CASH AND CASH EQUIVALENTS AND SHORT TERM INVESTMENTS (Tables)

9 Months Ended

Sep. 30, 2015

Summary of Short-term Investments

The following table summarizes short-term investments as at September 30, 2015 and December 31, 2014:

	2015 September 30		2014 December 31
	(In thousands)
Investments in mutual funds at fair value	$	94,503	$	186,842
Term deposits with banks		409,084		466,625
Fixed Maturity Plans (FMPs) of mutual funds, at cost		—		15,886
Total	$	503,587	$	669,353

Investments in Held-to-Maturity Securities

Held to Maturity Securities

Investments in held-to-maturity securities (“HTM”) of the Company consist of investments in the units of FMPs of mutual funds in Indian subsidiaries.

Description	As of September 30, 2015		As of December 31, 2014
(In thousands)
Aggregate fair value of the investment	$	—	$	16,612
Less: Gross unrecognized holding gain	$	—		726
Net carrying amount	$	—	$	15,886