TRADING AND AVAILABLE-FOR-SALE SECURITIES AT FAIR VALUE (Tables)
|
12 Months Ended |
Mar. 31, 2021 |
|---|
| TRADING AND AVAILABLE-FOR-SALE SECURITIES AT FAIR VALUE |
|
| Schedule of trading securities |
|
|
March 31, 2021 |
|
|
March 31, 2020 |
|
|
|
|
|
|
|
|
Corporate debt |
|
$ |
334,763 |
|
|
$ |
58,519 |
|
Non-US sovereign debt |
|
|
333,619 |
|
|
|
28,495 |
|
Corporate equity |
|
|
47,340 |
|
|
|
69,530 |
|
US sovereign debt |
|
|
10,828 |
|
|
|
- |
|
Exchange traded notes |
|
|
9,638 |
|
|
|
- |
|
Total trading securities |
|
$ |
736,188 |
|
|
$ |
156,544 |
|
|
|
|
|
|
|
|
|
|
Certificate of deposit |
|
$ |
- |
|
|
$ |
5,076 |
|
Mutual investment funds |
|
|
- |
|
|
|
672 |
|
Debt securities |
|
|
- |
|
|
|
405 |
|
Preferred shares |
|
|
- |
|
|
|
284 |
|
Equity securities |
|
|
1 |
|
|
|
1 |
|
Total available-for-sale securities, at fair value |
|
$ |
1 |
|
|
$ |
6,438 |
|
|
| Schedule of Significant unobservable inputs relevant to determination of fair value |
|
|
|
|
|
|
|
|
Fair Value Measurements at
March 31, 2021 using
|
|
|
|
Weighted
average
|
|
|
|
|
|
Quoted Prices in Active Markets for Identical Assets |
|
|
Significant Other Observable Inputs |
|
|
Significant unobservable
units
|
|
|
|
interest rate |
|
|
Total |
|
|
(Level 1) |
|
|
(Level 2) |
|
|
(Level 3) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate debt |
|
|
9.22 |
% |
|
$ |
334,763 |
|
|
$ |
334,403 |
|
|
$ |
- |
|
|
$ |
360 |
|
Non-U.S. sovereign debt |
|
|
8.06 |
% |
|
|
333,619 |
|
|
|
333,619 |
|
|
|
- |
|
|
|
- |
|
Corporate equity |
|
|
- |
|
|
|
47,340 |
|
|
|
28,630 |
|
|
|
1 |
|
|
|
18,709 |
|
U.S. sovereign debt |
|
|
1.68 |
% |
|
|
10,828 |
|
|
|
10,828 |
|
|
|
- |
|
|
|
- |
|
Exchange traded notes |
|
|
- |
|
|
|
9,638 |
|
|
|
9,638 |
|
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total trading securities |
|
|
|
|
|
$ |
736,188 |
|
|
$ |
717,118 |
|
|
$ |
1 |
|
|
$ |
19,069 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity securities |
|
|
- |
|
|
$ |
1 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
1 |
|
Total available-for-sale securities, at fair value |
|
|
|
|
|
$ |
1 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
1 |
|
|
|
|
|
|
|
|
|
Fair Value Measurements at
March 31, 2020 using
|
|
|
|
Weighted
average
|
|
|
|
|
|
Quoted Prices in Active Markets for Identical Assets |
|
|
Significant Other Observable Inputs |
|
|
Significant unobservable
units
|
|
|
|
interest rate |
|
|
Total |
|
|
(Level 1) |
|
|
(Level 2) |
|
|
(Level 3) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate equity |
|
|
- |
|
|
$ |
69,530 |
|
|
$ |
58,271 |
|
|
$ |
- |
|
|
$ |
11,259 |
|
Corporate debt |
|
|
9.51 |
% |
|
|
58,519 |
|
|
|
58,519 |
|
|
|
- |
|
|
|
- |
|
Non-U.S. sovereign debt |
|
|
5.22 |
% |
|
|
28,495 |
|
|
|
28,495 |
|
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total trading securities |
|
|
|
|
|
$ |
156,544 |
|
|
$ |
145,285 |
|
|
$ |
- |
|
|
$ |
