Investments (Tables)

3 Months Ended

Mar. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Summary of Investments

Investments consist of:

	March 31, 2022		December 31, 2021
	(in thousands)
Equity securities:
Long-term incentive compensation-related	$	24,128	$	32,237
Seed capital	127,383		133,992
Other	2,232		18,243
Exchange-traded options	445		1,893
Investments in limited partnership hedge funds:
Long-term incentive compensation-related	28,333		31,602
Seed capital	26,392		19,318
Time deposits	21,942		21,024
Other	12,628		15,109
Total investments	$	243,483	$	273,418

Portion of Unrealized Gains (Losses) Related to Equity Securities

The portion of unrealized gains (losses) related to equity securities, as defined by ASC 321-10, held as of March 31, 2022 and 2021 were as follows:

	Three Months Ended March 31,
	2022		2021
	(in thousands)
Net (losses) gains recognized during the period	$	(16,550)	$	4,887
Less: net gains recognized during the period on equity securities sold during the period	4,539		4,565
Unrealized (losses) gains recognized during the period on equity securities held	$	(21,089)	$	322