Investments

Investments consist primarily of investments in the Company's sponsored mutual funds. The Company’s investments, excluding the investments of consolidated sponsored investment products and the investments of the consolidated investment product, which are separately discussed in Note 12, at March 31, 2016 and December 31, 2015 were as follows:



	March 31, 2016		December 31, 2015
($ in thousands)
Marketable securities	$	79,505	$	41,496
Equity method investments	10,145		9,007
Nonqualified retirement plan assets	5,319		5,310
Other investments	925		925
Total investments	$	95,894	$	56,738

Marketable Securities

The Company’s marketable securities consist of both trading and available-for-sale securities. The composition of the Company’s marketable securities is summarized as follows:

March 31, 2016



	Cost		Unrealized Loss			Unrealized Gain		Fair Value
($ in thousands)
Trading:
Sponsored funds	$	69,144	$	(3,186	)	$	186	$	66,144
Equity securities	10,055		(340		)	333		10,048
Available-for-sale:
Sponsored closed-end funds	3,417		(260		)	156		3,313
Total marketable securities	$	82,616	$	(3,786	)	$	675	$	79,505

December 31, 2015



	Cost		Unrealized Loss			Unrealized Gain		Fair Value
($ in thousands)
Trading:
Sponsored funds	$	31,167	$	(2,134	)	$	298	$	29,331
Equity securities	9,434		(386		)	120		9,168
Available-for-sale:
Sponsored closed-end funds	3,355		(365		)	7		2,997
Total marketable securities	$	43,956	$	(2,885	)	$	425	$	41,496

For the three months ended March 31, 2016, the Company recognized a net realized loss of $0.4 million on trading securities, and for the three months ended March 31, 2015, the Company recognized a net realized gain of $0.4 million on trading securities.