Offsetting Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2021

Schedule of Offsetting of Financial Assets

Offsetting of assets as of September 30, 2021 and December 31, 2020 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 Collateral		Cash Collateral Received		Net Amount
	(in thousands)
September 30, 2021:
Securities borrowed	$	15,384	$	—	$	15,384	$	(14,161)	$	—	$	1,223
Derivatives	$	18,159	$	—	$	18,159	$	—	$	(2,712)	$	15,447
Long exchange-traded options	$	1,569	$	—	$	1,569	$	—	$	—	$	1,569
December 31, 2020:
Securities borrowed	$	7,808	$	—	$	7,808	$	(7,344)	$	—	$	464
Derivatives	$	21,741	$	—	$	21,741	$	—	$	(380)	$	21,361
Long exchange-traded options	$	7,527	$	—	$	7,527	$	—	$	—	$	7,527

Offsetting of derivative assets of consolidated company-sponsored investment funds as of September 30, 2021 and December 31, 2020 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 Collateral		Cash Collateral Received		Net Amount
	(in thousands)
September 30, 2021:
Derivatives - VIEs	$	4,481	$	—	$	4,481	$	—	$	(1,005)	$	3,476

December 31, 2020:
Derivatives - VIEs	$	3,224	$	—	$	3,224	$	—	$	(513)	$	2,711
Derivatives - VOEs	$	464	$	—	$	464	$	—	$	—	$	464

Schedule of Offsetting of Financial Liabilities

Offsetting of liabilities as of September 30, 2021 and December 31, 2020 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 Collateral		Cash Collateral Pledged		Net Amount
	(in thousands)
September 30, 2021:

Derivatives	$	15,276	$	—	$	15,276	$	—	$	(3,354)	$	11,922
Short exchange-traded options	$	701	$	—	$	701	$	—	$	—	$	701
December 31, 2020:

Derivatives	$	30,537	$	—	$	30,537	$	—	$	(6,374)	$	24,163
Short exchange-traded options	$	12,486	$	—	$	12,486	$	—	$	—	$	12,486

Offsetting of derivative liabilities of consolidated company-sponsored investment funds as of September 30, 2021 and December 31, 2020 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 Collateral		Cash Collateral Pledged		Net Amount
	(in thousands)
September 30, 2021:
Derivatives - VIEs	$	21,667	$	—	$	21,667	$	—	$	(1,075)	$	20,592

December 31, 2020:
Derivatives - VIEs	$	6,893	$	—	$	6,893	$	—	$	(4,201)	$	2,692
Derivatives - VOEs	$	664	$	—	$	664	$	—	$	(138)	$	526