Fair Values of Assets and Liabilities by Level (Details 1) - USD ($) $ in Thousands		Jun. 30, 2016		Mar. 31, 2016		Mar. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Proprietary Fund Products Equity Securities		70.00%		68.00%
Proprietary Fund Products Debt Securities		30.00%		32.00%
Business Combination, Contingent Consideration, Liability		$ (62,923)		$ (84,585)		$ (110,784)
Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money Market Funds, at Carrying Value	[1]	196,414		1,057,916
Time Deposits, at Carrying Value	[1]	8,846		35,265
Cash and Cash Equivalents, Fair Value Disclosure	[1]	205,260		1,093,181
Derivative Asset, Fair Value, Amount Not Offset Against Collateral	[2],[3]	977		8,650
Other Investments	[2]	90		83
Assets, Fair Value Disclosure		735,672		1,662,554
Short-term Investments	[4]	447,647		515,335
Business Combination, Contingent Consideration, Liability	[5]	(62,923)		84,585
Derivative Liability, Fair Value, Amount Not Offset Against Collateral		(9,740)	[2]	18,079	[3]
Liabilities, Fair Value Disclosure, Recurring		(72,663)		(102,664)
Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money Market Funds, at Carrying Value	[1]	196,414		1,057,916
Time Deposits, at Carrying Value	[1]	0		0
Cash and Cash Equivalents, Fair Value Disclosure	[1]	196,414		1,057,916
Derivative Asset, Fair Value, Amount Not Offset Against Collateral	[2],[3]	977		1,051
Other Investments	[2]	0		0
Assets, Fair Value Disclosure		532,784		1,436,584
Short-term Investments	[4]	335,393		377,617
Business Combination, Contingent Consideration, Liability	[5]	0		0
Derivative Liability, Fair Value, Amount Not Offset Against Collateral		(5,371)	[2]	18,079	[3]
Liabilities, Fair Value Disclosure, Recurring		(5,371)		(18,079)
Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money Market Funds, at Carrying Value	[1]	0		0
Time Deposits, at Carrying Value	[1]	8,846		35,265
Cash and Cash Equivalents, Fair Value Disclosure	[1]	8,846		35,265
Derivative Asset, Fair Value, Amount Not Offset Against Collateral	[2],[3]	0		7,599
Other Investments	[2]	0		0
Assets, Fair Value Disclosure		112,765		161,258
Short-term Investments	[4]	103,826		118,394
Business Combination, Contingent Consideration, Liability	[5]	0		0
Derivative Liability, Fair Value, Amount Not Offset Against Collateral		(4,369)	[2]	0	[3]
Liabilities, Fair Value Disclosure, Recurring		(4,369)		0
Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money Market Funds, at Carrying Value	[1]	0		0
Time Deposits, at Carrying Value	[1]	0		0
Cash and Cash Equivalents, Fair Value Disclosure	[1]	0		0
Derivative Asset, Fair Value, Amount Not Offset Against Collateral	[2],[3]	0		0
Other Investments	[2]	90		83
Assets, Fair Value Disclosure		39,145		13,021
Short-term Investments	[4]	2,587		3
Business Combination, Contingent Consideration, Liability	[5]	(62,923)		84,585
Derivative Liability, Fair Value, Amount Not Offset Against Collateral		0	[2]	0	[3]
Liabilities, Fair Value Disclosure, Recurring		(62,923)		(84,585)
Consolidated Investment Vehicles [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Securities		146,520		48,715
Equity Method Investments, Fair Value Disclosure		59,448		13,641
Assets, Fair Value Disclosure		154,041
Short-term Investments		146,520		48,715
Consolidated Investment Vehicles [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Securities		72,239		22,327
Assets, Fair Value Disclosure		72,239
Consolidated Investment Vehicles [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Securities		56,086		8,244
Assets, Fair Value Disclosure		56,086
Consolidated Investment Vehicles [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Securities		0		0
Assets, Fair Value Disclosure		0
Hedge Funds | Consolidated Investment Vehicles [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Securities		18,195		18,144
Investments		7,521
Hedge Funds | Consolidated Investment Vehicles [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Securities		0		0
Investments		0
Hedge Funds | Consolidated Investment Vehicles [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Securities		0		0
Investments		0
Hedge Funds | Consolidated Investment Vehicles [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Securities		0		0
Investments		0
Proprietary Funds [Member] | Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Securities	[6]	239,404		325,936
Equity Method Investments, Fair Value Disclosure	[7]	4,965
Proprietary Funds [Member] | Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Securities	[6]	144,774		205,608
Equity Method Investments, Fair Value Disclosure	[7]	0
Proprietary Funds [Member] | Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Securities	[6]	89,719		102,021
Equity Method Investments, Fair Value Disclosure	[7]	4,965
Proprietary Funds [Member] | Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Securities	[6]	0		3
Equity Method Investments, Fair Value Disclosure	[7]	0
Proprietary Funds [Member] | Consolidated Investment Vehicles [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Securities		128,325		30,571
Proprietary Funds [Member] | Consolidated Investment Vehicles [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Securities		72,239		22,327
Proprietary Funds [Member] | Consolidated Investment Vehicles [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Securities		56,086		8,244
Proprietary Funds [Member] | Consolidated Investment Vehicles [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Securities		0		0
Real Estate Investment [Member] | Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Method Investments, Fair Value Disclosure	[2],[7]	24,513
Real Estate Investment [Member] | Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Method Investments, Fair Value Disclosure	[2],[7]	0
Real Estate Investment [Member] | Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Method Investments, Fair Value Disclosure	[2],[7]	0
Real Estate Investment [Member] | Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Method Investments, Fair Value Disclosure	[2],[7]	24,513
Real Estate Investment [Member] | Consolidated Investment Vehicles [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Method Investments, Fair Value Disclosure				2,611
Other Investments [Member] | Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Securities	[6],[8]	55,116		67,464
Cost Method Investments	[2]	7,300		7,931
Other Investments [Member] | Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Securities	[6],[8]	52,623		65,112
Other Investments [Member] | Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Securities	[6],[8]	2,482		2,331
Other Investments [Member] | Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Securities	[6],[8]	0		0
Long Term Incentive Compensation Plans [Member] | Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Securities	[9]	138,915		106,564
Equity Method Investments, Fair Value Disclosure	[7]	9,247		6,467
