Related Party Transactions

Mutual Funds

We provide investment management, distribution, shareholder, administrative and brokerage services to individual investors by means of retail mutual funds sponsored by our company, our subsidiaries and our affiliated joint venture companies. We provide substantially all of these services under contracts that specify the services to be provided and the fees to be charged. The contracts are subject to annual review and approval by each mutual fund’s board of directors or trustees and, in certain circumstances, by the mutual fund’s shareholders. Revenues for services provided or related to the mutual funds are as follows:



	Years Ended December 31,
	2018		2017		2016
	(in thousands)
Investment advisory and services fees	$	1,207,086	$	1,148,467	$	998,892
Distribution revenues	403,965		397,674		371,604
Shareholder servicing fees	74,019		73,310		76,201
Other revenues	7,262		6,942		6,253
Bernstein Research Services	33		13		5

AXA, EQH and their Subsidiaries

We provide investment management and certain administration services to AXA, EQH and their subsidiaries. In addition, AXA, EQH and their subsidiaries distribute company-sponsored mutual funds, for which they receive commissions and distribution payments. Sales of company-sponsored mutual funds through EQH and its subsidiaries aggregated approximately $0.4 billion, $0.5 billion and $0.8 billion for the years ended December 31, 2018, 2017 and 2016, respectively. Also, we are covered by various insurance policies maintained by EQH and itd subsidiaries and we pay fees for technology and other services provided by AXA, EQH and their subsidiaries. Aggregate amounts included in the consolidated financial statements for transactions

with AXA, EQH and their subsidiaries, as of and for the years ended December 31, are as follows:



	2018			2017			2016
	(in thousands)
Revenues:
Investment advisory and services fees	$	169,157		$	157,430		$	150,016
Bernstein Research Services	134			403			583
Distribution revenues	13,897			13,387			12,145
Other revenues	1,729			1,130			969
	$	184,917		$	172,350		$	163,713
Expenses:
Commissions and distribution payments to financial intermediaries	$	21,567		$	19,202		$	16,077
General and administrative	15,006			12,428			16,315
Other	1,485			1,696			1,653
	$	38,058		$	33,326		$	34,045
Balance Sheet:
Institutional investment advisory and services fees receivable	$	17,612		$	13,806
Prepaid expenses	364			2,905
Other due to AXA, EQH and their subsidiaries	(7,259		)	(19,666		)
	$	10,717		$	(2,955	)

Other Related Parties

The consolidated statements of financial condition include a net receivable from AB Holding as a result of cash transactions for fees and expense reimbursements. The net receivable balance included in the consolidated statements of financial condition as of December 31, 2018 and 2017 was $11.4 million and $11.1 million, respectively.