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INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES.
12 Months Ended
Dec. 31, 2018
Information about Receivables, Revenues, and Services [Abstract]  
INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES
INFORMATION ABOUT RECEIVABLES, REVENUES, AND 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



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



Investors that we serve are primarily domiciled in the U.S.; investment advisory clients outside the U.S. account for about 6% of our assets under management at December 31, 2018 and 2017.

Total net revenues earned from T. Rowe Price investment products totaled $4,453.6 million in 2018, $4,038.8 million in 2017, and $3,569.3 million in 2016. Accounts receivable from these products aggregate to $354.8 million at December 31, 2018 and $371.9 million at December 31, 2017.