The Company is an investment adviser 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 months ended January 31, 2017 and 2016 are as follows:

	Three Months Ended
	January 31,
(in thousands)		2017		2016
Management fees	$	214,749	$	201,547
Distribution fees		18,281		17,301
Service fees		28,911		27,259
Shareholder services fees		702		588
Other revenue		514		537
Total	$	263,157	$	247,232

For the three months ended January 31, 2017 and 2016, the Company had investment advisory agreements with certain sponsored funds pursuant to which the Company contractually waived $3.7 million and $3.8 million, respectively, of investment advisory fees it was otherwise entitled to receive.

Sales proceeds and net realized gains (losses) for the three months ended January 31, 2017 and 2016 from investments in sponsored funds classified as available-for-sale are as follows:

	Three Months Ended
	January 31,
(in thousands)		2017		2016
Proceeds from sales	$	3,733	$	8,084
Net realized gains (losses)		203		135

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 January 31, 2017 and 2016, expenses of $7.6 million and $6.4 million, respectively, were incurred by the Company pursuant to these arrangements.

Included in management fees and other receivables at January 31, 2017 and October 31, 2016 are receivables due from sponsored funds of $96.6 million and $88.7 million, respectively and payables to sponsored funds of $2.3 million and $1.6 million, respectively.

On December 23, 2015, EVMC, a wholly owned subsidiary of the Company, loaned $5.0 million to Hexavest under a term loan agreement to seed a new investment strategy. The loan renews automatically for an additional one-year period on each anniversary date unless written termination notice is provided by EVMC. The loan earns interest equal to the one-year Canadian Dollar Offered Rate plus 200 basis points and is payable quarterly in arrears. Hexavest may prepay the loan in whole or in part at any time without penalty. During the three months ended January 31, 2017 and 2016, the Company recorded $40,000 and $16,000, respectively, of interest income related to the loan in gains (losses) and other investment income, net, on the Company's Consolidated Statements of Income. As of January 31, 2017 and October 31, 2016, the Company has included $14,000 and $13,000, respectively, of interest receivable on the loan within other assets on the Company's Consolidated Balance Sheets.

The Company has an agreement with Hexavest whereby the Company compensates Hexavest for sub-advisory services and Hexavest reimburses the Company for a portion of fund subsidies related to certain investment companies for which the Company is the investment adviser. During the three months ended January 31, 2017 and 2016, the Company paid Hexavest $32,000 and $80,000, respectively, in sub-advisory fees, and the Company received from Hexavest $0.1 million and $0.1 million, respectively, for reimbursement of fund subsidies. The net amount due to Hexavest under this arrangement included in other liabilities on the Company's Consolidated Balance Sheets at January 31, 2017 and October 31, 2016 was $59,000 and $13,000, respectively. In addition, the Company has an agreement with Hexavest whereby the Company is reimbursed for costs related to the sale of certain institutional separately managed accounts. During each of the three months ended January 31, 2017 and 2016, the Company earned $0.5 million under this arrangement. The net amount due from Hexavest under this arrangement included in other assets on the Company's Consolidated Balance Sheets at January 31, 2017 and October 31, 2016 was $0.2 million and $0.3 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 totaled $10.1 million and $12.1 million at January 31, 2017 and October 31, 2016, respectively.