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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:    
Net income $ 36,234 $ 40,806
Non-cash items included in net income:    
Income tax expense/(benefit) 25,218 (4,194)
Depreciation and amortization 443 393
Stock-based compensation 4,952 4,045
Deferred rent (70) 1,286
Accretion to interest income and other 6 (79)
Changes in operating assets and liabilities:    
Accounts receivable (10,318) 2,546
Other assets (2,279) (1,230)
Deferred acquisition contingent payment 521  
Fund management and administration payable 3,219 (473)
Compensation and benefits payable 7,290 (9,887)
Accounts payable and other liabilities 316 (553)
Net cash provided by operating activities 65,532 32,660
Cash flows from investing activities:    
Purchase of fixed assets (364) (3,741)
Purchase of investments (8,449) (1,237)
Cash acquired on acquisition   1,349
Proceeds from the redemption of investments 1,187 803
Net cash used in investing activities (7,626) (2,826)
Cash flows from financing activities:    
Dividends paid (21,794)  
Shares repurchased (15,264) (5,426)
Proceeds from exercise of stock options 3,293 116
Net cash used in financing activities (33,765) (5,310)
(Decrease)/increase in cash flow due to changes in foreign exchange rate (153) 7
Net increase in cash and cash equivalents 23,988 24,531
Cash and cash equivalents-beginning of period 165,284 104,316
Cash and cash equivalents-end of period 189,272 128,847
Supplemental disclosure of cash flow information:    
Cash paid for taxes $ 356 $ 21