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RELATED PARTY TRANSACTIONS | 12 Months Ended
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Jun. 30, 2018
Related Party Transactions [Abstract] |
Related Party Transactions Disclosure [Text Block] | NOTE 1 6. RELATED PARTY TRANSACTIONS On June 30, 2018, and 2017, the Company had $9.6 million and $11.1 million, respectively, at fair value invested in USGIF and offshore funds the Company advised. These amounts were included in the Consolidated Balance Sheet as “trading securities” and “available-for-sale securities” in fiscal years 2018 and 2017. The Company recorded $131,000 and $110,000 in income from dividends and capital gain distributions and $10,000 and $15,000 in net recognized gains (losses) on its investments in the Funds and offshore clients for fiscal years 2018 and 2017, respectively. The offshore clients liquidated during fiscal 2018. In addition, the Company had $283,000 at June 30, 2018, invested in a fund advised by Galileo accounted for under the equity method of accounting. During fiscal 2018, the Company was also invested in another fund advised by Galileo accounted for under the equity method of accounting. This investment was no longer held at June 30, 2018. The Company recorded income from equity method investments of $1.6 million in fiscal 2018. See further discussion of these investments in Note 3. The Company earned advisory and administrative services fees, as applicable, from the various funds for which it and its subsidiaries act as investment adviser, as disclosed in Note 4. Receivables include amounts due from the funds for those fees and out-of-pocket expenses, net of amounts payable to the funds for expense reimbursements. As of June 30, 2018, and 2017, the Company had $419,000 and $396,000, respectively, of receivables from mutual funds included in the Consolidated Balance Sheets within “receivables.” As discussed in Note 3, the Company holds an investment in HIVE valued at $5.6 million as of June 30, 2018. Frank Holmes, a director and Chief Executive Officer of the Company, is the non-executive chairman of HIVE, for which he received director fees from HIVE during fiscal 2018. Mr. Holmes held shares and options of HIVE at June 30, 2018. Effective August 31, 2018, upon the retirement of HIVE’s CEO and until a new CEO is hired, Mr. Holmes became Interim Executive Chairman of HIVE. Mr. Holmes was a director of each offshore fund until the liquidation of the offshore funds in fiscal year 2018. The Company had a corporate investment, classified as trading, in one of the offshore funds valued at $415,000 at June 30, 2017. Mr. Holmes is a director of Meridian Fund Managers Ltd., which served as the manager of the offshore funds. Mr. Holmes is also a director of a private company in which the Company holds common stock and warrants classified as other investments and valued at $1.5 million at June 30, 2018, and 2017, and in which he holds nontransferable stock options. The Company received $126,000 and $105,000 in dividend income from its investments in this company in fiscal years 2018 and 2017, respectively.

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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI http://asc.fasb.org/topic&trid=2122745 + Details
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