The following is a summary of investments at April 30, 2017 and October 31, 2016:

(in thousands)		April 30, 2017		October 31, 2016
Investment securities, trading:
Short-term debt securities	$	66,591	$	85,822
Consolidated sponsored funds		424,440		248,036
Separately managed accounts		88,408		79,683
Total investment securities, trading		579,439		413,541
Investment securities, available-for-sale		10,712		13,312
Investments in non-consolidated CLO entities		2,928		3,837
Investments in equity method investees		137,911		139,929
Investments, other		19,131		19,154
Total investments	$	750,121	$	589,773

The following is a summary of the fair value of investments classified as trading at April 30, 2017 and October 31, 2016:

(in thousands)		April 30, 2017		October 31, 2016
Short-term debt securities	$	66,591	$	85,822
Other debt securities		299,248		191,688
Equity securities		213,600		136,031
Total investment securities, trading	$	579,439	$	413,541

The Company recognized gains (losses) related to trading securities still held at the reporting date of $6.3 million and $17.6 million for the three months ended April 30, 2017 and 2016, respectively, and $8.6 million and $6.0 million for the six months ended April 30, 2017 and 2016, respectively, within net gains (losses) and other investment income in the Company's Consolidated Statements of Income.

The following is a summary of the gross unrealized gains and losses included in accumulated other comprehensive income (loss) related to securities classified as available-for-sale at April 30, 2017 and October 31, 2016:

April 30, 2017				Gross Unrealized
(in thousands)	Cost		Gains		Losses		Fair Value
Investment securities, available-for-sale	$	4,861	$	5,859	$	(8)	$	10,712

October 31, 2016				Gross Unrealized
(in thousands)	Cost		Gains		Losses		Fair Value
Investment securities, available-for-sale	$	8,528	$	4,798	$	(14)	$	13,312

Net unrealized holding gains (losses) on investment securities classified as available-for-sale included in other comprehensive income (loss) on the Company's Consolidated Statements of Comprehensive Income were $0.5 million and $1.1 million for the three months ended April 30, 2017 and 2016, respectively, and $1.1 million and $(23,000) for the six months ended April 30, 2017 and 2016, respectively.

The Company did not recognize any impairment losses on investment securities classified as available-for-sale during three and six months ended April 30, 2017 or 2016.

The aggregate fair value of available-for-sale investments in an unrealized loss position at April 30, 2017 was $0.2 million; unrealized losses related to these investments totaled $8,000. No investment with a gross unrealized loss has been in a loss position for greater than one year.

The following is a summary of the Company's realized gains and losses recognized upon disposition of investments classified as available-for-sale for the three and six months ended April 30, 2017 and 2016:

	Three Months Ended				Six Months Ended
	April 30,				April 30,
(in thousands)	2017		2016		2017		2016
Gains	$	-	$	64	$	204	$	199
Losses		(1)		(37)		(1)		(37)
Net realized gains (losses)	$	(1)	$	27	$	203	$	162

The Company has a 49 percent interest in Hexavest Inc. (Hexavest), a Montreal, Canada-based investment adviser. The carrying value of this investment was $134.9 million and $137.3 million at April 30, 2017 and October 31, 2016, respectively. At April 30, 2017, the Company's investment in Hexavest consisted of $6.1 million of equity in the net assets of Hexavest, definite-lived intangible assets of $23.2 million and goodwill of $111.8 million, net of a deferred tax liability of $6.2 million. At October 31, 2016, the Company's investment in Hexavest consisted of $5.3 million of equity in the net assets of Hexavest, definite-lived intangible assets of $24.5 million and goodwill of $114.1 million, net of a deferred tax liability of $6.6 million. The investment is denominated in Canadian dollars and is subject to foreign currency translation adjustments, which are recorded in accumulated other comprehensive income (loss).

The Company has an option, exercisable later in 2017, to purchase an additional 26 percent interest in Hexavest. As part of the purchase price allocation at closing, a value of $8.3 million was assigned to this option. The option is included in other assets in the Company's Consolidated Balance Sheets at April 30, 2017 and October 31, 2016.

The Company also has a seven percent equity interest in a private equity partnership managed by a third party that invests in companies in the financial services industry. The Company's investment in the partnership was $3.0 million and $2.6 million at April 30, 2017 and October 31, 2016, respectively.

The Company did not recognize any impairment losses related to its investments in equity method investees during the three and six months ended April 30, 2017 or 2016.

During the six months ended April 30, 2017 and 2016, the Company received dividends of $5.1 million and $5.8 million, respectively, from its investments in equity method investees.

Investments, other, consists of certain investments carried at cost totaling $19.1 million and $19.2 million at April 30, 2017 and October 31, 2016, respectively.

During the fiscal year ended October 31, 2016, the Company participated as lead investor in an equity financing in SigFig, an independent San Francisco-based wealth management technology firm. The carrying value of Company's investment in SigFig was $17.0 million at both April 30, 2017 and October 31, 2016.