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TRADING AND AVAILABLE-FOR-SALE SECURITIES AT FAIR VALUE (Tables) | 12 Months Ended
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Mar. 31, 2021
TRADING AND AVAILABLE-FOR-SALE SECURITIES AT FAIR VALUE |
Schedule of trading securities |
|  | March 31, 2021 |  |  | March 31, 2020 |
Corporate debt |  | $ | 334,763 |  |  | $ | 58,519 |
Non-US sovereign debt |  |  | 333,619 |  |  |  | 28,495 |
Corporate equity |  |  | 47,340 |  |  |  | 69,530 |
US sovereign debt |  |  | 10,828 |  |  |  | - |
Exchange traded notes |  |  | 9,638 |  |  |  | - |
Total trading securities |  | $ | 736,188 |  |  | $ | 156,544 |
Certificate of deposit |  | $ | - |  |  | $ | 5,076 |
Mutual investment funds |  |  | - |  |  |  | 672 |
Debt securities |  |  | - |  |  |  | 405 |
Preferred shares |  |  | - |  |  |  | 284 |
Equity securities |  |  | 1 |  |  |  | 1 |
Total available-for-sale securities, at fair value |  | $ | 1 |  |  | $ | 6,438 |
Schedule of Significant unobservable inputs relevant to determination of fair value |
|  |  |  |  |  |  |  | Fair Value Measurements at March 31, 2021 using |
|  | Weighted average |  |  |  |  |  | Quoted Prices in Active Markets for Identical Assets |  |  | Significant Other Observable Inputs |  |  | Significant unobservable units |
|  | interest rate |  |  | Total |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
Corporate debt |  |  | 9.22 | % |  | $ | 334,763 |  |  | $ | 334,403 |  |  | $ | - |  |  | $ | 360 |
Non-U.S. sovereign debt |  |  | 8.06 | % |  |  | 333,619 |  |  |  | 333,619 |  |  |  | - |  |  |  | - |
Corporate equity |  |  | - |  |  |  | 47,340 |  |  |  | 28,630 |  |  |  | 1 |  |  |  | 18,709 |
U.S. sovereign debt |  |  | 1.68 | % |  |  | 10,828 |  |  |  | 10,828 |  |  |  | - |  |  |  | - |
Exchange traded notes |  |  | - |  |  |  | 9,638 |  |  |  | 9,638 |  |  |  | - |  |  |  | - |
Total trading securities |  |  |  |  |  | $ | 736,188 |  |  | $ | 717,118 |  |  | $ | 1 |  |  | $ | 19,069 |
Equity securities |  |  | - |  |  | $ | 1 |  |  | $ | - |  |  | $ | - |  |  | $ | 1 |
Total available-for-sale securities, at fair value |  |  |  |  |  | $ | 1 |  |  | $ | - |  |  | $ | - |  |  | $ | 1 |
|  |  |  |  |  |  |  | Fair Value Measurements at March 31, 2020 using |
|  | Weighted average |  |  |  |  |  | Quoted Prices in Active Markets for Identical Assets |  |  | Significant Other Observable Inputs |  |  | Significant unobservable units |
|  | interest rate |  |  | Total |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
Corporate equity |  |  | - |  |  | $ | 69,530 |  |  | $ | 58,271 |  |  | $ | - |  |  | $ | 11,259 |
Corporate debt |  |  | 9.51 | % |  |  | 58,519 |  |  |  | 58,519 |  |  |  | - |  |  |  | - |
Non-U.S. sovereign debt |  |  | 5.22 | % |  |  | 28,495 |  |  |  | 28,495 |  |  |  | - |  |  |  | - |
Total trading securities |  |  |  |  |  | $ | 156,544 |  |  | $ | 145,285 |  |  | $ | - |  |  | $ | 11,259 |
Equity securities |  |  | - |  |  | $ | 1 |  |  | $ | - |  |  | $ | - |  |  | $ | 1 |
Debt securities |  |  | 6.48 | % |  |  | 405 |  |  |  | - |  |  |  | 405 |  |  |  | - |
Certificate of deposit |  |  | 0.66 | % |  |  | 5,076 |  |  |  | - |  |  |  | 5,076 |  |  |  | - |
Mutual investment funds |  |  | - |  |  |  | 672 |  |  |  | 672 |  |  |  | - |  |  |  | - |
Preferred shares |  |  | - |  |  |  | 284 |  |  |  | - |  |  |  | 284 |  |  |  | - |
Total available-for-sale securities, at fair value |  |  |  |  |  | $ | 6,438 |  |  | $ | 672 |  |  | $ | 5,765 |  |  | $ | 1 |
Schedule of investments |
Type | Valuation Technique | FV as of March 31, 2021 | FV as of March 31, 2020 | Significant Unobservable Inputs | %
Corporate equity | DCF | $18,408 | $11,259 | Discount rate | 10.4%
|  |  |  | Estimated number of years | 9 years
Corporate equity | DCF | $301 | - | Discount rate | 19.4%
|  |  |  | Estimated number of years | 9 years
Corporate debt | DCF | $360 | - | Discount rate | 16.5%
|  |  |  | Estimated number of years | 9 years
Fair value of available for sale securities |
|  | Trading securities |  |  | Available-for-sale securities |
Balance as of March 31, 2019 |  | $ | 504 |  |  | $ | 2 |
Sale of investments that use Level 3 inputs |  |  | (497 | ) |  |  | - |
Purchase of investments that use Level 3 inputs |  |  | 10,430 |  |  |  | - |
Revaluation of investments that use Level 3 inputs |  |  | 829 |  |  |  | - |
Foreign currency translation |  |  | (7 | ) |  |  | (1 | )
Balance as of March 31, 20 20 |  | $ | 11,259 |  |  | $ | 1 |
Sale of investments that use Level 3 inputs |  |  | (2 | ) |  |  | - |
Purchase of investments that use Level 3 inputs |  |  | 834 |  |  |  | - |
Revaluation of investments that use Level 3 inputs |  |  | 6,978 |  |  |  | - |
Foreign currency translation |  |  | - |  |  |  | - |
Balance as of March 31, 202 1 |  | $ | 19,069 |  |  | $ | 1 |
Schedule of accumulated and comprehensive losses |
|  | March 31, 2021 |
|  | Assets measured at amortized cost |  |  | Unrealized loss accumulated in other comprehensive income/(loss) |  |  | Assets measured at fair value |
Equity securities |  |  | 1 |  |  |  | - |  |  |  | 1 |
Balance as of March 31, 2021 |  |  | 1 |  |  |  | - |  |  |  | 1 |
|  | March 31, 2020 |
|  | Assets measured at amortized cost |  |  | Unrealized loss accumulated in other comprehensive income/(loss) |  |  | Assets measured at fair value |
Certificate of deposit |  | $ | 5,050 |  |  | $ | 26 |  |  | $ | 5,076 |
Mutual investment funds |  |  | 696 |  |  |  | (24 | ) |  |  | 672 |
Debt securities |  |  | 456 |  |  |  | (51 | ) |  |  | 405 |
Preferred shares |  |  | 306 |  |  |  | (22 | ) |  |  | 284 |
Equity securities |  |  | 1 |  |  |  | - |  |  |  | 1 |
Balance as of March 31, 2021 |  | $ | 6,509 |  |  | $ | (71 | ) |  | $ | 6,438 |

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