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INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES. (Tables)

12 Months Ended

Dec. 31, 2020

Information about Receivables, Revenues, and Services [Abstract]

Components of revenues from advisory services

Revenues earned during the years ended December 31, 2020, 2019 and 2018 under agreements with clients include: 

			2020
									Administrative, distribution, and servicing fees
(in millions)			Investment advisory fees						Administrative fees						Distribution and servicing fees						Net revenues
U.S. mutual funds			$	3,639.9					$	291.3					$	111.3					$	4,042.5
Subadvised funds, separate accounts, collective investment trusts, and other investment products			2,053.2						—						—						2,053.2
Other clients			—						111.0						—						111.0
			$	5,693.1					$	402.3					$	111.3					$	6,206.7
			2019
									Administrative, distribution, and servicing fees
(in millions)			Investment advisory fees						Administrative fees						Distribution and servicing fees						Net revenues
U.S. mutual funds			$	3,452.5					$	281.8					$	120.0					$	3,854.3
Subadvised funds, separate accounts, collective investment trusts, and other investment products			1,660.0						—						—						1,660.0
Other clients			—						103.6						—						103.6
			$	5,112.5					$	385.4					$	120.0					$	5,617.9
			2018
									Administrative, distribution, and servicing fees
(in millions)			Investment Advisory Fees						Administrative Fees						Distribution and servicing fees						Net Revenues
U.S. mutual funds			$	3,375.0					$	302.2					$	138.0					$	3,815.2
Subadvised funds, separate accounts, collective investment trusts, and other investment products			1,475.6						—						—						1,475.6
Other clients			—						81.8						—						81.8
			$	4,850.6					$	384.0					$	138.0					$	5,372.6

The following table details the investment advisory fees earned from clients by their underlying asset class.

(in millions)			2020						2019						2018
U.S. mutual funds
Equity			$	2,440.4					$	2,219.1					$	2,125.4
Fixed income, including money market			266.5						280.1						288.2
Multi-asset			933.0						953.3						961.4
			3,639.9						3,452.5						3,375.0
Subadvised funds, separate accounts, collective investment trusts, and other investment products
Equity and blended assets			1,326.3						1,033.4						892.0
Fixed income, including money market			149.3						153.7						227.4
Multi-asset			577.6						472.9						356.2
			2,053.2						1,660.0						1,475.6
Total			$	5,693.1					$	5,112.5					$	4,850.6

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,
			2020						2019						2018						2020						2019
U.S. mutual funds
Equity			$	417.0					$	376.3					$	356.9					$	498.6					$	407.1
Fixed income, including money market			76.8						72.0						70.3						79.4						73.7
Multi-Asset			193.9						192.1						194.6						216.6						201.9
			687.7						640.4						621.8						794.6						682.7
Subadvised funds, separate accounts, collective investment trusts, and other investment products
Equity			321.3						257.3						218.1						397.2						291.7
Fixed income, including money market			82.1						79.5						92.6						89.3						74.2
Multi-Asset			156.8						132.1						104.0						189.4						158.2
			560.2						468.9						414.7						675.9						524.1
Total			$	1,247.9					$	1,109.3					$	1,036.5					$	1,470.5					$	1,206.8

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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.

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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.

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