Investments (Tables)

6 Months Ended

Jun. 30, 2022

Investments, Debt and Equity Securities [Abstract]

Summary of Investments

Investments consist of:

	June 30, 2022		December 31, 2021
	(in thousands)
Equity securities:
Long-term incentive compensation-related	$	20,897	$	32,237
Seed capital	119,083		133,992
Other	1,401		18,243
Exchange-traded options	59		1,893
Investments in limited partnership hedge funds:
Long-term incentive compensation-related	26,165		31,602
Seed capital	17,632		19,318
Time deposits	20,210		21,024
Other	11,016		15,109
Total investments	$	216,463	$	273,418

Portion of Unrealized Gains (Losses) Related to Equity Securities

The portion of unrealized (losses) gains related to equity securities, as defined by ASC 321-10, held as of June 30, 2022 and 2021 were as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
	(in thousands)
Net (losses) gains recognized during the period	$	(17,328)	$	7,719	$	(33,878)	$	12,606
Less: net gains recognized during the period on equity securities sold during the period	5,217		12,156		9,756		16,721
Unrealized (losses) recognized during the period on equity securities held	$	(22,545)	$	(4,437)	$	(43,634)	$	(4,115)