Other Investments

3 Months Ended

Sep. 30, 2011

Other Investments [Abstract]

Other Investments

Note 4—Other Investments

The Company's other investments at September 30, 2011 and June 30, 2011 are summarized as follows (in thousands):

	September 30, 2011									June 30, 2011
	Cost		Gross Unrealized					Fair Value		Cost		Gross Unrealized					Fair Value
			Gains		Losses							Gains		Losses
Available-for-sale securities:
Epoch Global All Cap separate account	$	2,513	$	219	$	(161	)	$	2,571	$	2,652	$	445	$	(36	)	$	3,061
Company-sponsored mutual funds		1,187		26		(224	)		989		1,185		91		(97	)		1,179
Investment in limited partnership		4,000		102		—			4,102		4,000		144		—			4,144
Total available-for-sale securities		7,700		347		(385	)		7,662		7,837		680		(133	)		8,384
Equity method investment:
Epoch Global Absolute Return Fund, LLC		449		—		—			449		523		—		—			523
Total Other Investments	$	8,149	$	347	$	(385	)	$	8,111	$	8,360	$	680	$	(133	)	$	8,907

The unrealized losses for each period presented have been unrealized for twelve months or more. Management has reviewed its investment securities for other-than-temporary impairment in accordance with its accounting policy outlined in Note 2 of the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2011. When evaluating whether an unrealized loss on an available-for-sale investment is other than temporary, management reviews such factors as extent and duration of the loss, reduction or cessation of dividend payments, and overall financial condition of the issuer.

Based on management's assessment, the Company does not believe that the declines are other-than-temporary for all periods presented. The gross unrealized losses from available-for-sale securities were primarily caused by overall weakness in the financial markets and world economy. The securities are expected to recover their value over time, and management has the intent and ability to hold these investments until such recovery occurs. Unrealized gains or losses from available-for-sale securities are recorded in accumulated other comprehensive income/(loss), net of tax, as a separate component of stockholders' equity until realized.

Proceeds as well as realized gains and losses recognized from investments classified as available-for-sale are as follows (in thousands):

	September 30, 2011							September 30, 2010
	Proceeds		Gross Realized					Proceeds		Gross Realized
			Gains		Losses					Gains		Losses
Epoch Global All Cap separate account	$	1,373	$	42	$	(193	)	$	442	$	30	$	(36	)