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INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES (Tables) | 12 Months Ended
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Dec. 31, 2024
Information about Receivables, Revenues, and Services [Abstract] |
Schedule of Revenues From Advisory Services | Revenues earned during the years ended December 31, 2024, 2023 and 2022, are included in the table below along with details of investment advisory fees earned from clients by their underlying asset class. We have also included average assets under management by asset class, on which we earn the investment advisory fees.
(in millions) | 2024 |  | 2023 |  | 2022
Investment advisory fees |  |  |  |  |
Equity | $ | 3,864.7 |  |  | $ | 3,442.3 |  |  | $ | 3,758.4 |
Fixed income, including money market | 410.7 |  |  | 400.4 |  |  | 426.3 |
Multi-asset | 1,814.1 |  |  | 1,583.4 |  |  | 1,508.9 |
Alternatives | 310.2 |  |  | 283.4 |  |  | 269.1 |
Total investment advisory fees | $ | 6,399.7 |  |  | $ | 5,709.5 |  |  | $ | 5,962.7 |
Performance-based advisory fees | 59.3 |  |  | 38.2 |  |  | 6.4 |
Capital allocation-based income | 46.6 |  |  | 161.9 |  |  | (54.3) |
Total administrative, distribution, and servicing fees | 588.0 |  |  | 550.9 |  |  | 573.6 |
Net revenues | $ | 7,093.6 |  |  | $ | 6,460.5 |  |  | $ | 6,488.4 |
Average AUM (in billions): |  |  |  |  |
Equity | $ | 804.3 |  |  | $ | 705.2 |  |  | $ | 763.6 |
Fixed income, including money market | 178.6 |  |  | 169.3 |  |  | 173.4 |
Multi-asset | 529.0 |  |  | 442.3 |  |  | 418.7 |
Alternatives | 50.0 |  |  | 45.5 |  |  | 42.7 |
Average AUM | $ | 1,561.9 |  |  | $ | 1,362.3 |  |  | $ | 1,398.4 |

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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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- Definition Information about Receivables, Revenues, and Services + References No definition available. + Details
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