	%	7.50	%

(1): The Company may redeem the notes for cash (subject to the holders' rights to convert) at any time on or after August 15, 2013.
(2): The Company may redeem the 2007 junior convertible trust preferred securities on or after October 15, 2012 if the closing price of the Company's common stock exceeds $260 per share for a specified period of time.
(3): The Company may redeem the 2006 junior convertible trust preferred securities at any time if the closing price of the Company's common stock exceeds $195 per share for a specified period of time.
(4): These convertible securities are considered contingent payment debt instruments under federal income tax regulations, which require the Company to deduct interest in an amount greater than its reported interest expense. These deductions result in annual deferred tax liabilities of approximately $22.5 million. These deferred tax liabilities will be reclassified directly to stockholders' equity if the Company's common stock is trading above certain thresholds at the time of the conversion of the securities.

Income Taxes (Tables)

9 Months Ended

Sep. 30, 2011

Income Taxes

Schedule of income tax provision attributable to controlling interests and to non-controlling interests

			For the Three Months Ended September 30,						For the Nine Months Ended September 30,

			2010			2011			2010			2011
Controlling Interest:
	Current Tax		$	7.9		$	1.9		$	15.8		$	31.9
	Intangible related deferred taxes			9.8			10.4			34.9			36.2
	Other Deferred Taxes			(1.4	)		6.2			(8.4	)		(1.6	)

		Total Controlling Interest		16.3			18.5			42.3			66.5

Non-Controlling Interests:
	Current Tax		$	9.5		$	3.1		$	12.8		$	9.5
	Deferred Taxes			(1.8	)		(1.8	)		(2.2	)		(2.8	)

		Total Non-Controlling Interests		7.7			1.3			10.6			6.7

Provision for income taxes			$	24.0		$	19.8		$	52.9		$	73.2

Income before income taxes (controlling interest)			$	50.3		$	58.6		$	118.9		$	191.1

Effective Tax rate attributable to controlling interests⁽¹⁾				32.4	%		31.6	%		35.6	%		34.8	%

(1): Taxes attributable to the controlling interest divided by Income before income taxes (controlling interest).

Schedule of consolidated provision for income taxes

		For the Three Months Ended September 30,						For the Nine Months Ended September 30,

		2010			2011			2010			2011
Current:
	Federal	$	0.2		$	(7.6	)	$	—		$	5.6
	State		1.9			1.6			5.3			6.5
	Foreign		15.3			11.0			23.3			29.3

Total Current			17.4			5.0			28.6			41.4

Deferred:
	Federal	$	12.9		$	17.9		$	29.3		$	38.4
	State		(0.1	)		0.5			2.8			1.7
	Foreign		(6.2	)		(3.6	)		(7.8	)		(8.3	)

Total Deferred			6.6			14.8			24.3			31.8

Provision for Income Taxes		$	24.0		$	19.8		$	52.9		$	73.2

Schedule of components of deferred tax assets and liabilities

		December 31, 2010			September 30, 2011

Deferred Tax Assets
	State net operating loss carryforwards	$	30.6		$	27.9
	Foreign tax credit carryforwards		17.3			20.6
	Deferred compensation		10.3			15.3
	Tax benefit of uncertain tax positions		10.8			11.5
	Accrued expenses		8.5			11.6
	Unrealized losses		—			8.4
	Capital loss carryforwards		1.5			1.5

Total deferred tax assets			79.0			96.8
Valuation allowance			(38.4	)		(36.3	)

Deferred tax assets, net of valuation allowance		$	40.6		$	60.5

Deferred Tax Liabilities
	Intangible asset amortization	$	(209.3	)	$	(241.4	)
	Convertible securities interest		(154.5	)		(166.8	)
	Non-deductible intangible amortization		(143.1	)		(135.2	)
	Deferred revenue		(26.3	)		(3.9	)
	Other		(2.8	)		(2.7	)

Total deferred tax liabilities			(536.0	)		(550.0	)

	Net deferred tax liability	$	(495.4	)	$	(489.5	)

Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2011

Earnings Per Share

Schedule of reconciliation of the numerator and denominator used in the calculation of basic and diluted earnings per share

		For the Three Months Ended September 30,				For the Nine Months Ended September 30,

		2010		2011		2010		2011
Numerator:
Net Income (controlling interest)		$	34.0	$	40.1	$	76.6	$	124.6
Interest expense on convertible securities, net of taxes			—		—		0.1		—

Net Income (controlling interest), as adjusted		$	34.0	$	40.1	$	76.7	$	124.6

Denominator:
Average shares outstanding—basic			51.2		51.9		46.1		51.9
Effect of dilutive instruments:
	Stock options		0.7		1.1		0.8		1.3
	Forward sale		0.0		—		1.3		—
	Senior convertible securities		—		—		0.5		—

Average shares outstanding—diluted			51.9		53.0		48.7		53.2

Diluted earnings per share calculations excluding the anti-dilutive effect of shares

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,

	2010		2011		2010		2011
Stock options		1.8		1.2		1.8		1.2
Senior convertible securities		3.7		3.7		3.7		3.7
Junior convertible trust preferred securities		4.2		4.2		4.2		4.2

Investments in Marketable Securities (Tables)

9 Months Ended

Sep. 30, 2011

Investments in Marketable Securities

Summary of investments in marketable securities

		December 31, 2010			September 30, 2011

Cost of investments in marketable securities		$	68.9		$	108.2
Gross unrealized gains			47.1			1.5
Gross unrealized losses			(0.0	)		(29.4	)

	Total	$	116.0		$	80.3

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2011

Fair Value Measurements

Schedule of fair value of assets and liabilities measured on a recurring basis

					Fair Value Measurements

			December 31, 2010		Fair Value Measurements
			December 31, 2010		Level 1		Level 2		Level 3
Financial Assets
	Cash equivalents		$	36.0	$	36.0	$	—	$	—
	Partnership investments⁽¹⁾			124.5		16.9		21.8		85.8
	Investments in marketable securities⁽²⁾
		Trading securities		15.4		15.2		0.2		—
		Available for sale securities		100.6		99.2		1.4		—
	Interest rate derivatives			5.9		—		5.9		—
Financial Liabilities
	Contingent payment obligations⁽³⁾		$	84.0	$	—	$	—	$	84.0
	Obligations to related parties⁽⁴⁾			79.6		—		—		79.6

					Fair Value Measurements

			September 30, 2011		Fair Value Measurements
			September 30, 2011		Level 1		Level 2		Level 3
Financial Assets
	Cash equivalents		$	23.1	$	23.1	$	—	$	—
	Partnership investments⁽¹⁾			160.3		29.6		23.4		107.3
	Investments in marketable securities⁽²⁾
		Trading securities		14.1		14.1		—		—
		Available for sale securities		66.2		66.2		—		—
Financial Liabilities
	Contingent payment obligations⁽³⁾		$	93.7	$	—	$	—	$	93.7
	Obligations to related parties⁽⁴⁾			71.6		—		—		71.6
	Interest rate derivatives			9.6		—		9.6		—

(1): Partnerships investments are reported within "Prepaid expenses and other current assets" and "Other assets" on the Consolidated Balance Sheets.
(2): Principally investments in equity securities.
(3): Contingent payment obligations are reported in "Other long-term liabilities."
(4): Obligations to related parties are presented within "Payables to related party" and "Other long-term liabilities."

