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Derivative and Hedging (Tables) | 12 Months Ended
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Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Summary of Fair Values of Derivatives Instruments Recognized in Consolidated Statements of Financial Condition | The following table presents the fair values of derivative instruments recognized in the consolidated statements of financial condition at December 31, 2025:
| Assets |  |  | Liabilities |
| Statement of Financial Condition |  | December 31, |  |  | December 31, |  |  | Statement of Financial Condition |  | December 31, |  |  | December 31, |
(in millions) | Classification |  | 2025 |  |  | 2024 |  |  | Classification |  | 2025 |  |  | 2024 |
Derivative instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Forward foreign currency exchange contracts | Other assets |  | $ | 10 |  |  | $ | 7 |  |  | Other liabilities |  | $ | 1 |  |  | $ | 35 |
Summary of Realized and Unrealized Gains (Losses) Recognized in Consolidated Statements of Income on Derivative Instruments | The following table presents realized and unrealized gains (losses) recognized in the consolidated statements of income on derivative instruments:
|  |  |  | Gains (Losses) |
(in millions) |  | Statement of Income Classification |  | 2025 |  |  | 2024 |  |  | 2023 |
Derivative instruments |  |  |  |  |  |  |  |  |  |  |
Exchange traded futures(1) |  | Net gain (loss) on investments |  | $ | (199 | ) |  | $ | (30 | ) |  | $ | (88 | )
Forward foreign currency exchange contracts |  | General and administration expense |  |  | 72 |  |  |  | 5 |  |  |  | 98 |
Total gain (loss) from derivative instruments |  | $ | (127 | ) |  | $ | (25 | ) |  | $ | 10 |
(1) Amounts for 2025, 2024 and 2023 include $230 million, $48 million and $112 million of losses on futures used as a macro hedging strategy of seed investments, respectively. In addition, amounts for 2025, 2024 and 2023 include $31 million, $18 million and $24 million of gains on futures used to economically hedge certain deferred cash compensation plans, respectively.

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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4CC -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4CC Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E + Details
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- Definition Tabular disclosure for fair value hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B + Details
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