Investments (Tables)

6 Months Ended

Jun. 30, 2018

Investments, Debt and Equity Securities [Abstract]

Summary of Investments

Investments consist of:
	June 30, 2018		December 31, 2017
	(in thousands)
U.S. Treasury Bills	$	47,565	$	52,609
Equity securities:
Long-term incentive compensation-related	42,096		51,758
Seed capital	119,333		160,672
Other	92,996		81,154
Exchange-traded options	8,233		4,981
Investments in limited partnership hedge funds:
Long-term incentive compensation-related	14,935		14,276
Seed capital	123,281		22,923
Private equity (seed capital)	36,967		38,186
Time deposits	8,793		5,138
Other	11,438		11,892
Total investments	$	505,637	$	443,589

Portion of Unrealized Gains (Losses) Related to Equity Securities

The portion of unrealized gains (losses) for the three and six months ended June 30, 2018 and 2017 related to equity securities held as of June 30, 2018 and 2017 were as follows:

	Three Months Ended June 30,						Six Months Ended June 30,
	2018			2017			2018			2017
	(in thousands)
Net (losses) gains recognized during the period	$	(1,783	)	$	3,401		$	(3,606	)	$	17,590
Less: net gains recognized during the period on equity securities sold during the period	382			12,293			1,664			13,701
Unrealized (losses) gains recognized during the period on equity securities held	$	(2,165	)	$	(8,892	)	$	(5,270	)	$	3,889