Schedule of changes in Level 3 assets and liabilities

	Level 3 Financial Assets and Financial Liabilities at Fair Value

Three Months Ended September 30, 2010	Balance, beginning of period		Net realized gains/(losses)			Net unrealized gains/losses relating to instruments still held at the reporting date			Purchases and issuances		Settlements and reductions			Net transfers in and/or out of Level 3		Balance, end of period
Partnership investments	$	68.4	$	2.2	⁽¹⁾	$	—		$	5.8	$	(1.3	)	$	—	$	75.1
Contingent payment obligations		66.2		—			6.6	⁽²⁾		—		—			—		72.8
Obligations to related parties		51.3		(0.8)	⁽³⁾		1.9	⁽³⁾		25.6		(5.8	)		—		72.2

	Level 3 Financial Assets and Financial Liabilities at Fair Value

Three Months Ended September 30, 2011	Balance, beginning of period		Net realized gains/(losses)			Net unrealized gains/losses relating to instruments still held at the reporting date			Purchases and issuances		Settlements and reductions			Net transfers in and/or out of Level 3		Balance, end of period
Partnership investments	$	102.0	$	(0.3	)⁽¹⁾	$	3.5	⁽¹⁾	$	4.2	$	(2.1	)	$	—	$	107.3
Contingent payment obligations		91.7		—			2.0	⁽²⁾		—		—			—		93.7
Obligations to related parties		71.2		0.8	⁽³⁾		(0.4	)⁽³⁾		8.5		(8.5	)		—		71.6

	Level 3 Financial Assets and Financial Liabilities at Fair Value

Nine Months Ended September 30, 2010	Balance, beginning of period		Net realized gains/(losses)			Net unrealized gains/losses relating to instruments still held at the reporting date			Purchases and issuances		Settlements and reductions			Net transfers in and/or out of Level 3			Balance, end of period
Partnership investments	$	4.0	$	2.2	⁽¹⁾	$	—		$	73.9	$	(1.3	)	$	(3.7	)	$	75.1
Contingent payment obligations		27.1		—			8.4	⁽²⁾		64.4		(27.1	)		—			72.8
Obligations to related parties		78.7		(1.0	)⁽³⁾		1.9	⁽³⁾		76.8		(84.2	)		—			72.2

	Level 3 Financial Assets and Financial Liabilities at Fair Value

Nine Months Ended September 30, 2011	Balance, beginning of period		Net realized gains/(losses)			Net unrealized gains/losses relating to instruments still held at the reporting date			Purchases and issuances		Settlements and reductions			Net transfers in and/or out of Level 3		Balance, end of period
Partnership investments	$	85.8	$	0.7	⁽¹⁾	$	14.0	⁽¹⁾	$	12.8	$	(6.0	)	$	—	$	107.3
Contingent payment obligations		84.0		—			11.4	⁽²⁾		—		(1.7	)		—		93.7
Obligations to related parties		79.6		1.4	⁽³⁾		3.2	⁽³⁾		21.5		(34.1	)		—		71.6

(1): In the periods prior to 2011, losses on consolidated partnership investments are recorded in "Investment loss from Affiliate investments in partnerships." In 2011, gains and losses on partnership investments are recorded in "Investment and other (income) loss."
(2): Accretion related to contingent payment obligations is recorded in "Imputed interest expense" and foreign currency translation adjustments related to such obligations are recorded as "Other comprehensive income (loss)."
(3): Gains and losses associated with agreements to repurchase Affiliate equity are recorded in "Imputed interest expense." Gains and losses related to liabilities offsetting certain investments are recorded in "Investment and other (income) loss."

Schedule of investments

	December 31, 2010				September 30, 2011

Category of Investment	Fair Value		Unfunded Commitments		Fair Value		Unfunded Commitments
Private equity fund-of-funds⁽¹⁾	$	85.7	$	89.2	$	107.3	$	84.1
Other funds⁽²⁾		55.2		—		55.4		—

	$	140.9	$	89.2	$	162.7	$	84.1

(1): These funds primarily invest in a broad range of private equity funds, as well as making direct investments. Distributions will be received as the underlying assets are liquidated over the life of the funds, generally 15 years.
(2): These are multi-disciplinary funds that invest across various asset classes and strategies including long/short equity, credit and real estate. Investments are generally redeemable on a daily or quarterly basis.

Variable Interest Entities (Tables)

9 Months Ended

Sep. 30, 2011

Variable Interest Entities

Schedule of net assets and liabilities and maximum risk of losses related to unconsolidated VIEs

	December 31, 2010				September 30, 2011

	Unconsolidated VIE Net Assets		Carrying Value and Maximum Exposure to Loss		Unconsolidated VIE Net Assets		Carrying Value and Maximum Exposure to Loss
Sponsored investment funds	$	3,350.7	$	0.9	$	3,151.9	$	1.0
Trust preferred vehicles		9.0		9.0		9.0		9.0

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 46R
-Paragraph 4
-Subparagraph g
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 46R
-Paragraph 2, 14, 15, 16, 23, 24, 25, 26
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 140
-Paragraph 35
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6970148&loc=d3e5728-111685

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6970148&loc=d3e5710-111685

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6970148&loc=d3e5747-111685

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Variable Interest Entity
-URI http://asc.fasb.org/extlink&oid=6528138

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FAS140-4/FIN46(R)-8
-Paragraph C4
-Subparagraph d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 167
-Appendix D
-Paragraph 22B

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 167
-Appendix D
-Paragraph 22E

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 167
-Appendix D
-Paragraph 23A

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 167
-Appendix D
-Paragraph 24

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 5A
-URI http://asc.fasb.org/extlink&oid=6970148&loc=SL6759159-111685

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=6970148&loc=SL6228884-111685

+ Details

Stock Option and Incentive Plans (Tables)

9 Months Ended

Sep. 30, 2011

Stock Option and Incentive Plans

Summary of the Company's stock option plan activity

				Weighted Average Exercise Price

Unexercised options outstanding—January 1, 2011		5.1		$	62.34
	Options granted	0.5			99.66
	Options exercised	(0.4	)		47.48
	Options forfeited	(0.0	)		110.42

Unexercised options outstanding—September 30, 2011		5.2			67.45	4.7

Exercisable at September 30, 2011		2.3			59.21	3.6

Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2011

Derivative Financial Instruments

Schedule of interest rate swap agreements

In 2010, the Company entered into interest rate swap contracts as summarized in the table below:

	Notional Amount				Receiving	Start Date	Expiration Date

Counterparty A	$	25.0	1.67	%	3-Month LIBOR	October 2010	October 2015
Counterparty A	$	25.0	1.65	%	3-Month LIBOR	October 2010	October 2015
Counterparty B	$	25.0	1.59	%	3-Month LIBOR	October 2010	October 2015
Counterparty B	$	25.0	2.14	%	3-Month LIBOR	October 2010	October 2017

Schedule of location and amount of derivative instrument gains and losses (before taxes)

	Amount of Gain (Loss) Recognized in Other Comprehensive Income						Amount of Gain (Loss) Recognized in Other Comprehensive Income

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2010			2011			2010			2011
Cash Flow Hedges
Interest rate swaps	$	(0.6	)	$	(3.6	)	$	(0.6	)	$	(5.4	)
Treasury rate locks		—			(6.7	)		—			(6.2	)

Total	$	(0.6	)	$	(10.3	)	$	(0.6	)	$	(11.6	)

Schedule of location and fair values of derivative instruments on the Consolidated Balance Sheet

	December 31, 2010		September 30, 2011

Cash Flow Hedges
Interest rate swaps⁽¹⁾	$	2.5	$	(2.9	)
Treasury rate locks⁽²⁾		3.4		(6.7	)

Total	$	5.9	$	(9.6	)

(1): Presented within "Other assets" and "Other long-term liabilities" as of December 31, 2010 and September 30, 2011, respectively.
(2): Presented within "Prepaid expenses and other current assets" and "Accounts payable and accrued liabilities" as of December 31, 2010 and September 30, 2011, respectively.

