Investments

Investments consist primarily of investments in the Company's sponsored mutual funds. The Company’s investments, excluding the investments of consolidated sponsored investment products and the investments of the consolidated investment product, which are separately discussed in Note 13, at June 30, 2016 and December 31, 2015 were as follows:



	June 30, 2016		December 31, 2015
($ in thousands)
Marketable securities	$	80,234	$	41,496
Equity method investments	5,147		9,007
Nonqualified retirement plan assets	5,430		5,310
Other investments	925		925
Total investments	$	91,736	$	56,738

Marketable Securities

The Company’s marketable securities consist of both trading and available-for-sale securities. The composition of the Company’s marketable securities is summarized as follows:

June 30, 2016



	Cost		Unrealized Loss			Unrealized Gain		Fair Value
($ in thousands)
Trading:
Sponsored funds	$	69,355	$	(3,146	)	$	256	$	66,465
Equity securities	10,217		(356		)	339		10,200
Available-for-sale:
Sponsored closed-end funds	3,476		(221		)	314		3,569
Total marketable securities	$	83,048	$	(3,723	)	$	909	$	80,234

December 31, 2015



	Cost		Unrealized Loss			Unrealized Gain		Fair Value
($ in thousands)
Trading:
Sponsored funds	$	31,167	$	(2,134	)	$	298	$	29,331
Equity securities	9,434		(386		)	120		9,168
Available-for-sale:
Sponsored closed-end funds	3,355		(365		)	7		2,997
Total marketable securities	$	43,956	$	(2,885	)	$	425	$	41,496

For the three months ended June 30, 2016, the Company recognized a net realized gain of $0.2 million on trading securities and for the six months ended June 30, 2016, the Company recognized a net realized loss of $0.2 million on trading securities. For the three and six months ended June 30, 2015, the Company recognized a net realized gain of $0.5 million and $0.9 million, respectively, on trading securities.