The following is a summary of investments at January 31, 2018 and October 31, 2017:

(in thousands)		January 31, 2018		October 31, 2017
Investment securities, trading:
Short-term debt securities	$	207,450	$	213,537
Consolidated sponsored funds		500,766		401,726
Separately managed accounts		103,050		93,113
Total investment securities, trading		811,266		708,376
Investment securities, available-for-sale		23,447		22,465
Investments in non-consolidated CLO entities		23,860		3,609
Investments in equity method investees		152,324		144,911
Investments, other		18,841		18,831
Total investments⁽¹⁾	$	1,029,738	$	898,192

⁽¹⁾ Excludes bank loan investments held by a consolidated warehouse-stage CLO entity, which is discussed in Note 5.

The following is a summary of the fair value of investments classified as trading at January 31, 2018 and October 31, 2017:

(in thousands)		January 31, 2018		October 31, 2017
Short-term debt securities	$	207,450	$	213,537
Other debt securities		400,792		313,351
Equity securities		203,024		181,488
Total investment securities, trading	$	811,266	$	708,376

The Company recognized gains related to trading securities still held at the reporting date of $7.3 million and $2.3 million for the three months ended January 31, 2018 and 2017, respectively, within gains and other investment income, net, on 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 January 31, 2018 and October 31, 2017:

January 31, 2018			Gross Unrealized
(in thousands)		Cost		Gains		Losses		Fair Value
Investment securities, available-for-sale	$	15,776	$	7,688	$	(17)	$	23,447

October 31, 2017			Gross Unrealized
(in thousands)		Cost		Gains		Losses		Fair Value
Investment securities, available-for-sale	$	15,755	$	6,718	$	(8)	$	22,465

Net unrealized holding gains on investment securities classified as available-for-sale included in other comprehensive income on the Company's Consolidated Statements of Comprehensive Income were $1.0 million and $0.5 million for the three months ended January 31, 2018 and 2017, respectively.

The Company did not recognize any impairment losses on investment securities classified as available-for-sale for the three months ended January 31, 2018 or 2017.

The aggregate fair value of available-for-sale investments in an unrealized loss position at January 31, 2018 was $0.1 million; unrealized losses related to these investments totaled $17,000. 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 months ended January 31, 2018 and 2017:

The Company has a 49 percent interest in Hexavest Inc. (Hexavest), a Montreal, Canada-based investment adviser. The carrying value of this investment was $149.1 million and $142.0 million at January 31, 2018 and October 31, 2017, respectively. At January 31, 2018, the Company's investment in Hexavest consisted of $6.7 million of equity in the net assets of Hexavest, definite-lived intangible assets of $24.4 million and goodwill of $124.6 million, net of a deferred tax liability of $6.6 million. At October 31, 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 $23.7 million and goodwill of $118.6 million, net of a deferred tax liability of $6.4 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 year-to-date change in the carrying value of goodwill is entirely attributable to such foreign currency translation adjustments.

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 $3.2 million and $2.9 million at January 31, 2018 and October 31, 2017, respectively.

The Company did not recognize any impairment losses related to its investments in equity method investees during the three months ended January 31, 2018 or 2017.

During both the three months ended January 31, 2018 and 2017, the Company received dividends of $2.9 million from its investments in equity method investees.

Investments, other, which totaled $18.8 million at both January 31, 2018 and October 31, 2017, consists of certain investments carried at cost.

During the 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 January 31, 2018 and October 31, 2017.