- Definition

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

+ References + Details

Segment Information (Tables)

9 Months Ended

Sep. 30, 2011

Segment Information

Schedule of segment information

		For the Three Months Ended September 30, 2010

		Mutual Fund			Institutional			High Net Worth			Total
Revenue		$	151.8		$	171.0		$	31.6		$	354.4
Operating expenses:
	Depreciation and other amortization		3.7			18.5			2.0			24.2
	Other operating expenses		106.0			109.0			19.6			234.6

			109.7			127.5			21.6			258.8

Operating income			42.1			43.5			10.0			95.6

Non-operating (income) and expenses:
	Investment and other (income) loss		(5.4	)		(5.2	)		(0.8	)		(11.4	)
	Income from equity method investments		(0.4	)		(8.2	)		(0.9	)		(9.5	)
	Interest expense		8.8			12.7			2.0			23.5

			3.0			(0.7	)		0.3			2.6

Income before income taxes			39.1			44.2			9.7			93.0
Income taxes			11.7			10.4			1.9			24.0

Net income			27.4			33.8			7.8			69.0
	Net income (non-controlling interests)		(13.9	)		(17.0	)		(4.1	)		(35.0	)

Net Income (controlling interest)		$	13.5		$	16.8		$	3.7		$	34.0

		For the Three Months Ended September 30, 2011

		Mutual Fund			Institutional			High Net Worth			Total
Revenue		$	179.0		$	199.6		$	35.2		$	413.8
Operating expenses:
	Depreciation and other amortization		4.2			19.8			2.1			26.1
	Other operating expenses		119.3			120.9			21.5			261.7

			123.5			140.7			23.6			287.8

Operating income			55.5			58.9			11.6			126.0

Non-operating (income) and expenses:
	Investment and other (income) loss		5.5			2.6			1.4			9.5
	Income from equity method investments		(2.0	)		(6.6	)		(1.2	)		(9.8	)
	Interest expense		10.8			13.4			2.2			26.4

			14.3			9.4			2.4			26.1

Income before income taxes			41.2			49.5			9.2			99.9
Income taxes			8.1			9.5			2.2			19.8

Net income			33.1			40.0			7.0			80.1
	Net income (non-controlling interests)		(14.7	)		(22.3	)		(3.0	)		(40.0	)

Net Income (controlling interest)		$	18.4		$	17.7		$	4.0		$	40.1

		For the Nine Months Ended September 30, 2010

		Mutual Fund			Institutional			High Net Worth			Total
Revenue		$	397.7		$	445.1		$	94.7		$	937.5
Operating expenses:
	Depreciation and other amortization		8.5			34.3			6.4			49.2
	Other operating expenses		275.4			291.7			61.2			628.3

			283.9			326.0			67.6			677.5

Operating income			113.8			119.1			27.1			260.0

Non-operating (income) and expenses:
	Investment and other (income) loss		(4.8	)		(7.7	)		(2.4	)		(14.9	)
	Income from equity method investments		(1.2	)		(24.6	)		(2.7	)		(28.5	)
	Investment loss from Affiliate investments in partnerships		0.1			0.2			4.2			4.5
	Interest expense		24.0			35.1			6.9			66.0

			18.1			3.0			6.0			27.1

Income before income taxes			95.7			116.1			21.1			232.9
Income taxes			24.8			23.3			4.8			52.9

Net income			70.9			92.8			16.3			180.0
	Net income (non-controlling interests)		(39.7	)		(56.2	)		(11.9	)		(107.8	)
	Net loss (non-controlling interests in partnerships)		0.1			0.2			4.1			4.4

Net Income (controlling interest)		$	31.3		$	36.8		$	8.5		$	76.6

		For the Nine Months Ended September 30, 2011

		Mutual Fund			Institutional			High Net Worth			Total
Revenue		$	555.7		$	640.6		$	106.1		$	1,302.4
Operating expenses:
	Depreciation and other amortization		12.3			59.3			6.3			77.9
	Other operating expenses		375.7			392.0			65.9			833.6

			388.0			451.3			72.2			911.5

Operating income			167.7			189.3			33.9			390.9

Non-operating (income) and expenses:
	Investment and other (income) loss		2.0			(6.9	)		11.7			6.8
	Income from equity method investments		(2.5	)		(34.2	)		(3.4	)		(40.1	)
	Interest expense		31.6			42.3			6.6			80.5

			31.1			1.2			14.9			47.2

Income before income taxes			136.6			188.1			19.0			343.7
Income taxes			30.8			39.8			2.6			73.2

Net income			105.8			148.3			16.4			270.5
	Net income (non-controlling interests)		(52.0	)		(82.0	)		(11.9	)		(145.9	)

Net Income (controlling interest)		$	53.8		$	66.3		$	4.5		$	124.6

Balance Sheet Information
Total assets as of December 31, 2010		$	1,847.9		$	3,009.3		$	434.0		$	5,291.2
Total assets as of September 30, 2011		$	1,932.3		$	2,778.4		$	421.1		$	5,131.8

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References + Details

Goodwill and Acquired Client Relationships (Tables)

9 Months Ended

Sep. 30, 2011

Goodwill and Acquired Client Relationships

Schedule of changes in goodwill

	Mutual Fund			Institutional			High Net Worth			Total

Balance, as of December 31, 2010	$	785.9		$	1,083.7		$	261.6		$	2,131.2
Purchase price adjustments		1.2			(5.7	)		—			(4.5	)
Goodwill acquired		—			0.1			1.3			1.4
Foreign currency translation		(1.9	)		(5.7	)		(4.4	)		(12.0	)

Balance, as of September 30, 2011	$	785.2		$	1,072.4		$	258.5		$	2,116.1

Schedule of components of intangible assets

		December 31, 2010				September 30, 2011

		Carrying Amount		Accumulated Amortization		Carrying Amount		Accumulated Amortization
Amortized intangible assets:
	Acquired client relationships	$	974.8	$	228.6	$	969.5	$	294.9
Non-amortized intangible assets:
Acquired client relationships-mutual fund management contracts			678.0		—		677.5		—
	Goodwill		2,131.2		—		2,116.1		—

Schedule of annual amortization expense attributable to current equity method Affiliates for next five years

Year Ending December 31,	Estimated Amortization Expense

2011	$	32.9
2012		32.8
2013		32.8
2014		11.3
2015		4.1

- Definition

Tabular disclosure of goodwill by reportable segment and in total. Disclosure details may include, but are not limited to, the carrying amount of goodwill, goodwill acquired during the year, goodwill impairment losses recognized, goodwill written-off due to the sale of a business unit, goodwill not yet allocated, and any other changes to goodwill.

