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Investments (Tables)
 6 Months Ended
Jun. 30, 2016
Investments, Debt and Equity Securities [Abstract]  
Available-For-Sale Securities
Available-for-sale securities were as follows:
 
 
June 30, 2016
 
December 31, 2015
 
 
 
 
Gross Unrealized
 
Estimated
Fair
 
 
 
Gross Unrealized
 
Estimated
Fair
(in thousands)
 
Cost
 
Gains
 
(Losses)
 
Value
 
Cost
 
Gains
 
(Losses)
 
Value
Equity mutual funds
 
$
31,968

 
$
491

 
$
(395
)
 
$
32,064

 
$
32,357

 
$
342

 
$
(2,416
)
 
$
30,283

Fixed-income mutual funds
 
104,003

 
132

 
(1,786
)
 
102,349

 
115,396

 
109

 
(4,040
)
 
111,465

Total fluctuating-value mutual funds
 
$
135,971

 
$
623

 
$
(2,181
)
 
$
134,413

 
$
147,753

 
$
451

 
$
(6,456
)
 
$
141,748
Gains and losses on investments
The following table presents gains and losses recognized in (Loss) gain on securities, net on the Consolidated Statements of Income in connection with Federated's investments as well as economic derivatives held by certain consolidated Federated Funds:
 
 
Three Months Ended
 
Six Months Ended
 
 
June 30,
 
June 30,
(in thousands)
 
2016

 
2015

 
2016

 
2015

Unrealized (loss) gain
 
 
 
 
 
 
 
 
Trading securities
 
$
1,581

 
$
(832
)
 
$
3,639

 
$
(376
)
Derivatives1
 
(410
)
 
58

 
(303
)
 
(100
)
Realized gains2
 
 
 
 
 
 
 
 
Available-for-sale securities3
 
26

 
0

 
26

 
0

Trading securities
 
460

 
326

 
672

 
516

Derivatives1
 
149

 
61

 
555

 
296

Realized losses2
 
 
 
 
 
 
 
 
Available-for-sale securities3
 
(1,628
)
 
0

 
(1,645
)
 
0

Trading securities
 
(481
)
 
(417
)
 
(1,775
)
 
(1,031
)
Derivatives1
 
(266
)
 
(176
)
 
(647
)
 
(539
)
(Loss) gain on securities, net4
 
$
(569
)
 
$
(980
)
 
$
522

 
$
(1,234
)
1 
Amounts related to the settlement of economic derivatives held by certain consolidated Federated Funds.
2 
Realized gains and losses are computed on a specific-identification basis.
3
Proceeds from redemptions of available-for-sale securities were $0.1 million and $0.2 million for the three and six months ended June 30, 2016.
4
Amounts related to consolidated entities, primarily Federated Funds, totaled $0.9 million and $1.9 million for the three and six months ended June 30, 2016, respectively, and $(0.8) million and $(1.1) million for the three and six months ended June 30, 2015, respectively.