Cost Method Investments	[2]	7,501		7,501
Long Term Incentive Compensation Plans [Member] | Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Securities	[9]	137,996		105,568
Equity Method Investments, Fair Value Disclosure	[7]	0		0
Long Term Incentive Compensation Plans [Member] | Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Securities	[9]	0		0
Equity Method Investments, Fair Value Disclosure	[7]	6,660		6,467
Long Term Incentive Compensation Plans [Member] | Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Securities	[9]	0		0
Equity Method Investments, Fair Value Disclosure	[7]	2,587		0
Other Long-term Investments [Member] | Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Method Investments, Fair Value Disclosure	[2],[7]	42,384	[4]	9,434
Other Long-term Investments [Member] | Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Method Investments, Fair Value Disclosure	[2],[7]	0	[4]	0
Other Long-term Investments [Member] | Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Method Investments, Fair Value Disclosure	[2],[7]	0	[4]	0
Other Long-term Investments [Member] | Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Method Investments, Fair Value Disclosure	[2],[7]	644	[4]	0
Securities Investment [Member] | Proprietary Funds [Member] | Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Method Investments, Fair Value Disclosure	[7]			8,904
Securities Investment [Member] | Proprietary Funds [Member] | Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Method Investments, Fair Value Disclosure	[7]			1,329
Securities Investment [Member] | Proprietary Funds [Member] | Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Method Investments, Fair Value Disclosure	[7]			7,575
Securities Investment [Member] | Proprietary Funds [Member] | Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Method Investments, Fair Value Disclosure	[7]			0
Other Noncurrent Assets [Member] | Proprietary Funds [Member] | Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Method Investments, Fair Value Disclosure	[2],[7]			20,439
Other Noncurrent Assets [Member] | Proprietary Funds [Member] | Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Method Investments, Fair Value Disclosure	[2],[7]			0
Other Noncurrent Assets [Member] | Proprietary Funds [Member] | Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Method Investments, Fair Value Disclosure	[2],[7]			0
Other Noncurrent Assets [Member] | Proprietary Funds [Member] | Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Method Investments, Fair Value Disclosure	[2],[7]			627
Other Noncurrent Assets [Member] | Proprietary Funds [Member] | Consolidated Investment Vehicles [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Method Investments, Fair Value Disclosure				56,837
Estimate of Fair Value Measurement [Member] | Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money Market Funds, at Carrying Value	[1],[10]	0		0
Time Deposits, at Carrying Value	[1],[10]	0		0
Cash and Cash Equivalents, Fair Value Disclosure	[1],[10]	0		0
Derivative Asset, Fair Value, Amount Not Offset Against Collateral	[2],[3],[10]	0		0
Other Investments	[2],[10]	0		0
Assets, Fair Value Disclosure	[10]	50,978		51,691
Short-term Investments	[4],[10]	5,841		19,321
Business Combination, Contingent Consideration, Liability	[5],[10]	0		0
Derivative Liability, Fair Value, Amount Not Offset Against Collateral	[10]	0		0	[3]
Liabilities, Fair Value Disclosure, Recurring	[10]	0		0
Estimate of Fair Value Measurement [Member] | Consolidated Investment Vehicles [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Securities	[11]	18,195		18,144
Assets, Fair Value Disclosure	[11]	25,716
Estimate of Fair Value Measurement [Member] | Hedge Funds | Consolidated Investment Vehicles [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Securities	[11]	18,195		18,144
Investments	[11]	7,521
Estimate of Fair Value Measurement [Member] | Proprietary Funds [Member] | Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Securities	[6],[10]	4,911		18,304
Equity Method Investments, Fair Value Disclosure	[7],[10]	0
Estimate of Fair Value Measurement [Member] | Proprietary Funds [Member] | Consolidated Investment Vehicles [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Securities	[11]	0		0
Estimate of Fair Value Measurement [Member] | Real Estate Investment [Member] | Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Method Investments, Fair Value Disclosure	[2],[7],[10]	0
Estimate of Fair Value Measurement [Member] | Other Investments [Member] | Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Securities	[6],[8],[10]	11		21
Cost Method Investments	[2],[10]	3,397		3,124
Estimate of Fair Value Measurement [Member] | Other Investments [Member] | Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cost Method Investments	[2]	0		0
Estimate of Fair Value Measurement [Member] | Other Investments [Member] | Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cost Method Investments	[2]	93		0
Estimate of Fair Value Measurement [Member] | Other Investments [Member] | Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cost Method Investments	[2]	3,810		4,807
Estimate of Fair Value Measurement [Member] | Long Term Incentive Compensation Plans [Member] | Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Securities	[9],[10]	919		996
Equity Method Investments, Fair Value Disclosure	[7],[10]	0		0
Cost Method Investments	[2],[10]	0		0
Estimate of Fair Value Measurement [Member] | Long Term Incentive Compensation Plans [Member] | Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cost Method Investments	[2]	0		0
Estimate of Fair Value Measurement [Member] | Long Term Incentive Compensation Plans [Member] | Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cost Method Investments	[2]	0		0
Estimate of Fair Value Measurement [Member] | Long Term Incentive Compensation Plans [Member] | Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cost Method Investments	[2]	7,501		7,501
Estimate of Fair Value Measurement [Member] | Other Long-term Investments [Member] | Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Method Investments, Fair Value Disclosure	[2],[7],[10]	41,740	[4]	9,434
Estimate of Fair Value Measurement [Member] | Securities Investment [Member] | Proprietary Funds [Member] | Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Method Investments, Fair Value Disclosure	[7],[10]			0
Estimate of Fair Value Measurement [Member] | Other Noncurrent Assets [Member] | Proprietary Funds [Member] | Consolidated Entity Excluding Consolidated Investment Vehicles Before Eliminations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Method Investments, Fair Value Disclosure	[2],[7],[10]			19,812
Consolidated Investment Vehicles [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Securities		$ 22,997		$ 54,392

