INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES.

3 Months Ended

Mar. 31, 2020

Information about Receivables, Revenues, and Services [Abstract]

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES.

Revenues earned during the first quarter of 2020 and 2019 under agreements with clients include: 

	Three months ended 3/31/2020								Three months ended 3/31/2019
			Administrative, distribution, and servicing fees								Administrative, distribution, and servicing fees
(in millions)	Investment advisory fees		Administrative fees		Distribution and servicing fees		Net revenues		Investment advisory fees		Administrative fees		Distribution and servicing fees		Net revenues
U.S. mutual funds	$	876.2	$	77.2	$	27.9	$	981.3	$	815.9	$	76.6	$	30.2	$	922.7
Subadvised and separate accounts and other investment products	451.6		—		—		451.6		378.3		—		—		378.3
Other clients	—		29.7		—		29.7		—		26.3		—		26.3
	$	1,327.8	$	106.9	$	27.9	$	1,462.6	$	1,194.2	$	102.9	$	30.2	$	1,327.3

Total net revenues earned from our related parties, specifically T. Rowe Price investment products, aggregate $1,207.7 million and $1,093.4 million for the three months ended March 31, 2020 and 2019, respectively. Accounts receivable from these products aggregate to $374.3 million at March 31, 2020, and $424.8 million at December 31, 2019.

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

	Three months ended
(in millions)	3/31/2020		3/31/2019
U.S. mutual funds
Equity and blended assets	$	749.8	$	694.5
Fixed income, including money market	126.4		121.4
	876.2		815.9
Subadvised and separate accounts and other investment products
Equity and blended assets	385.2		318.8
Fixed income, including money market	66.4		59.5
	451.6		378.3
Total	$	1,327.8	$	1,194.2

The following table summarizes the assets under management on which we earn investment advisory fees.

	Average during
	three months ended				As of
(in billions)	3/31/2020		3/31/2019		3/31/2020		12/31/2019
U.S. mutual funds
Equity and blended assets	$	525.0	$	487.6	$	443.6	$	552.4
Fixed income, including money market	129.3		122.5		118.7		130.3
	654.3		610.1		562.3		682.7
Subadvised and separate accounts and other investment products
Equity and blended assets	396.3		332.9		340.9		412.1
Fixed income, including money market	112.1		100.5		105.6		112.0
	508.4		433.4		446.5		524.1
Total	$	1,162.7	$	1,043.5	$	1,008.8	$	1,206.8

Investors that we serve are primarily domiciled in the U.S.; investment advisory clients outside the U.S. account for 7.4% and 6.9% of our assets under management at March 31, 2020, and December 31, 2019, respectively.