+ References + Details

Affiliate Equity (Tables)

9 Months Ended

Sep. 30, 2011

Affiliate Equity

Schedule of the changes in redeemable non-controlling interests


Balance as of January 1, 2011	$	406.3
Issuance of Redeemable non-controlling interest		51.7
Repurchase of Redeemable non-controlling interest		(20.9	)
Changes in redemption value		18.4

Balance as of September 30, 2011	$	455.5

Schedule of the effect of changes in the entity's ownership interest in its affiliates on the controlling interest's equity

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,

	2010			2011			2010			2011
Net Income (controlling interest)	$	34.0		$	40.1		$	76.6		$	124.6
Increase (decrease) in controlling interest paid-in capital from purchases and sales of Affiliate equity		(12.8	)		(5.1	)		(32.5	)		(4.6	)

Change from Net Income (controlling interest) and net transfers with non-controlling interests	$	21.2		$	35.0		$	44.1		$	120.0

- Definition

Tabular disclosure of redeemable noncontrolling interest (as defined) included in the statement of financial position as either a liability or temporary equity. As of the date of the statement of financial position, such redeemable noncontrolling interest is currently redeemable, as defined, for cash or other assets of the entity at (1) at a fixed or determinable price on a fixed or determinable date, (2) at the option of the holder of the noncontrolling interest, or (3) upon occurrence of an event that is not solely within the control of the entity.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number D-98
-Paragraph 40
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number D-98
-Paragraph 41
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number D-98
-Paragraph 42
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number D-98
-Paragraph 43
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number D-98
-Paragraph 44
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 25
-Appendix A

+ Details

Comprehensive Income (Tables)

9 Months Ended

Sep. 30, 2011

Comprehensive Income

Summary of comprehensive income, net of applicable taxes

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,

	2010			2011			2010			2011
Net income	$	69.0		$	80.1		$	180.0		$	270.5
Foreign currency translation adjustment		20.0			(34.6	)		15.2			(17.7	)
Change in net realized and unrealized loss on derivative securities		—			(6.3	)		—			(7.1	)
Change in net unrealized gain (loss) on investment securities		3.8			(40.5	)		9.8			(46.7	)

Comprehensive income (loss)		92.8			(1.3	)		205.0			199.0
Comprehensive income (non-controlling interests)		(35.0	)		(40.0	)		(103.4	)		(145.9	)

Comprehensive income (loss) (controlling interest)	$	57.8		$	(41.3	)	$	101.6		$	53.1

Schedule of components of accumulated other comprehensive income, net of applicable taxes

	December 31, 2010		September 30, 2011

Foreign currency translation adjustments	$	67.9	$	50.2
Realized and unrealized gains (losses) on derivative securities		3.7		(3.4	)
Unrealized gain (loss) on investment securities		28.9		(17.8	)

Accumulated other comprehensive income	$	100.5	$	29.0

Senior Bank Debt (Details) $ in Millions	Sep. 30, 2011 USD ($)
Senior Bank Debt
Maximum borrowing capacity under revolving credit facility	$ 750.0
Option to increase the borrowing capacity under revolving credit facility	150.0
Line of credit facility amount outstanding	$ 210.0

Convertible Securities (Details)	9 Months Ended
Convertible Securities (Details)	Sep. 30, 2011 USD ($) rate Y $ / shares	Dec. 31, 2010 USD ($)
Convertible Securities
Carrying Value	$ 432,200,000	$ 422,100,000
Carrying Value	511,900,000	509,900,000
Principal amount at maturity	730,800,000	730,800,000
2008 senior convertible notes
Convertible Securities
Carrying Value	432,200,000	422,100,000
Principal amount at maturity	$ 460,000,000	460,000,000
Term of debt (in years) \| Y	5
Principal terms of Convertible Debt Securities
Denomination	$ 1,000
Current Conversion Rate \| rate	7.959
Current Conversion Price (in dollars per share) \| $ / shares	$ 125.65
Stated Coupon (as a percent)	3.95%
Tax Deduction Rate (as a percent)	9.38%
Deferred tax liabilities	$ 22,500,000
2007 junior convertible trust preferred securities
Convertible Securities
Carrying Value	297,400,000	296,300,000
Principal amount at maturity	$ 430,800,000	430,800,000
Term of debt (in years) \| Y	30
Principal terms of Convertible Debt Securities
Denomination	$ 50
Current Conversion Rate \| rate	0.250
Current Conversion Price (in dollars per share) \| $ / shares	$ 200.00
Stated Coupon (as a percent)	5.15%
Tax Deduction Rate (as a percent)	8.00%
Minimum stock price for convertible notes to be redeemed (in dollars per share) \| $ / shares	$ 260
Deferred tax liabilities	$ 22,500,000
2006 junior convertible trust preferred securities
Convertible Securities
Carrying Value	214,500,000	213,600,000
Principal amount at maturity	$ 300,000,000	$ 300,000,000
Term of debt (in years) \| Y	30
Principal terms of Convertible Debt Securities
Denomination	$ 50
Current Conversion Rate \| rate	0.333
Current Conversion Price (in dollars per share) \| $ / shares	$ 150.00
Stated Coupon (as a percent)	5.10%
Tax Deduction Rate (as a percent)	7.50%
Minimum stock price for convertible notes to be redeemed (in dollars per share) \| $ / shares	$ 195
Deferred tax liabilities	$ 22,500,000

Forward Equity Sale Agreements (Details) $ in Millions	1 Months Ended
Forward Equity Sale Agreements (Details) $ in Millions	Jul. 31, 2011 USD ($) agreement
Forward Equity Sale Agreements
Number of agreements under the forward equity sale agreements \| agreement	2
Value of common stock to sell under each agreement, maximum \| $	$ 300

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2011	Sep. 30, 2010
Income tax provision
Current Tax	$ 5.0	$ 17.4	$ 41.4	$ 28.6
Deferred Taxes	14.8	6.6	31.8	24.3
Provision for income taxes	19.8	24.0	73.2	52.9
Controlling Interest:
Income tax provision
Current Tax	1.9	7.9	31.9	15.8
Intangible related deferred taxes	10.4	9.8	36.2	34.9
Other Deferred Taxes	6.2	(1.4)	(1.6)	(8.4)
Provision for income taxes	18.5	16.3	66.5	42.3
Income before income taxes (controlling interest)	$ 58.6	$ 50.3	$ 191.1	$ 118.9
Effective Tax rate attributable to controlling interests (as a percent)	31.60%	32.40%	34.80%	35.60%
Non-controlling interests
Income tax provision
Current Tax	$ 3.1	$ 9.5	$ 9.5	$ 12.8
Deferred Taxes	(1.8)	(1.8)	(2.8)	(2.2)
Provision for income taxes	$ 1.3	$ 7.7	$ 6.7	$ 10.6

Income Taxes (Details 2) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Income Taxes (Details 2) - USD ($) $ in Millions	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2011	Sep. 30, 2010
Income Tax [Line Items]
Deferred tax benefit recognized from a reduction of corporate tax rates in the United Kingdom	$ (3.9)
Current:
Federal	(7.6)	$ 0.2	$ 5.6
State	1.6	1.9	6.5	$ 5.3
Foreign	11.0	15.3	29.3	23.3
Total Current	5.0	17.4	41.4	28.6
Deferred:
Federal	17.9	12.9	38.4	29.3
State	0.5	(0.1)	1.7	2.8
Foreign	(3.6)	(6.2)	(8.3)	(7.8)
Total Deferred	14.8	6.6	31.8	24.3
Provision for income taxes	19.8	24.0	73.2	52.9
Controlling Interest:
Income Tax [Line Items]
Deferred tax benefit recognized from a reduction of corporate tax rates in the United Kingdom	(2.6)
Current:
Total Current	1.9	7.9	31.9	15.8
Deferred:
Provision for income taxes	$ 18.5	$ 16.3	$ 66.5	$ 42.3

