Investments

3 Months Ended

Mar. 31, 2022

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, 2022 and December 31, 2021 were as follows:

(in thousands)	March 31, 2022		December 31, 2021
Investment securities - fair value	$	88,421	$	80,335
Equity method investments (1)	13,495		13,038
Nonqualified retirement plan assets	12,701		13,321
Other investments	2,150		2,196
Total investments	$	116,767	$	108,890

(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 and separately managed accounts. The composition of the Company’s investment securities - fair value was as follows:

	March 31, 2022				December 31, 2021
(in thousands)	Cost		Fair Value		Cost		Fair Value
Investment Securities - fair value
Sponsored funds	$	74,362	$	75,722	$	63,090	$	66,326
Equity securities	10,676		12,699		10,659		14,009
Total investment securities - fair value	$	85,038	$	88,421	$	73,749	$	80,335

For the three months ended March 31, 2022 and March 31, 2021, the Company recognized realized gains of $0.1 million and $0.8 million, respectively, on the sale of its investment securities - fair value.