Derivative Financial Instruments

3 Months Ended

Jan. 31, 2013

Derivative Financial Instruments Disclosure [Abstract]

Derivative Financial Instruments

7. Derivative Financial Instruments

Derivative financial instruments designated as cash flow hedges

During the three months ended January 31, 2013 and 2012, the Company reclassified into interest expense $0.1million of the loss on the Treasury lock transaction in connection with the Company's issuance of ten-year senior notes in October 2007. At January 31, 2013, the remaining unamortized loss on this transaction was $2.1 million. During the next twelve months, the Company expects to reclassify approximately $0.4 million of the loss on the Treasury lock transaction into interest expense.

Other derivative financial instruments not designated for hedge accounting

The Company has entered into a series of foreign exchange contracts, stock index futures contracts and commodity futures contracts to hedge currency risk exposure and market risk associated with its investments in separately managed accounts and consolidated sponsored funds seeded for new product development purposes.

At January 31, 2013, the Company had 60foreign exchange contracts outstanding with six counterparties with an aggregate notional value of $54.0 million;2,167 stock index futures contracts outstanding with one counterparty with an aggregate notional value of $137.2 million; and246commodity futures contracts outstanding with one counterparty with an aggregate notional value of $14.6 million.

The following tables present the fair value of derivative instruments not designated as hedging instrumentsas of January 31, 2013 and October 31, 2012:

January 31, 2013
	Assets			Liabilities
(in thousands)	Balance Sheet Location		Fair Value	Balance Sheet Location		Fair Value
Foreign exchange contracts	Other assets	$	998	Other liabilities	$	654
Stock index futures contracts	Other assets		72	Other liabilities		7,252
Commodity futures contracts	Other assets		68	Other liabilities		586
Total		$	1,138		$	8,492

October 31, 2012
	Assets			Liabilities
(in thousands)	Balance Sheet Location		Fair Value	Balance Sheet Location		Fair Value
Foreign exchange contracts	Other assets	$	226	Other liabilities	$	300
Stock index futures contracts	Other assets		1,505	Other liabilities		367
Commodity futures contracts	Other assets		498	Other liabilities		121
Total		$	2,229		$	788

The following is a summary of the net gains (losses) recognized in income for the three monthsendedJanuary 31, 2013 and 2012:

	Income Statement		Three Months Ended January 31,
(in thousands)	Location		2013		2012
Foreign exchange contracts	Gains and other investment income, net	$	346	$	233
Stock index futures contracts	Gains and other investment income, net		(10,030)		(4,145)
Commodity futures contracts	Gains and other investment income, net		(349)		494
Total		$	(10,033)	$	(3,418)