Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash flows from operating activities:
Net income	$ 57,499	$ 71,040
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	10,396	8,627
Amortization of deferred sales commissions	2,675	19,661
Share-based compensation	25,622	26,147
Investments gain, net	(4,662)	(8,560)
Net purchases of trading securities	(15,613)	(24,996)
Net change in trading securities held by consolidated sponsored funds	(114,407)	(45,455)
Other	2,388	(908)
Changes in assets and liabilities:
Cash and cash equivalents - restricted	(7,161)	33,680
Customer and other receivables	28,823	54,004
Payable to investment companies for securities and payable to customers	(33,943)	(100,595)
Receivables from funds and separate accounts	5,994	8,309
Other assets	1,600	6,560
Accounts payable and payable to third party brokers	(6,805)	(22,852)
Other liabilities	10,332	(6,216)
Net cash provided by operating activities	(37,262)	18,446
Cash flows from investing activities:
Purchases of available for sale and equity method securities	(28,881)	(104)
Proceeds from sales of available for sale and equity method securities	14,917	17,986
Additions to property and equipment	(3,704)	(9,265)
Net cash of sponsored funds on consolidation		6,887
Other		(196)
Net cash (used in) provided by investing activities	(17,668)	15,308
Cash flows from financing activities:
Dividends paid	(77,236)	(76,616)
Repurchase of common stock	(12,013)	(47,461)
Net subscriptions, (redemptions, distributions and deconsolidations) of redeemable noncontrolling interests in sponsored funds	16,929	(2,224)
Other	87	1,510
Net cash used in financing activities	(72,233)	(124,791)
Net decrease in cash and cash equivalents	(127,163)	(91,037)
Cash and cash equivalents at beginning of period	555,102	558,495
Cash and cash equivalents at end of period	$ 427,939	$ 467,458