[1] Cash equivalents include highly liquid investments with original maturities of 90 days or less. Cash investments in actively traded money market funds are classified as Level 1. Cash investments in time deposits and other are measured at amortized cost, which approximates fair value because of the short time between purchase of the instrument and its expected realization, and are classified as Level 2.

[2] Amounts are included in Other non-current assets in the Consolidated Balance Sheets for each of the periods presented.

[3] See Note 12.

[4] Excludes $56,837 and $2,611 of seed capital and other investments, respectively, as of June 30, 2016, and $13,641 of seed capital investments as of March 31, 2016, which are related to Legg Mason's investments in CIVs.

[5] See Note 3 and Note 9.

[6] Trading investments of proprietary fund products and other trading investments consist of approximately 70% and 30% equity and debt securities, respectively, as of June 30, 2016, and approximately 68% and 32% equity and debt securities, respectively, as of March 31, 2016.

[7] Legg Mason's equity method investments that are investment companies record underlying investments at fair value. Therefore, fair value is measured using Legg Mason's share of the investee's underlying net income or loss, which is predominately representative of fair value adjustments in the investments held by the equity method investee.

[8] Includes $22,997 and $54,392 in noncontrolling interests associated with consolidated seed investment products as of June 30, 2016 and March 31, 2016, respectively.

[9] Primarily mutual funds where there is minimal market risk to the Company as any change in value is primarily offset by an adjustment to compensation expense and related deferred compensation liability.

[10] Reflects certain investments measured at fair value using NAV (or its equivalent) as a practical expedient. These investments have not been classified in the fair value hierarchy.

[11] Reflects certain investments measured at fair value using NAV (or its equivalent) as a practical expedient. These investments have not been classified in the fair value hierarchy.