Investments (Tables)

3 Months Ended

Mar. 31, 2018

Investments, Debt and Equity Securities [Abstract]

Summary of Investments

Investments consist of:
	March 31, 2018		December 31, 2017
	(in thousands)
U.S. Treasury Bills	$	52,685	$	52,609
Equity securities:
Long-term incentive compensation-related	42,022		51,758
Seed capital	137,033		160,672
Other	74,177		81,154
Exchange-traded options	5,395		4,981
Investments in limited partnership hedge funds:
Long-term incentive compensation-related	14,378		14,276
Seed capital	24,734		22,923
Private equity (seed capital)	38,011		38,186
Time deposits	5,160		5,138
Other	11,786		11,892
Total investments	$	405,381	$	443,589

Portion of Unrealized Gains (Losses) Related to Equity Securities

The portion of unrealized gains (losses) for the three months ended March 31, 2018 and 2017 related to equity securities held as of March 31, 2018 and 2017 were as follows:

	Three Months Ended March 31,
	2018			2017
	(in thousands)
Net (losses) gains recognized during the period	$	(1,823	)	$	14,189
Less: net gains recognized during the period on equity securities sold during the period	1,282			1,408
Unrealized (losses) gains recognized during the period on equity securities held	$	(3,105	)	$	12,781