Investment Securities (Tables)

12 Months Ended

Dec. 31, 2016

Investment securities at December 31, 2016 and 2015 are as follows:


	December 31,		December 31,
	2016		2015
		(in thousands)
Available for sale securities:
Sponsored funds	$	122,806	40,552
Sponsored privately offered funds		570	825
Total available for sale securities		123,376	41,377
Trading securities:
Mortgage-backed securities		13	20
Corporate bond		—	5
Common stock		101	87
Consolidated sponsored funds		145,710	—
Sponsored funds		29,541	29,701
Total trading securities		175,365	29,813
Equity method securities:
Sponsored funds		26,775	217,380
Sponsored privately offered funds		3,234	3,173
Total equity method securities		30,009	220,553
Total securities	$	328,750	291,743

Summary of the gains (losses) related to securities

The following is a summary of the gross unrealized gains (losses) related to securities classified as available for sale at December 31, 2016:


	Amortized		Unrealized	Unrealized
	cost		gains	losses	Fair value
	(in thousands)
Available for sale securities:
Sponsored funds	$	129,427	828	(7,449)	122,806
Sponsored privately offered funds		265	305	—	570
	$	129,692	1,133	(7,449)	123,376

The following is a summary of the gross unrealized gains (losses) related to securities classified as available for sale at December 31, 2015:


	Amortized		Unrealized	Unrealized
	cost		gains	losses	Fair value
	(in thousands)
Available for sale securities:
Sponsored funds	$	46,800	434	(6,682)	40,552
Sponsored privately offered funds		500	325	—	825
	$	47,300	759	(6,682)	41,377

Summary of available for sale sponsored funds with fair values below carrying values

A summary of available for sale sponsored funds with fair values below carrying values at December 31, 2016 is as follows:

Less than 12 months

12 months or longer

Total

Unrealized

December 31, 2016

Fair value

losses

Fair value

losses

Fair value

losses

(in thousands)

Sponsored funds

71,051

(1,834)

34,182

(5,615)

105,233

(7,449)

Summary of balances related to consolidated sponsored funds as well the company’s net interest in these funds

The following table details the balances related to consolidated sponsored funds at December 31, 2016, as well as the Company’s net interest in these funds:


	December 31, 2016
	(in thousands)
Cash	$	6,885
Investments		145,710
Other assets		763
Other liabilities		(390)
Redeemable noncontrolling interests		(10,653)
Net interest in consolidated sponsored funds	$	142,315

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References + Details