Marketable Securities (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of Marketable Securities

The Company’s marketable securities consist of both trading (including securities held by a broker-dealer affiliate) and available-for-sale securities. The composition of the Company’s marketable securities is summarized as follows:

December 31, 2012
	Cost		Unrealized Loss			Unrealized Gain		Fair Value
($ in thousands)
Trading:
Sponsored mutual funds and variable insurance funds	$	7,312	$	(689	)	$	1,390	$	8,013
Investments of consolidated sponsored investment products		41,367		(165	)		2,025		43,227
Equity securities		3,739		—			640		4,379
Available-for-sale:
Sponsored closed-end funds		2,619		(37	)		74		2,656
Total marketable securities	$	55,037	$	(891	)	$	4,129	$	58,275

December 31, 2011
	Cost		Unrealized Loss			Unrealized Gain		Fair Value
($ in thousands)
Trading:
Sponsored mutual funds and variable insurance funds	$	9,195	$	(1,263	)	$	1,048	$	8,980
Equity securities		3,434		(3	)		115		3,546
Available-for-sale:
Sponsored closed-end funds		2,240		(38	)		267		2,469
Total marketable securities	$	14,869	$	(1,304	)	$	1,430	$	14,995