Income Taxes (Details 3) $ in Millions	Sep. 30, 2011 USD ($) Y	Dec. 31, 2010 USD ($)
Deferred Tax Assets
State net operating loss carryforwards	$ 27.9	$ 30.6
Foreign tax credit carryforwards	20.6	17.3
Deferred compensation	15.3	10.3
Tax benefit of uncertain tax positions	11.5	10.8
Accrued expenses	11.6	8.5
Unrealized losses	8.4
Capital loss carryforwards	1.5	1.5
Total deferred tax assets	96.8	79.0
Valuation allowance	(36.3)	(38.4)
Deferred tax assets, net of valuation allowance	60.5	40.6
Deferred Tax Liabilities
Intangible asset amortization	(241.4)	(209.3)
Convertible securities interest	(166.8)	(154.5)
Non-deductible intangible amortization	(135.2)	(143.1)
Deferred revenue	(3.9)	(26.3)
Other	(2.7)	(2.8)
Total deferred tax liabilities	(550.0)	(536.0)
Net deferred tax liability	$ (489.5)	$ (495.4)
State net operating loss carryforwards, expiration period (in years) \| Y	15
Foreign tax credit carryforwards, expiration period (in years) \| Y	10
Liability for uncertain tax positions including interest and related charges	$ 21.9
Liability for uncertain tax position that would generate tax benefits if settled	11.5
Accrued income tax interest and related charges	2.1
Increase in liability due to as a result of tax examinations, settlements and expiration of statutes of limitations in the next 12 months	$ 2.5

Earnings Per Share (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2011	Sep. 30, 2010
Numerator:
Net Income (controlling interest)	$ 40.1	$ 34.0	$ 124.6	$ 76.6
Interest expense on convertible securities, net of taxes				0.1
Net Income (controlling interest), as adjusted	$ 40.1	$ 34.0	$ 124.6	$ 76.7
Denominator:
Average shares outstanding - basic (in shares)	51.9	51.2	51.9	46.1
Effect of dilutive instruments:
Stock options (in shares)	1.1	0.7	1.3	0.8
Forward sale (in shares)		0.0		1.3
Senior convertible securities (in shares)				0.5
Average shares outstanding - diluted (in shares)	53.0	51.9	53.2	48.7
Common stock shares repurchased (in shares)	0.6		0.6
Stock options
Anti-dilutive securities
Anti-dilutive potential exercise of options excluded from computation of diluted earnings per share (in shares)	1.2	1.8	1.2	1.8
2008 senior convertible notes
Anti-dilutive securities
Anti-dilutive potential exercise of options excluded from computation of diluted earnings per share (in shares)	3.7	3.7	3.7	3.7
Junior convertible trust preferred securities
Anti-dilutive securities
Anti-dilutive potential exercise of options excluded from computation of diluted earnings per share (in shares)	4.2	4.2	4.2	4.2

Commitments and Contingencies (Details) $ in Millions	Sep. 30, 2011 USD ($)
Commitments and Contingencies
Acquisition agreements contingency liability	$ 491.8
Expected payments to settle portions of contingent obligations	2.8
Pantheon
Commitments and Contingencies
Co-investment commitments in partnership	84.1
Russell
Commitments and Contingencies
Reimbursable amount of investment commitments	$ 54.1

Investments in Marketable Securities (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2011	Dec. 31, 2010
Cost of investments in marketable securities, gross unrealized gains and losses
Cost of investments in marketable securities	$ 108.2	$ 68.9
Gross unrealized gains	1.5	47.1
Gross unrealized losses	(29.4)	0.0
Total investment	80.3	$ 116.0
Value Partners Group Limited ("Value Partners")
Cost of investments in marketable securities, gross unrealized gains and losses
Gross unrealized losses	(25.8)
Total investment	$ 79.6
Outstanding common stock (as a percent)	7.80%

Cost Method Investments (Details) - USD ($) $ in Millions	9 Months Ended
Cost Method Investments (Details) - USD ($) $ in Millions	Sep. 30, 2011	Dec. 31, 2010
Cost Method Investments
Maximum percentage of ownership interest (as a percent)	20.00%
Value of cost method investments	$ 14.6	$ 27.4
Write-off of cost method investments	$ 12.8

- Definition

This item represents the aggregate carrying amount of all cost-method investments as reported on or included in the balance sheet. The original cost of the investments may differ from the aggregate carrying amount disclosed due to various adjustments such as: (i) dividends received in excess of earnings after the date of investment that are considered a return of investment and therefore recorded as reductions to cost of the investment, or (ii) a series of operating losses of an investee or other factors which may indicate that a decrease in value of the investment has occurred which is other than temporary and accordingly such decrease in value has been recognized.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 18
-Paragraph 6
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 03-1
-Paragraph 22
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FAS115-1/124-1
-Paragraph 18
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.12)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 325
-SubTopic 20
-Section 35
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6383889&loc=d3e40346-111594

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 325
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6872867&loc=d3e40691-111596

+ Details

Fair Value Measurements (Details) - Fair value measured on a recurring basis - USD ($) $ in Millions	Sep. 30, 2011	Dec. 31, 2010
Fair value
Financial Assets
Cash and equivalents	$ 23.1	$ 36.0
Partnership investments	160.3	124.5
Trading securities	14.1	15.4
Available for sale securities	66.2	100.6
Interest rate derivatives		5.9
Financial Liabilities
Contingent payment obligations	93.7	84.0
Obligations to related parties	71.6	79.6
Interest rate derivatives	9.6
Level 1
Financial Assets
Cash and equivalents	23.1	36.0
Partnership investments	29.6	16.9
Trading securities	14.1	15.2
Available for sale securities	66.2	99.2
Level 2
Financial Assets
Partnership investments	23.4	21.8
Trading securities		0.2
Available for sale securities		1.4
Interest rate derivatives		5.9
Financial Liabilities
Interest rate derivatives	9.6
Level 3
Financial Assets
Partnership investments	107.3	85.8
Financial Liabilities
Contingent payment obligations	93.7	84.0
Obligations to related parties	$ 71.6	$ 79.6

