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INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES (Tables) | 6 Months Ended
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Jun. 30, 2025
Information about Receivables, Revenues, and Services [Abstract] |
Schedule of Revenues From Advisory Services | Net revenues earned in the three- and six-month periods ended June 30, 2025 and 2024, are included in the table below along with details of investment advisory revenues earned from clients by their underlying asset class. We also included average assets under management by asset class, on which we earn investment advisory fees.
| Three months ended |  |  |  |  |  |  |  |  | Six months ended |  |  |  |
(in millions) | 6/30/2025 |  | 6/30/2024 |  |  |  |  |  |  |  |  | 6/30/2025 |  | 6/30/2024 |  |  |  |  |
Investment advisory fees |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity | $ | 923.6 |  |  | $ | 947.5 |  |  |  |  |  |  |  |  |  | $ | 1,882.8 |  |  | $ | 1,880.0 |  |  |  |  |  |
Fixed income, including money market | 105.5 |  |  | 100.2 |  |  |  |  |  |  |  |  |  | 209.1 |  |  | 200.4 |  |  |  |  |  |
Multi-asset | 455.9 |  |  | 444.8 |  |  |  |  |  |  |  |  |  | 910.6 |  |  | 874.5 |  |  |  |  |  |
Alternatives | 82.6 |  |  | 76.3 |  |  |  |  |  |  |  |  |  | 163.5 |  |  | 150.3 |  |  |  |  |  |
Total investment advisory fees | $ | 1,567.6 |  |  | $ | 1,568.8 |  |  |  |  |  |  |  |  |  | $ | 3,166.0 |  |  | $ | 3,105.2 |  |  |  |  |  |
Performance-based advisory fees | 6.4 |  |  | 16.8 |  |  |  |  |  |  |  |  |  | 16.8 |  |  | 34.4 |  |  |  |  |  |
Capital allocation-based income (loss) | (0.4) |  |  | 0.1 |  |  |  |  |  |  |  |  |  | (1.6) |  |  | 47.2 |  |  |  |  |  |
Administrative, distribution, services, and other fees | 149.7 |  |  | 147.6 |  |  |  |  |  |  |  |  |  | 306.0 |  |  | 296.7 |  |  |  |  |  |
Net revenues | $ | 1,723.3 |  |  | $ | 1,733.3 |  |  |  |  |  |  |  |  |  | $ | 3,487.2 |  |  | $ | 3,483.5 |  |  |  |  |  |
Average AUM (in billions): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity | $ | 784.4 |  |  | $ | 790.4 |  |  |  |  |  |  |  |  |  | $ | 805.3 |  |  | $ | 780.4 |  |  |  |  |  |
Fixed income, including money market | 198.0 |  |  | 174.8 |  |  |  |  |  |  |  |  |  | 194.8 |  |  | 172.1 |  |  |  |  |  |
Multi-asset | 552.5 |  |  | 520.1 |  |  |  |  |  |  |  |  |  | 551.1 |  |  | 508.6 |  |  |  |  |  |
Alternatives | 53.9 |  |  | 48.7 |  |  |  |  |  |  |  |  |  | 53.3 |  |  | 48.1 |  |  |  |  |  |
Average AUM | $ | 1,588.8 |  |  | $ | 1,534.0 |  |  |  |  |  |  |  |  |  | $ | 1,604.5 |  |  | $ | 1,509.2 |  |  |  |  |  |

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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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