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Investments | 12 Months Ended
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Dec. 31, 2013
Investments Schedule [Abstract] |
Investments | 4. Investments The Company’s investments, excluding the assets of consolidated sponsored investment products discussed in Note 20, at December 31, 2013 and 2012 are as follows:
|  | December 31, |
|  | 2013 |  |  | 2012 |
($ in thousands) |  |  |  |  |  |
Marketable securities |  | $ | 28,968 |  |  | $ | 15,048 |
Equity method investments |  |  | 4,070 |  |  |  | 415 |
Nonqualified retirement plan assets |  |  | 4,220 |  |  |  | 2,970 |
Total investments |  | $ | 37,258 |  |  | $ | 18,433 |
Marketable Securities The Company’s marketable securities consist of both trading (including securities held by a broker-dealer affiliate) and available-for-sale securities. The composition of the Company’s marketable securities is summarized as follows:
December 31, 2013 |
|  | Cost |  |  | Unrealized Loss |  |  | Unrealized Gain |  |  | Fair Value |
($ in thousands) |  |  |  |  |  |  |  |  |  |  |  |
Trading: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sponsored mutual funds and variable insurance funds |  | $ | 16,079 |  |  | $ | (704 | ) |  | $ | 2,529 |  |  | $ | 17,904 |
Equity securities |  |  | 7,043 |  |  |  | — |  |  |  | 1,336 |  |  |  | 8,379 |
Available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sponsored closed-end funds |  |  | 2,815 |  |  |  | (145 | ) |  |  | 15 |  |  |  | 2,685 |
Total marketable securities |  | $ | 25,937 |  |  | $ | (849 | ) |  | $ | 3,880 |  |  | $ | 28,968 |
December 31, 2012 |
|  | Cost |  |  | Unrealized Loss |  |  | Unrealized Gain |  |  | Fair Value |
($ in thousands) |  |  |  |  |  |  |  |  |  |  |  |
Trading: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sponsored mutual funds and variable insurance funds |  | $ | 7,312 |  |  | $ | (689 | ) |  | $ | 1,390 |  |  | $ | 8,013 |
Equity securities |  |  | 3,739 |  |  |  | — |  |  |  | 640 |  |  |  | 4,379 |
Available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sponsored closed-end funds |  |  | 2,619 |  |  |  | (37 | ) |  |  | 74 |  |  |  | 2,656 |
Total marketable securities |  | $ | 13,670 |  |  | $ | (726 | ) |  | $ | 2,104 |  |  | $ | 15,048 |
For the years ended December 31, 2013 and 2012, the Company recognized a realized gain of $1.0 million and $0.4 million, respectively, on trading securities. For the year ended December 31, 2011, the Company recognized a realized loss of less than $(0.1) million on trading securities. Equity Method Investments On April 9, 2013, the Company acquired a 24% noncontrolling Euro-denominated equity interest in Kleinwort Benson Investors International, Ltd. (“KBII”), a subsidiary of Kleinwort Benson Investors (Dublin) (“KBID”) for €2.6 million or $3.4 million. KBII is a U.S. registered investment adviser that provides specialized equity strategies. As of the date of acquisition, the Company allocated $2.5 million of this investment to goodwill, $0.6 million to definite-lived intangible assets that are being amortized over 7 years and $0.3 million allocated to the remaining assets and liabilities of KBII. In conjunction with this investment, the Company entered into a put and call option with KBID. This investment is translated into U.S. dollars at current exchange rates as of the end of each accounting period. Net income or loss of the noncontrolled affiliate is translated at average exchange rates in effect during the accounting period. Net translation exchange gains and losses are excluded from income and recorded in accumulated other comprehensive income. Nonqualified Retirement Plan Assets The Excess Incentive Plan allows certain employees to voluntarily defer compensation. The Company holds the Excess Incentive Plan assets in a rabbi trust, which is subject to the claims of the Company’s creditors in the event of the Company’s bankruptcy or insolvency. Assets held in trust are included in investments and are carried at fair value in accordance with ASC 320; the associated obligations to participants are included in other liabilities in the Company’s Consolidated Balance Sheets.

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- Definition The entire disclosure for investments, including all tables. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Article 6 -Section 10 -Paragraph (c) -Subparagraph (1) + Details
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