Marketable Securities

3 Months Ended

Mar. 31, 2013

Investments Debt And Equity Securities [Abstract]

Marketable Securities

4. Marketable Securities

The Company’s marketable securities consist of trading securities, investments of consolidated sponsored investment products, and available-for-sale securities. The composition of the Company’s marketable securities is summarized as follows:

March 31, 2013
	Cost		Unrealized Loss			Unrealized Gain		Fair Value
($ in thousands)
Trading:
Sponsored mutual funds and variable insurance funds	$	12,378	$	(645	)	$	2,391	$	14,124
Investments of consolidated sponsored investment products		35,689		(459	)		1,418		36,648
Equity securities		3,702		—			1,027		4,729
Available-for-sale:
Sponsored closed-end funds		2,667		(21	)		170		2,816
Total marketable securities	$	54,436	$	(1,125	)	$	5,006	$	58,317
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