Fair Value Measurements (Details 2) - USD ($)	3 Months Ended		9 Months Ended
Fair Value Measurements (Details 2) - USD ($)	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2011	Sep. 30, 2010
Partnership investments
Changes in level 3 assets and liabilities
Balance at the beginning of the period	$ 102,000,000	$ 68,400,000	$ 85,800,000	$ 4,000,000
Net realized gains (losses)	(300,000)	2,200,000	700,000	2,200,000
Net unrealized gains/losses relating to instruments still held at the reporting date	3,500,000		14,000,000
Purchases and issuances	4,200,000	5,800,000	12,800,000	73,900,000
Settlements and reductions	(2,100,000)	(1,300,000)	(6,000,000)	(1,300,000)
Net transfers in and/or out of Level 3				(3,700,000)
Balance at the end of period	107,300,000	75,100,000	107,300,000	75,100,000
Contingent payment obligations
Changes in level 3 assets and liabilities
Balance at the beginning of the period	91,700,000	66,200,000	84,000,000	27,100,000
Net unrealized gains/losses relating to instruments still held at the reporting date	2,000,000	6,600,000	11,400,000	8,400,000
Purchases and issuances				64,400,000
Settlements and reductions			(1,700,000)	(27,100,000)
Balance at the end of period	93,700,000	72,800,000	93,700,000	72,800,000
Obligations to related parties
Changes in level 3 assets and liabilities
Balance at the beginning of the period	71,200,000	51,300,000	79,600,000	78,700,000
Net realized gains (losses)	800,000	(800,000)	1,400,000	(1,000,000)
Net unrealized gains/losses relating to instruments still held at the reporting date	(400,000)	1,900,000	3,200,000	1,900,000
Purchases and issuances	8,500,000	25,600,000	21,500,000	76,800,000
Settlements and reductions	(8,500,000)	(5,800,000)	(34,100,000)	(84,200,000)
Balance at the end of period	$ 71,600,000	$ 72,200,000	$ 71,600,000	$ 72,200,000

Fair Value Measurements (Details 3) $ in Millions	Sep. 30, 2011 USD ($) Y	Dec. 31, 2010 USD ($) Y
NAV of investments at fair value
Fair Value	$ 162.7	$ 140.9
Unfunded Commitments	84.1	89.2
Fair market value of 2008 senior convertible notes	485.0
Fair market value of junior convertible trust preferred securities	568.6
Private equity fund-of-funds
NAV of investments at fair value
Fair Value	107.3	85.7
Unfunded Commitments	$ 84.1	$ 89.2
Liquidation of underlying assets over the life of the funds (in years) \| Y	15	15
Other funds
NAV of investments at fair value
Fair Value	$ 55.4	$ 55.2

Variable Interest Entities (Details) - USD ($) $ in Millions	Sep. 30, 2011	Dec. 31, 2010
Sponsored investment funds
Variable Interest Entities
Unconsolidated VIE Net Assets	$ 3,151.9	$ 3,350.7
Carrying Value and Maximum Exposure to Loss	1.0	0.9
Trust preferred vehicles
Variable Interest Entities
Unconsolidated VIE Net Assets	9.0	9.0
Carrying Value and Maximum Exposure to Loss	$ 9.0	$ 9.0

Related Party Transactions (Details) - USD ($) $ in Millions	Sep. 30, 2011	Dec. 31, 2010
Related Party Transactions
Payable to related parties, current	$ 12.9	$ 114.8
Affiliate partners
Related Party Transactions
Receivables from related parties	48.6	42.9
Receivable from related parties, included in Prepaid and other current assets	3.1
Receivable from related parties, included in Other Assets	45.5
Payable to related parties, current	12.9	114.8
Payable to related parties, included in other long-term liabilities	59.6	68.2
Payable to related parties	$ 72.5	$ 183.0

- Definition

For an unclassified balance sheet, amounts due from related parties including affiliates, employees, joint ventures, officers and stockholders, immediate families thereof, and pension funds.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 4
-Section 08
-Paragraph k
-Subparagraph 1

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 57
-Paragraph 2
-Subparagraph d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 7
-Section 03
-Paragraph 3

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 46R
-Paragraph 16, 17
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(k)(1))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03.3)
-URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03.10(3))
-URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878

+ Details

- Definition

The aggregate amount of receivables to be collected from related parties where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth, at the financial statement date. which are usually due within one year (or one business cycle).

+ References + Details

- Definition

Aggregate amount of receivables to be collected from related parties where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth, at the financial statement date. which are usually due after one year (or one business cycle).

+ References + Details

- Definition

Carrying amount as of the balance sheet date of obligations due all related parties. For classified balance sheets, represents the current portion of such liabilities (due within one year or within the normal operating cycle if longer).

+ References + Details

- Definition

Carrying amount as of the balance sheet date of obligations due all related parties.

+ References + Details

Stock Option and Incentive Plans (Details) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2011 USD ($) Y $ / shares shares	Sep. 30, 2011 USD ($) Y $ / shares shares
Stock options Outstanding, number
Unexercised options outstanding at the beginning of the period (in shares) \| shares		5.1
Options granted (in shares) \| shares		0.5
Options exercised (in shares) \| shares		(0.4)
Options forfeited (in shares) \| shares		0.0
Unexercised options outstanding at the end of the period (in shares) \| shares	5.2	5.2
Exercisable at the end of the period (in shares) \| shares	2.3	2.3
Stock options, Weighted Average Exercise Price
Unexercised options outstanding at the beginning of the period (in dollars per share) \| $ / shares		$ 62.34
Options granted (in dollars per share) \| $ / shares	$ 99.66	99.66
Options exercised (in dollars per share) \| $ / shares	47.48	47.48
Options forfeited (in dollars per share) \| $ / shares	110.42	110.42
Unexercised options outstanding at the end of the period (in dollars per share) \| $ / shares	67.45	67.45
Exercisable at the end of the period (in dollars per share) \| $ / shares	$ 59.21	$ 59.21
Stock options, Weighted Average Remaining Contractual Life (years)
Unexercised options outstanding at the end of the period (in years) \| Y	4.7	4.7
Exercisable at the end of the period (in years) \| Y		3.6
Share-based compensation expense
Share-based compensation expense, net of income tax benefits \| $	$ 4.5	$ 11.9
Income tax benefits on share-based compensation arrangements \| $	2.8	7.4
Share-based compensation not recognized as of the balance sheet date \| $	$ 73.2	$ 73.2
Share-based compensation not recognized as of the balance sheet date, expected recognition period (in years) \| Y		3

Derivative Financial Instruments (Details) - USD ($) $ in Millions	1 Months Ended		3 Months Ended	12 Months Ended
	Oct. 31, 2011	Feb. 28, 2011	Sep. 30, 2011	Dec. 31, 2010	Nov. 30, 2010
Interest rate swaps
Derivative financial instruments
Fair value of collateral posted			$ 7.3
Interest rate swaps \| Counterparty A paying 1.67% interest
Derivative financial instruments
Notional amount				$ 25.0
Reference rate				3-Month LIBOR
Interest rate swaps \| Counterparty A paying 1.65% interest
Derivative financial instruments
Notional amount				$ 25.0
Reference rate				3-Month LIBOR
Interest rate swaps \| Counterparty B paying 1.59% interest
Derivative financial instruments
Notional amount				$ 25.0
Reference rate				3-Month LIBOR
Interest rate swaps \| Counterparty B paying 2.14% interest
Derivative financial instruments
Notional amount				$ 25.0
Reference rate				3-Month LIBOR
Treasury rate locks
Derivative financial instruments
Notional amount			75.0		$ 100.0
Fair value of collateral posted			7.3
Unrealized gain (before taxes) on the derivative instruments	$ (4.7)	$ 4.0
Treasury rate locks \| Counterparty A paying 1.67% interest
Derivative financial instruments
Amount of gain (loss) recognized in other comprehensive income			$ 0.7

