The Company is an investment advisor to, and has administrative agreements with, certain sponsored funds, privately offered equity funds and closed-end funds for which certain employees are officers and/or directors. Revenues for services provided or related to these funds for the three and six months ended April 30, 2014 and 2013 are as follows:

		Three Months Ended				Six Months Ended
		April 30,				April 30,
(in thousands)		2014		2013		2014		2013
Investment advisory and administrative fees	$	219,650	$	201,790	$	444,896	$	393,982
Distribution fees		19,058		19,845		38,867		39,918
Service fees		30,829		31,132		63,120		62,262
Shareholder services fees		634		548		1,239		1,088
Other revenue		352		268		732		403
Total	$	270,523	$	253,583	$	548,854	$	497,653

For the three months ended April 30, 2014 and 2013, the Company had investment advisory agreements with certain sponsored funds pursuant to which the Company contractually waived $2.8 million and $1.6 million of investment advisory fees it was otherwise entitled to receive, respectively. For the six months ended April 30, 2014 and 2013, the Company waived $5.5 million and $4.4 million, respectively, of investment advisory fees it was otherwise entitled to receive.

Sales proceeds and net realized gains from investments in sponsored funds classified as available-for-sale for the three and six months ended April 30, 2014 and 2013 are as follows:

		Three Months Ended				Six Months Ended
		April 30,				April 30,
(in thousands)		2014		2013		2014		2013
Proceeds from sales	$	48,307	$	18,474	$	63,851	$	39,290
Net realized gains (losses)		(399)		342		(336)		5,251

The Company bears the non-advisory expenses of certain sponsored funds for which it earns an all-in management fee and provides subsidies to startup and other smaller sponsored funds to enhance their competitiveness. For the three months ended April 30, 2014 and 2013, expenses of $5.0 million and $5.6 million, respectively, were incurred by the Company pursuant to these arrangements. For the six months ended April 30, 2014 and 2013, expenses of $10.3 million and $10.7 million, respectively, were incurred by the Company pursuant to these arrangements.

Included in investment advisory fees and other receivables at April 30, 2014 and October 31, 2013 are receivables due from sponsored funds of $92.8 million and $94.0 million, respectively.

The Company has established an Employee Loan Program under which a program maximum of $20.0 million is available for loans to officers (other than executive officers) and other key employees of the Company for purposes of financing the exercise of employee stock options. Loans outstanding under this program, which are full recourse in nature, are reflected as notes receivable from stock option exercises in shareholders' equity and amounted to $7.5 million and $7.1 million at April 30, 2014 and October 31, 2013, respectively.