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Consolidated Funds

9 Months Ended

Jul. 31, 2013

Consolidated Funds Disclosure [Abstract]

4. Consolidated Funds

Underlying investments held by consolidated sponsored funds were included in investments on the Company's Consolidated Balance Sheets and classified as investment securities, trading, at July 31, 2013 and October 31, 2012. Net investment income related to consolidated sponsored funds was included in (losses) 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 are 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 are included on the Company's Consolidated Balance Sheets at July 31, 2013 and October 31, 2012 as well as the Company's net interest in these funds:

(in thousands)		July 31, 2013		October 31, 2012
Investments		$	181,275	$	157,405
Other assets			6,491		5,594
Other liabilities			(19,051)		(16,928)
Redeemable non-controlling interests			(35,304)		(20,072)
Net interest in consolidated sponsored funds⁽¹⁾		$	133,411	$	125,999
⁽¹⁾	Excludes the Company's investment in its consolidated CLO entity, which is discussed in Note 9.

In both the nine months ended July 31, 2013 and 2012, the Company deconsolidated a total of five sponsored funds.