Investments

Investments consist primarily of investments in the Company's sponsored mutual funds, excluding the investments in consolidated sponsored investment products and the consolidated investment product, which are separately discussed in Note 14. At March 31, 2017 and December 31, 2016 the Company's investments were as follows:



	March 31, 2017		December 31, 2016
($ in thousands)
Marketable securities	$	70,595	$	74,907
Equity method investments	8,360		7,731
Nonqualified retirement plan assets	6,186		5,808
Other investments	925		925
Total investments	$	86,066	$	89,371

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:

March 31, 2017



	Cost		Unrealized Loss			Unrealized Gain		Fair Value
($ in thousands)
Trading:
Sponsored mutual funds	$	57,071	$	(2,185	)	$	112	$	54,998
Equity securities	10,705		—			1,269		11,974
Available-for-sale:
Sponsored closed-end funds	3,566		(247		)	304		3,623
Total marketable securities	$	71,342	$	(2,432	)	$	1,685	$	70,595

December 31, 2016



	Cost		Unrealized Loss			Unrealized Gain		Fair Value
($ in thousands)
Trading:
Sponsored mutual funds	$	61,784	$	(1,942	)	$	177	$	60,019
Equity securities	10,578		—			895		11,473
Available-for-sale:
Sponsored closed-end funds	3,500		(265		)	180		3,415
Total marketable securities	$	75,862	$	(2,207	)	$	1,252	$	74,907

For the three months ended March 31, 2017, the Company recognized a net realized gain of $0.6 million on trading securities, and for three months ended March 31, 2016, the Company recognized a net realized loss of $0.4 million on trading securities.