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v3.23.1

Investments | 3 Months Ended
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Mar. 31, 2023
Schedule of Investments [Abstract] |
Investments | Investments Investments consist primarily of investments in the Company's sponsored products. The Company's investments, excluding the assets of consolidated investment products ("CIP") discussed in Note 16, at March 31, 2023 and December 31, 2022 were as follows:
(in thousands) | March 31, 2023 |  | December 31, 2022
Investment securities - fair value | $ | 80,654 |  |  | $ | 76,999 |
Equity method investments (1) | 22,755 |  |  | 11,448 |
Nonqualified retirement plan assets | 10,740 |  |  | 10,154 |
Other investments | 1,514 |  |  | 1,729 |
Total investments | $ | 115,663 |  |  | $ | 100,330 |
(1) The Company's equity method investments are valued on a three-month lag based upon the availability of financial information. On January 1, 2023, the Company made an additional investment in an existing minority interest in an affiliated manager for $11.6 million including transaction costs. Investment Securities - fair value Investment securities - fair value consist of investments in the Company's sponsored funds and separately managed accounts. The composition of the Company’s investment securities - fair value was as follows:
| March 31, 2023 |  | December 31, 2022
(in thousands) | Cost |  | Fair Value |  | Cost |  | Fair Value
Investment Securities - fair value |  |  |  |  |  |  |
Sponsored funds | $ | 69,995 |  |  | $ | 65,551 |  |  | $ | 67,472 |  |  | $ | 62,744 |
Equity securities | 13,511 |  |  | 15,103 |  |  | 13,440 |  |  | 14,255 |
Total investment securities - fair value | $ | 83,506 |  |  | $ | 80,654 |  |  | $ | 80,912 |  |  | $ | 76,999 |
For the three months ended March 31, 2023 and 2022, the Company recognized net realized gains of $1.3 million and $0.1 million on the sale of its investment securities - fair value.

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- Definition The entire disclosure for investment. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 321 -URI https://asc.fasb.org/topic&trid=75115024 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI https://asc.fasb.org/topic&trid=2196928 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 325 -URI https://asc.fasb.org/topic&trid=2197064 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI https://asc.fasb.org/topic&trid=2196965 + Details
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