Derivative Financial Instruments (Details 2) - Cash Flow Hedges - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2011	Sep. 30, 2010
Summary of the location and amount of derivative instrument gains and losses (before taxes) reported in the Consolidated Statements of Income
Amount of Gain (Loss) Recognized in Other Comprehensive Income	$ (10.3)	$ (0.6)	$ (11.6)	$ (0.6)
Interest rate swaps
Summary of the location and amount of derivative instrument gains and losses (before taxes) reported in the Consolidated Statements of Income
Amount of Gain (Loss) Recognized in Other Comprehensive Income	(3.6)	$ (0.6)	(5.4)	$ (0.6)
Treasury rate locks
Summary of the location and amount of derivative instrument gains and losses (before taxes) reported in the Consolidated Statements of Income
Amount of Gain (Loss) Recognized in Other Comprehensive Income	$ (6.7)		$ (6.2)

Derivative Financial Instruments (Details 3) - USD ($) $ in Millions	Sep. 30, 2011	Dec. 31, 2010
Fair values of derivative instruments
Cash Flow Hedges,Fair value of Other long-term liabilities	$ (9.6)	$ 5.9
Interest rate swaps
Fair values of derivative instruments
Cash Flow Hedges,Fair value of Other long-term liabilities	(2.9)	2.5
Treasury rate locks
Fair values of derivative instruments
Cash Flow Hedges,Fair value of Other long-term liabilities	$ (6.7)	$ 3.4

Segment Information (Details) $ in Millions	3 Months Ended		9 Months Ended
Segment Information (Details) $ in Millions	Sep. 30, 2011 USD ($)	Sep. 30, 2010 USD ($)	Sep. 30, 2011 USD ($) segment DistributionChannel	Sep. 30, 2010 USD ($)	Dec. 31, 2010 USD ($)
Segment Information
Number of operating segments \| segment			3
Number of principal distribution channels \| DistributionChannel			3
Statements of Income
Revenue	$ 413.8	$ 354.4	$ 1,302.4	$ 937.5
Operating expenses:
Depreciation and other amortization	26.1	24.2	77.9	49.2
Other operating expenses	261.7	234.6	833.6	628.3
Total operating expenses	287.8	258.8	911.5	677.5
Operating income	126.0	95.6	390.9	260.0
Non-operating (income) and expenses:
Investment and other (income) loss	9.5	(11.4)	6.8	(14.9)
Income from equity method investments	(9.8)	(9.5)	(40.1)	(28.5)
Investment loss from Affiliate investments in partnerships				4.5
Interest expense	26.4	23.5	80.5	66.0
Total non-operating (income) and expenses	26.1	2.6	47.2	27.1
Income before income taxes	99.9	93.0	343.7	232.9
Income taxes	19.8	24.0	73.2	52.9
Net income	80.1	69.0	270.5	180.0
Net income (non-controlling interests)	(40.0)	(35.0)	(145.9)	(107.8)
Net loss (non-controlling interests in partnerships)				4.4
Net Income (controlling interest)	40.1	34.0	124.6	76.6
Balance Sheet Information
Assets	5,131.8		5,131.8		$ 5,291.2
Mutual Fund
Statements of Income
Revenue	179.0	151.8	555.7	397.7
Operating expenses:
Depreciation and other amortization	4.2	3.7	12.3	8.5
Other operating expenses	119.3	106.0	375.7	275.4
Total operating expenses	123.5	109.7	388.0	283.9
Operating income	55.5	42.1	167.7	113.8
Non-operating (income) and expenses:
Investment and other (income) loss	5.5	(5.4)	2.0	(4.8)
Income from equity method investments	(2.0)	(0.4)	(2.5)	(1.2)
Investment loss from Affiliate investments in partnerships				0.1
Interest expense	10.8	8.8	31.6	24.0
Total non-operating (income) and expenses	14.3	3.0	31.1	18.1
Income before income taxes	41.2	39.1	136.6	95.7
Income taxes	8.1	11.7	30.8	24.8
Net income	33.1	27.4	105.8	70.9
Net income (non-controlling interests)	(14.7)	(13.9)	(52.0)	(39.7)
Net loss (non-controlling interests in partnerships)				0.1
Net Income (controlling interest)	18.4	13.5	53.8	31.3
Balance Sheet Information
Assets	1,932.3		1,932.3		1,847.9
Institutional
Statements of Income
Revenue	199.6	171.0	640.6	445.1
Operating expenses:
Depreciation and other amortization	19.8	18.5	59.3	34.3
Other operating expenses	120.9	109.0	392.0	291.7
Total operating expenses	140.7	127.5	451.3	326.0
Operating income	58.9	43.5	189.3	119.1
Non-operating (income) and expenses:
Investment and other (income) loss	2.6	(5.2)	(6.9)	(7.7)
Income from equity method investments	(6.6)	(8.2)	(34.2)	(24.6)
Investment loss from Affiliate investments in partnerships				0.2
Interest expense	13.4	12.7	42.3	35.1
Total non-operating (income) and expenses	9.4	(0.7)	1.2	3.0
Income before income taxes	49.5	44.2	188.1	116.1
Income taxes	9.5	10.4	39.8	23.3
Net income	40.0	33.8	148.3	92.8
Net income (non-controlling interests)	(22.3)	(17.0)	(82.0)	(56.2)
Net loss (non-controlling interests in partnerships)				0.2
Net Income (controlling interest)	17.7	16.8	66.3	36.8
Balance Sheet Information
Assets	2,778.4		2,778.4		3,009.3
High Net Worth
Statements of Income
Revenue	35.2	31.6	106.1	94.7
Operating expenses:
Depreciation and other amortization	2.1	2.0	6.3	6.4
Other operating expenses	21.5	19.6	65.9	61.2
Total operating expenses	23.6	21.6	72.2	67.6
Operating income	11.6	10.0	33.9	27.1
Non-operating (income) and expenses:
Investment and other (income) loss	1.4	(0.8)	11.7	(2.4)
Income from equity method investments	(1.2)	(0.9)	(3.4)	(2.7)
Investment loss from Affiliate investments in partnerships				4.2
Interest expense	2.2	2.0	6.6	6.9
Total non-operating (income) and expenses	2.4	0.3	14.9	6.0
Income before income taxes	9.2	9.7	19.0	21.1
Income taxes	2.2	1.9	2.6	4.8
Net income	7.0	7.8	16.4	16.3
Net income (non-controlling interests)	(3.0)	(4.1)	(11.9)	(11.9)
Net loss (non-controlling interests in partnerships)				4.1
Net Income (controlling interest)	4.0	$ 3.7	4.5	$ 8.5
Balance Sheet Information
Assets	$ 421.1		$ 421.1		$ 434.0

Goodwill and Acquired Client Relationships (Details) $ in Millions	9 Months Ended
	Sep. 30, 2011 USD ($)
Changes in goodwill
Balance at the beginning of the period	$ 2,131.2
Purchase price adjustments	(4.5)
Goodwill acquired	1.4
Foreign currency translation	(12.0)
Balance at the end of the period	2,116.1
Mutual Fund
Changes in goodwill
Balance at the beginning of the period	785.9
Purchase price adjustments	1.2
Foreign currency translation	(1.9)
Balance at the end of the period	785.2
Institutional
Changes in goodwill
Balance at the beginning of the period	1,083.7
Purchase price adjustments	(5.7)
Goodwill acquired	0.1
Foreign currency translation	(5.7)
Balance at the end of the period	1,072.4
High Net Worth
Changes in goodwill
Balance at the beginning of the period	261.6
Goodwill acquired	1.3
Foreign currency translation	(4.4)
Balance at the end of the period	$ 258.5

