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EXCEL - IDEA: XBRL DOCUMENT - Titanium Asset Management CorpFinancial_Report.xls
10-Q - FORM 10-Q - Titanium Asset Management Corpv325437_10q.htm
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EX-31.1 - EXHIBIT 31.1 - Titanium Asset Management Corpv325437_ex31-1.htm
EX-32.2 - EXHIBIT 32.2 - Titanium Asset Management Corpv325437_ex32-2.htm
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EX-32.1 - EXHIBIT 32.1 - Titanium Asset Management Corpv325437_ex32-1.htm
v2.4.0.6
Goodwill and intangible assets
9 Months Ended
Sep. 30, 2012
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and intangible assets

Note 5 – Goodwill and intangible assets

 

The Company earns referral fees on clients referred to a hedge fund manager with whom we have a referral arrangement. Following the end of the first quarter of 2011, the Company was notified by the hedge fund manager of redemptions and a reduction in its referral fee rates that significantly exceeded the estimates that were received in connection with the 2010 year end assessment of goodwill. From ensuing discussions with the management of hedge fund manager, the Company became aware of additional concerns with the relationship that may impact the marketing relationship beyond the current contractual period. These factors caused the Company to further reduce its long-term forecast of referral fee revenues and triggered an interim assessment of goodwill as of March 31, 2011. As a result of that assessment, the Company concluded that goodwill had been impaired and recognized an impairment charge of $3,500,000 as the reduction in the forecast long-term referral fee revenues had resulted in a reduced estimate of the Company’s value.