XML 86 R12.htm IDEA: XBRL DOCUMENT

Consolidated Sponsored Funds

12 Months Ended

Oct. 31, 2012

Consolidated Sponsored Funds Disclosure [Abstract]

4. Consolidated Sponsored Funds

The Company consolidates sponsored funds in which it holds a controlling financial interest. All investments held by consolidated sponsored funds were included in investments on the Company's Consolidated Balance Sheets and classified as investment securities, trading, at October 31, 2012 and 2011. Net investment income related to these funds was included in gains and other investment income, net, on the Company's Consolidated Statements of Income for all periods presented. Net investment income was partially offset by amounts attributable to non-controlling interest holders, which were recorded in net income attributable to non-controlling and other beneficial interest holders in the Company's Consolidated Statements of Income for all periods presented.

The following table sets forth the balances related to consolidated sponsored funds that were included on the Company's Consolidated Balance Sheets at October 31, 2012 and 2011 as well as the Company's net interest in these funds:

(in thousands)			2012		2011
Investments		$	157,405	$	143,517
Other assets			5,594		13,465
Other liabilities			(16,928)		(10,764)
Redeemable non-controlling interests			(20,072)		(25,569)
Net interest in consolidated sponsored funds⁽¹⁾		$	125,999	$	120,649

⁽¹⁾	Excludes the Company's investment in its consolidated CLO entity, which is discussed in Note 9.