11,259 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity securities |
|
|
- |
|
|
$ |
1 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
1 |
|
Debt securities |
|
|
6.48 |
% |
|
|
405 |
|
|
|
- |
|
|
|
405 |
|
|
|
- |
|
Certificate of deposit |
|
|
0.66 |
% |
|
|
5,076 |
|
|
|
- |
|
|
|
5,076 |
|
|
|
- |
|
Mutual investment funds |
|
|
- |
|
|
|
672 |
|
|
|
672 |
|
|
|
- |
|
|
|
- |
|
Preferred shares |
|
|
- |
|
|
|
284 |
|
|
|
- |
|
|
|
284 |
|
|
|
- |
|
Total available-for-sale securities, at fair value |
|
|
|
|
|
$ |
6,438 |
|
|
$ |
672 |
|
|
$ |
5,765 |
|
|
$ |
1 |
|
|
| Schedule of investments |
Type |
Valuation
Technique
|
FV as of March 31,
2021
|
FV as of March 31,
2020
|
Significant Unobservable Inputs |
% |
|
|
|
|
|
|
Corporate equity |
DCF |
$18,408 |
$11,259 |
Discount rate |
10.4% |
|
|
|
|
Estimated number of years |
9 years |
Corporate equity |
DCF |
$301 |
- |
Discount rate |
19.4% |
|
|
|
|
Estimated number of years |
9 years |
Corporate debt |
DCF |
$360 |
- |
Discount rate |
16.5% |
|
|
|
|
Estimated number of years |
9 years |
|
| Fair value of available for sale securities |
|
|
Trading
securities
|
|
|
Available-for-sale securities |
|
Balance as of March 31, 2019 |
|
$ |
504 |
|
|
$ |
2 |
|
|
|
|
|
|
|
|
|
|
Sale of investments that use Level 3 inputs |
|
|
(497 |
) |
|
|
- |
|
Purchase of investments that use Level 3 inputs |
|
|
10,430 |
|
|
|
- |
|
Revaluation of investments that use Level 3 inputs |
|
|
829 |
|
|
|
- |
|
Foreign currency translation |
|
|
(7 |
) |
|
|
(1 |
) |
Balance as of March 31, 2020 |
|
$ |
11,259 |
|
|
$ |
1 |
|
|
|
|
|
|
|
|
|
|
Sale of investments that use Level 3 inputs |
|
|
(2 |
) |
|
|
- |
|
Purchase of investments that use Level 3 inputs |
|
|
834 |
|
|
|
- |
|
Revaluation of investments that use Level 3 inputs |
|
|
6,978 |
|
|
|
- |
|
Foreign currency translation |
|
|
- |
|
|
|
- |
|
Balance as of March 31, 2021 |
|
$ |
19,069 |
|
|
$ |
1 |
|
|
| Schedule of accumulated and comprehensive losses |
|
|
March 31, 2021 |
|
|
|
Assets
measured at amortized cost
|
|
|
Unrealized loss accumulated in other
comprehensive income/(loss)
|
|
|
Assets
measured
at fair value
|
|
|
|
|
|
|
|
|
|
|
|
Equity securities |
|
|
1 |
|
|
|
- |
|
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance as of March 31, 2021 |
|
|
1 |
|
|
|
- |
|
|
|
1 |
|
|
|
March 31, 2020 |
|
|
|
Assets
measured at amortized cost
|
|
|
Unrealized loss accumulated in other
comprehensive income/(loss)
|
|
|
Assets
measured
at fair value
|
|
|
|
|
|
|
|
|
|
|
|
Certificate of deposit |
|
$ |
5,050 |
|
|
$ |
26 |
|
|
$ |
5,076 |
|
Mutual investment funds |
|
|
696 |
|
|
|
(24 |
) |
|
|
672 |
|
Debt securities |
|
|
456 |
|
|
|
(51 |
) |
|
|
405 |
|
Preferred shares |
|
|
306 |
|
|
|
(22 |
) |
|
|
284 |
|
Equity securities |
|
|
1 |
|
|
|
- |
|
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance as of March 31, 2021 |
|
$ |
6,509 |
|
|
$ |
(71 |
) |
|
$ |
6,438 |
|
|