Note 4—Available-for-sale Securities

The Company’s available-for-sale securities at September 30, 2012 and June 30, 2012 are summarized as follows (in thousands):


	Three Months Ended September 30, 2012									Three Months Ended June 30, 2012
	Cost		Gross Unrealized					Fair Value		Cost		Gross Unrealized					Fair Value
	Cost		Gains		Losses			Fair Value		Cost		Gains		Losses			Fair Value

Available-for-sale securities:
Company-sponsored mutual funds	$	1,219	$	93	$	(113	)	$	1,199	$	1,217	$	72	$	(156	)	$	1,133
Epoch Global Champions separate account		998		142		(11	)		1,129		992		144		(48	)		1,088
Epoch U.S. Equity Shareholder Yield separate account		2,019		82		(26	)		2,075		2,000		—		—			2,000
Investment in non-affiliated limited partnership		2,108		123		—			2,231		4,000		227		—			4,227

Total	$	6,344	$	440	$	(150	)	$	6,634	$	8,209	$	443	$	(204	)	$	8,448

The Company has evaluated the carrying value and the gross unrealized losses of the investments and determined that these losses are not other-than-temporary. In its impairment analysis, the Company takes into consideration numerous criteria, including the duration and extent of any decline in fair value and the Company’s intent with respect to a given security. If the decline in value is determined to be other-than-temporary, the carrying value of the security is written down to fair value through net income. The unrealized losses for the available-for-sale securities have been unrealized for twelve months or more. However, the gross unrealized losses were primarily caused by overall weakness in the financial markets and world economy, and the Company has both the ability and intent to hold the investments for a period of time sufficient to recover such losses. No impairment losses in value of the Company’s investments were recognized during any of the periods presented.

Proceeds as well as realized gains and losses recognized from investments classified as available-for-sale during the three months ended September 30, 2012 and 2011 are as follows (in thousands):


	Three Months Ended September 30, 2012							Three Months Ended September 30, 2011
			Gross Realized							Gross Realized
	Proceeds		Gains		Losses			Proceeds		Gains		Losses

Available-for-sale securities:
Epoch U.S. Equity Shareholder Yield separate account	$	55	$	2	$	(2	)	$	—	$	—	$	—
Investment in non-affiliated limited partnership		2,000		108		—			—		—		—
Epoch Global All Cap separate account		—		—		—			1,373		42		(193	)

Total	$	2,055	$	110	$	(2	)	$	1,373	$	42	$	(193	)

Realized gains and losses from available-for-sale securities are included in other income in the Condensed Consolidated Statements of Income using the specific identification method.