Offsetting Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2020

Schedule of Offsetting of Financial Assets

Offsetting of assets as of September 30, 2020 and December 31, 2019 was as follows:


	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Financial Condition		Net Amounts of Assets Presented in the Statement of Financial Condition		Financial Instruments		Cash Collateral Received		Net Amount
	(in thousands)
September 30, 2020:
Securities borrowed	$	13,303	$	—	$	13,303	$	(11,567)	$	—	$	1,736
Derivatives	$	26,670	$	—	$	26,670	$	—	$	(980)	$	25,690
Long exchange-traded options	$	12,153	$	—	$	12,153	$	—	$	—	$	12,153
December 31, 2019:
Securities borrowed	$	38,993	$	—	$	38,993	$	(38,993)	$	—	$	—
Derivatives	$	13,491	$	—	$	13,491	$	—	$	(251)	$	13,240
Long exchange-traded options	$	6,931	$	—	$	6,931	$	—	$	—	$	6,931

Offsetting of derivative assets of consolidated company-sponsored investment funds as of September 30, 2020 and December 31, 2019 was as follows:


	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Financial Condition		Net Amounts of Assets Presented in the Statement of Financial Condition		Financial Instruments		Cash Collateral Received		Net Amount
	(in thousands)
September 30, 2020:
Derivatives - VIEs	$	1,299	$	—	$	1,299	$	—	$	(301)	$	998
Derivatives - VOEs	$	3,574	$	—	$	3,574	$	—	$	(985)	$	2,589
December 31, 2019:
Derivatives - VIEs	$	4,833	$	—	$	4,833	$	—	$	(1,631)	$	3,202
Derivatives - VOEs	$	4,339	$	—	$	4,339	$	—	$	(534)	$	3,805

Schedule of Offsetting of Financial Liabilities

Offsetting of liabilities as of September 30, 2020 and December 31, 2019 was as follows:


	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statement of Financial Condition		Net Amounts of Liabilities Presented in the Statement of Financial Condition		Financial Instruments		Cash Collateral Pledged		Net Amount
	(in thousands)
September 30, 2020:
Securities loaned	$	15,150	$	—	$	15,150	$	—	$	(14,254)	$	896
Derivatives	$	28,230	$	—	$	28,230	$	—	$	(3,553)	$	24,677
Short exchange-traded options	$	11,091	$	—	$	11,091	$	—	$	—	$	11,091
December 31, 2019:

Derivatives	$	19,259	$	—	$	19,259	$	—	$	(4,276)	$	14,983
Short exchange-traded options	$	12,348	$	—	$	12,348	$	—	$	—	$	12,348

Offsetting of derivative liabilities of consolidated company-sponsored investment funds as of September 30, 2020 and December 31, 2019 was as follows:


	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statement of Financial Condition		Net Amounts of Liabilities Presented in the Statement of Financial Condition		Financial Instruments		Cash Collateral Pledged		Net Amount
	(in thousands)
September 30, 2020:
Derivatives - VIEs	$	4,391	$	—	$	4,391	$	—	$	(3,697)	$	694
Derivatives - VOEs	$	1,155	$	—	$	1,155	$	—	$	(1,155)	$	—
December 31, 2019:
Derivatives - VIEs	$	4,559	$	—	$	4,559	$	—	$	(3,155)	$	1,404
Derivatives - VOEs	$	5,083	$	—	$	5,083	$	—	$	(1,201)	$	3,882