Sub Advisory Fees was Associated Capital’s largest product and service line in fiscal 2024, bringing in $5.00M of $13.60M (37%).
| Product and Service | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|---|---|---|---|---|
| Investment Advisory & Incentive Fees | — | — | — | — | ||||
| Revenue Generated Through Hard Dollar Payments Or Through Commissions On Securities Transactions Executed On An Agency Basis On Behalf Of Clients | — | — | — | — | ||||
| Sub Advisory Fees | $8.50M | $7.08M | $3.74M | $5.00M | ||||
| Investment Recommendation & Research Provided To Customers Of Other Investment Advisors | — | — | — | — | ||||
| Asset Based Advisory Fees | $5.02M | $5.18M | $5.12M | $4.75M | ||||
| Investment Recommendation & Research Provided To Customer Related To Asset-Based Services | — | — | — | — | ||||
| Charges On The Execution Of Securities Transactions Made On Behalf Of Client Accounts On An Agency Basis & Are Based On A Rate Schedule. Entity Recognizes Commission Revenue In The Period When The Securities Transactions Are Executed | — | — | — | — | ||||
| Performance Based Advisory Fees | $7.01M | $2.54M | $3.46M | $3.00M | ||||
| Investment Recommendation & Research Provided To Customer Related To Services On Performance-Based Services | — | — | — | — | ||||
| Direct Payments Received From Research Services Provided To Related & Unrelated Parties | — | — | — | — | ||||
| Financial Service, Other | $394.00K | $427.00K | $359.00K | $420.00K | ||||
| Other | — | — | — | — | ||||
| Other Miscellaneous Revenues | $394.00K | $427.00K | $359.00K | $420.00K | ||||
| Revenue Generated From Any Sources Which Are Not Classified By Entity | — | — | — | — | ||||
| Other Revenues Include (A) Underwriting Fees Include Gains, Losses, & Fees, Net Of Syndicate Expenses, Arising From Public Equity And Debt Offerings, And B) Other Miscellaneous Revenues | — | — | — | — | ||||
| Selling Group Of Underwritten Equity Offerings & Receives Compensation Based On The Difference Between What Its Clients Pay For The Securities Sold To Its Institutional Clients And What The Issuer Receives | — | — | — | — | ||||
| Underwriting Fees Include Gains, Losses, & Fees, Net Of Syndicate Expenses, Arising From Public Equity And Debt Offerings | — | — | — | — | ||||
| A Tiered Percentage Of Proceeds The Company Receives As Sales Manager Of At-The-Market Offerings Of Certain Affiliated Closed-End Fund | — | — | — | — | ||||
| Total | $21.32M | $15.66M | $13.04M | $13.60M |
Associated Capital brought in $13.60M from its five product and service lines in fiscal 2024, the year ended December 31, 2024. That was up 4.2% from $13.04M in fiscal 2023. Sub Advisory Fees was the largest at $5.00M (36.8%), ahead of Asset Based Advisory Fees at $4.75M (35.0%) and Performance Based Advisory Fees at $3.00M (22.1%). The other two lines brought in $840.00K combined.
Compared with fiscal 2023, Sub Advisory Fees grew fastest, up 33.7% to $5.00M, while Performance Based Advisory Fees fell the most, down 13.4% to $3.00M. From fiscal 2021 to 2024, combined revenue from these lines fell from $21.32M to $13.60M, a compound annual decline of 13.9%. Sub Advisory Fees' share of the total fell from 39.9% to 36.8%.
Consolidated Entity, Excluding Consolidated Entities was Associated Capital’s largest revenue line in fiscal 2024, bringing in $13.43M of $13.18M (102%).
| Consolidated Entities | FY 2021 | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|---|
| Consolidated Entity, Excluding Consolidated Entities | $23.85M | $15.88M | $13.13M | $13.43M |
| Consolidated Entities | -$2.93M | -$656.00K | -$442.00K | -$255.00K |
| Total | $20.92M | $15.23M | $12.68M | $13.18M |
Associated Capital brought in $13.18M from its two revenue lines in fiscal 2024, the year ended December 31, 2024. That was up 3.9% from $12.68M in fiscal 2023. Consolidated Entity, Excluding Consolidated Entities was the largest at $13.43M (101.9%).
From fiscal 2021 to 2024, combined revenue from these revenue lines fell from $20.92M to $13.18M, a compound annual decline of 14.3%. Consolidated Entity, Excluding Consolidated Entities' share of the total fell from 114.0% to 101.9%.
The total is net of Consolidated Entities, which took $255.00K off revenue in fiscal 2024.
Refers To Prior To Consolidation Activities was Associated Capital’s largest revenue line in fiscal 2017, bringing in $26.96M of $26.92M (100%).
| Investment Type | FY 2014 | FY 2015 | FY 2016 | FY 2017 |
|---|---|---|---|---|
| Refers To Prior To Consolidation Activities | $22.03M | $22.88M | $31.25M | $26.96M |
| Refers To Partnership In Both Affiliated & Unaffiliated Entities, Which The Company Accounts For Under The Equity Method Of Accounting, | -$3.00K | — | — | — |
| Refers To An Investment Fund Which Does Almost All Of Its Investments Through A Master Fund Via A Master-Feeder Relationship. It Is A Situation Similar To A Fund Of Funds, Except That The Master Fund Performs All The Investments | -$28.00K | — | — | — |
| Refers To Entities Which Have Been Consolidated For Presentation Purposes | — | -$41.00K | -$20.00K | -$47.00K |
| Offshore Funds Refers To A Collective Investment Scheme Domiciled In An Offshore Jurisdiction | -$967.00K | — | — | — |
| Total | $21.03M | $22.84M | $31.23M | $26.92M |
Associated Capital brought in $26.92M from its two revenue lines in fiscal 2017, the year ended December 31, 2017. That was down 13.8% from $31.23M in fiscal 2016. Refers To Prior To Consolidation Activities was the largest at $26.96M (100.2%).
Associated Capital began breaking out Refers To Entities Which Have Been Consolidated For Presentation Purposes in fiscal 2015, when it brought in -$41.00K. The total is net of Refers To Entities Which Have Been Consolidated For Presentation Purposes, which took $47.00K off revenue in fiscal 2017.
Associated Capital (ACGP) reports its revenue by product and service, by consolidated entities and by investment type. In fiscal 2024, Sub Advisory Fees was its largest product and service line, bringing in $5.00M (36.8% of the total), followed by Asset Based Advisory Fees at $4.75M (35.0%).
Sub Advisory Fees was Associated Capital's largest product and service line in fiscal 2024, bringing in $5.00M, or 36.8% of the $13.60M total across its five product and service lines.
Consolidated Entity, Excluding Consolidated Entities was Associated Capital's largest revenue line in fiscal 2024, bringing in $13.43M, or 101.9% of the $13.18M total across its two revenue lines.
Among Associated Capital's product and service lines that make up at least 2% of revenue, Sub Advisory Fees grew fastest in fiscal 2024, up 33.7% from $3.74M to $5.00M.
Every figure comes from Associated Capital's annual financial filings, as reported. Each line keeps the name Associated Capital gives it, and years follow its fiscal calendar.
Associated Capital's revenue by product and service goes back to fiscal 2017, with figures through fiscal 2024. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.