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INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES. (Tables) | 12 Months Ended
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Dec. 31, 2018
Information about Receivables, Revenues, and Services [Abstract] |
Components of revenues from advisory services | Revenues earned during the years ended December 31, 2018, 2017 and 2016 under agreements with clients include:
| 2018
(in millions) | U.S. mutual funds |  | Subadvised and separate accounts and other investment products |  | Other clients |  | Total
Investment advisory fees | $ | 3,375.0 |  |  | $ | 1,475.6 |  |  | $ | — |  |  | $ | 4,850.6 |
Administrative fees | 302.2 |  |  | — |  |  | 81.8 |  |  | 384.0 |
Distribution and servicing fees | 138.0 |  |  | — |  |  | — |  |  | 138.0 |
Net revenues | $ | 3,815.2 |  |  | $ | 1,475.6 |  |  | $ | 81.8 |  |  | $ | 5,372.6 |
| 2017
(in millions) | U.S. mutual funds |  | Subadvised and separate accounts and other investment products |  | Other clients |  | Total
Investment advisory fees | $ | 3,080.0 |  |  | $ | 1,215.8 |  |  | $ | — |  |  | $ | 4,295.8 |
Administrative fees | 333.6 |  |  | — |  |  | 78.5 |  |  | 412.1 |
Distribution and servicing fees | 147.0 |  |  | — |  |  | — |  |  | 147.0 |
Net revenues | $ | 3,560.6 |  |  | $ | 1,215.8 |  |  | $ | 78.5 |  |  | $ | 4,854.9 |
| 2016
(in millions) | U.S. mutual funds |  | Subadvised and separate accounts and other investment products |  | Other clients |  | Total
Investment advisory fees | $ | 2,711.7 |  |  | $ | 1,023.3 |  |  | $ | — |  |  | $ | 3,735.0 |
Administrative fees | 329.9 |  |  | — |  |  | 78.2 |  |  | 408.1 |
Distribution and servicing fees | 141.7 |  |  | — |  |  | — |  |  | 141.7 |
Net revenues | $ | 3,183.3 |  |  | $ | 1,023.3 |  |  | $ | 78.2 |  |  | $ | 4,284.8 |
The following table details the investment advisory fees earned from clients by their underlying asset class.
(in millions) | 2018 |  | 2017 |  | 2016
U.S. mutual funds |  |  |  |  |
Equity and blended assets | $ | 2,858.1 |  |  | $ | 2,571.7 |  |  | $ | 2,228.7 |
Fixed income, including money market | 516.9 |  |  | 508.3 |  |  | 483.0 |
| 3,375.0 |  |  | 3,080.0 |  |  | 2,711.7 |
Subadvised and separate accounts and other investment products |  |  |  |  |
Equity and blended assets | 1,236.8 |  |  | 1,009.4 |  |  | 850.3 |
Fixed income, including money market | 238.8 |  |  | 206.4 |  |  | 173.0 |
| 1,475.6 |  |  | 1,215.8 |  |  | 1,023.3 |
Total | $ | 4,850.6 |  |  | $ | 4,295.8 |  |  | $ | 3,735.0 |
Components of assets under management | The following table summarizes the investment portfolios and assets under management on which we earn investment advisory fees.
(in billions) | Average during |  | As of December 31,
| 2018 |  | 2017 |  | 2016 |  | 2018 |  | 2017
U.S. mutual funds |  |  |  |  |  |  |  |  |
Equity and blended assets | $ | 493.6 |  |  | $ | 447.5 |  |  | $ | 386.1 |  |  | $ | 441.1 |  |  | $ | 480.5 |
Fixed income, including money market | 128.2 |  |  | 121.0 |  |  | 109.4 |  |  | 123.4 |  |  | 125.8 |
| 621.8 |  |  | 568.5 |  |  | 495.5 |  |  | 564.5 |  |  | 606.3 |
Subadvised and separate accounts and other investment products |  |  |  |  |  |  |  |  |
Equity and blended assets | 317.3 |  |  | 256.4 |  |  | 211.1 |  |  | 299.2 |  |  | 291.9 |
Fixed income, including money market | 97.4 |  |  | 84.1 |  |  | 71.6 |  |  | 98.6 |  |  | 92.9 |
| 414.7 |  |  | 340.5 |  |  | 282.7 |  |  | 397.8 |  |  | 384.8 |
Total | $ | 1,036.5 |  |  | $ | 909.0 |  |  | $ | 778.2 |  |  | $ | 962.3 |  |  | $ | 991.1 |

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- Definition Tabular disclosure of the components of average assets under management and period end assets under management. Assets under management represents the market value of assets an investment adviser manages on behalf of investors and is the basis for determining investment advisory fee revenue. + References No definition available. + Details
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- Definition Tabular disclosure of the components of revenue recognized in the period for schedule-based fees earned for management of mutual funds based on average daily net assets and other investment management and advisory fees earned on other client portfolios based on asset valuations. + References No definition available. + Details
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