Investments (Tables)

3 Months Ended

Mar. 31, 2014

Investments Schedule [Abstract]

Investments

The Company’s investments, excluding the assets of consolidated sponsored investment products discussed in Note 10, at March 31, 2014 and December 31, 2013 are as follows:

	March 31, 2014		December 31, 2013
($ in thousands)
Marketable securities	$	93,949	$	28,968
Equity method investments		4,242		4,070
Nonqualified retirement plan assets		4,299		4,220
Total investments	$	102,490	$	37,258

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:

March 31, 2014

	Cost		Unrealized Loss			Unrealized Gain		Fair Value
($ in thousands)
Trading:
Sponsored mutual funds and variable insurance funds	$	75,866	$	(627	)	$	6,959	$	82,198
Equity securities		7,486		—			1,424		8,910
Available-for-sale:
Sponsored closed-end funds		2,867		(108	)		82		2,841
Total marketable securities	$	86,219	$	(735	)	$	8,465	$	93,949

December 31, 2013

	Cost		Unrealized Loss			Unrealized Gain		Fair Value
($ in thousands)
Trading:
Sponsored mutual funds and variable insurance funds	$	16,079	$	(704	)	$	2,529	$	17,904
Equity securities		7,043		—			1,336		8,379
Available-for-sale:
Sponsored closed-end funds		2,815		(145	)		15		2,685
Total marketable securities	$	25,937	$	(849	)	$	3,880	$	28,968