Investments

3 Months Ended

Mar. 31, 2021

Schedule of Investments [Abstract]

Investments

Investments

Investments consist primarily of investments in the Company's sponsored products. The Company's investments, excluding the assets of consolidated investment products ("CIP") discussed in Note 16, at March 31, 2021 and December 31, 2020 were as follows:

(in thousands)	March 31, 2021		December 31, 2020
Investment securities - fair value	$	40,904	$	39,990
Equity method investments (1)	13,568		12,676
Nonqualified retirement plan assets	11,177		10,612
Other investments	2,002		1,666
Total investments	$	67,651	$	64,944

(1)     The Company's equity method investments are valued on a three-month lag based upon the availability of financial information. 

Investment Securities - fair value

Investment securities - fair value consist of investments in the Company's sponsored funds, separately managed accounts and trading debt securities. The composition of the Company’s investment securities - fair value was as follows:

	March 31, 2021				December 31, 2020
(in thousands)	Cost		Fair Value		Cost		Fair Value
Investment Securities - fair value
Sponsored funds	$	27,323	$	26,598	$	22,378	$	25,909
Equity securities	10,467		14,303		9,614		14,078
Debt securities	7		3		7		3
Total investment securities - fair value	$	37,797	$	40,904	$	31,999	$	39,990

For the three months ended March 31, 2021, the Company recognized realized gains of $0.8 million on the sale of its investment securities - fair value. For the three months ended March 31, 2020, the Company recognized realized losses of $0.3 million on the sale of its investment securities - fair value.