- Definition

Carrying amount as of the balance sheet date, which is the cumulative amount paid and (if applicable) the fair value of any noncontrolling interest in the acquiree, adjusted for any amortization recognized prior to the adoption of any changes in generally accepted accounting principles (as applicable) and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 142
-Paragraph 45
-Subparagraph e
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 142
-Paragraph 43
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 68
-Subparagraph l
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6388280&loc=d3e13770-109266

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6905597&loc=d3e13816-109267

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 72
-Subparagraph d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 142
-Paragraph 45
-Subparagraph e
-Clause 1
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 34
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Goodwill and Acquired Client Relationships (Details 2) $ in Millions	9 Months Ended
	Sep. 30, 2011 USD ($) Y	Dec. 31, 2010 USD ($)
Non-amortized intangible assets:
Goodwill	$ 2,116.1	$ 2,131.2
Annual amortization expense attributable to current equity method Affiliates for next five years
2011	32.9
2012	32.8
2013	32.8
2014	11.3
2015	4.1
Acquired client relationships-mutual fund management contracts
Non-amortized intangible assets:
Indefinite lived Intangible assets, Carrying Amount	677.5	678.0
Acquired client relationships
Amortized intangible assets:
Intangible assets, Carrying Amount	969.5	974.8
Intangible assets, Accumulated Amortization	$ 294.9	$ 228.6
Amortization expenses
Weighted average life (in years) \| Y	10
Annual amortization expense for the next five years	$ 88.5
Number of annual periods of expected amortization expense (in years) \| Y	5
Acquired client relationships under equity method investments
Amortization expenses
Weighted average life (in years) \| Y	7
Number of annual periods of expected amortization expense (in years) \| Y	5
Amortization expense during the period	$ 24.8

Affiliate Equity (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Affiliate Equity (Details) - USD ($) $ in Millions	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2011	Sep. 30, 2010
Changes in redeemable non-controlling interests during the period
Balance at the beginning of the period			$ 406.3
Issuance of Redeemable non-controlling interest			51.7
Repurchase of Redeemable non-controlling interest			(20.9)
Changes in redemption value			18.4
Balance at the end of the period	$ 455.5		455.5
Effect of changes in the Company's ownership interest in its Affiliates on the controlling interest's equity
Net Income (controlling interest)	40.1	$ 34.0	124.6	$ 76.6
Increase (decrease) in controlling interest paid-in capital from purchases and sales of Affiliate equity	(5.1)	(12.8)	(4.6)	(32.5)
Change from Net Income (controlling interest) and net transfers with non-controlling interests	$ 35.0	$ 21.2	$ 120.0	$ 44.1

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 87-21
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 10, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 28, 29, 30
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 5
-Section 03
-Paragraph 19

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 20
-Article 9

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Net Income
-URI http://asc.fasb.org/extlink&oid=6518256

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Other Comprehensive Income
-URI http://asc.fasb.org/extlink&oid=6519514

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.18)
-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.19)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e565-108580

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.22)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph A7
-Appendix A

+ Details

- Definition

As of the reporting date, the aggregate carrying amount of all noncontrolling interests which are redeemable by the (parent) entity (1) at a fixed or determinable price on a fixed or determinable date, (2) at the option of the holder of the noncontrolling interest, or (3) upon occurrence of an event that is not solely within the control of the (parent) entity. This item includes noncontrolling interest holder's ownership (or holders' ownership) regardless of the type of equity interest (common, preferred, other) including all potential organizational (legal) forms of the investee entity.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number D-98
-Paragraph 43
-Subparagraph b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number D-98
-Paragraph 43
-Subparagraph c
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 27
-Appendix A
-Subparagraph c

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 480
-SubTopic 10
-Subparagraph (12)(c)
-Section S99
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=6802392&loc=SL6540498-122764

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 480
-SubTopic 10
-Subparagraph 14
-Paragraph 3A
-Section S99
-URI http://asc.fasb.org/extlink&oid=6802392&loc=SL6540498-122764

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 480
-SubTopic 10
-Subparagraph 15
-Paragraph 3A
-Section S99
-URI http://asc.fasb.org/extlink&oid=6802392&loc=SL6540498-122764

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 480
-SubTopic 10
-Subparagraph (16)(c)
-Paragraph 3A
-Section S99
-URI http://asc.fasb.org/extlink&oid=6802392&loc=SL6540498-122764

+ Details

Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Comprehensive Income (Details) - USD ($) $ in Millions	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2011	Sep. 30, 2010	Dec. 31, 2010
Comprehensive income, net of applicable taxes
Net income	$ 80.1	$ 69.0	$ 270.5	$ 180.0
Foreign currency translation adjustment	(34.6)	20.0	(17.7)	15.2
Change in net realized and unrealized loss on derivative securities	(6.3)		(7.1)
Change in net unrealized gain (loss) on investment securities	(40.5)	3.8	(46.7)	9.8
Comprehensive income (loss)	(1.3)	92.8	199.0	205.0
Comprehensive income (non-controlling interests)	(40.0)	(35.0)	(145.9)	(103.4)
Comprehensive income (loss) (controlling interest)	(41.3)	$ 57.8	53.1	$ 101.6
Accumulated other comprehensive income, net of applicable taxes
Foreign currency translation adjustments	50.2		50.2		$ 67.9
Realized and unrealized gains (losses) on derivative securities	(3.4)		(3.4)		3.7
Unrealized gain (loss) on investment securities	(17.8)		(17.8)		28.9
Accumulated other comprehensive income	$ 29.0		$ 29.0		$ 100.5

Subsequent Event (Details) shares in Millions, $ in Millions	1 Months Ended
	Nov. 30, 2011 USD ($) Y	Nov. 03, 2011 USD ($)	Oct. 18, 2011 shares	Sep. 30, 2011 USD ($)	Dec. 31, 2010 USD ($)
Subsequent Event
Maximum borrowing capacity under revolving credit facility				$ 750.0
Option to increase the borrowing capacity under revolving credit facility				150.0
Revolving credit facility balance				(210.0)	$ (460.0)
Repurchase program
Subsequent Event
Maximum number of shares authorized to be purchased (in shares) \| shares			2.0
Remaining number of shares authorized to be purchased (in shares) \| shares			3.0
Debt issuance \| Senior unsecured credit facility
Subsequent Event
Aggregate principal amount	$ 1,000.0
Term of debt (in years) \| Y	5
Debt issuance \| Unsecured revolving credit facility
Subsequent Event
Aggregate principal amount	$ 750.0
Option to increase the borrowing capacity under revolving credit facility				150.0
Revolving credit facility balance				(210.0)
Debt issuance \| Term loan
Subsequent Event
Aggregate principal amount	$ 250.0
Option to increase the borrowing capacity under revolving credit facility				$ 250.0
Debt amendment \| Unsecured revolving credit facility
Subsequent Event
Term of debt (in years) \| Y	5
Maximum borrowing capacity under revolving credit facility		$ 750.0
Revolver credit facility that will mature on November 3, 2016		720.0
Revolver credit facility that will mature on January 12, 2015		$ 30.0

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2011	Nov. 01, 2011
Document and Entity Information
Entity Registrant Name	AFFILIATED MANAGERS GROUP INC
Entity Central Index Key	0001004434
Document Type	10-Q
Document Period End Date	Sep. 30, 2011
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		51,470,034
Document Fiscal Year Focus	2011
Document Fiscal Period Focus	Q3