Investments (Tables)

9 Months Ended

Sep. 30, 2022

Investments, Debt and Equity Securities [Abstract]

Summary of Investments

Investments consist of:

	September 30, 2022		December 31, 2021
	(in thousands)
Equity securities:
Long-term incentive compensation-related	$	19,602	$	32,237
Seed capital	105,872		133,992
Other	12,629		18,243
Exchange-traded options	4,837		1,893
Investments in limited partnership hedge funds:
Long-term incentive compensation-related	26,214		31,602
Seed capital	16,013		19,318
Time deposits	17,298		21,024
Other	9,085		15,109
Total investments	$	211,550	$	273,418

Portion of Unrealized (Losses) Gains Related to Equity Securities

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(in thousands)
Net gains (losses) recognized during the period	$	2,603	$	1,853	$	(31,275)	$	14,459
Less: net gains recognized during the period on equity securities sold during the period	8,197		2,902		17,953		19,623
Unrealized (losses) recognized during the period on equity securities held	$	(5,594)	$	(1,049)	$	(49,228)	$	(5,164)