INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES (Tables)

9 Months Ended

Sep. 30, 2025

Information about Receivables, Revenues, and Services [Abstract]

Schedule of Revenues From Advisory Services

Net revenues earned in the three- and nine-month periods ended September 30, 2025 and 2024, are included in the table below along with details of investment advisory revenues by underlying asset class. We also included average assets under management by asset class, on which we earn investment advisory fees.

	Three months ended				Nine months ended
(in millions)	9/30/2025		9/30/2024		9/30/2025		9/30/2024
Investment advisory fees
Equity	$	1,011.8	$	978.5	$	2,894.6	$	2,858.5
Fixed income, including money market	110.1		104.1		319.2		304.5
Multi-asset	492.1		465.8		1,402.7		1,340.3
Alternatives	84.7		78.9		248.2		229.2
Total investment advisory fees	$	1,698.7	$	1,627.3	$	4,864.7	$	4,732.5
Performance-based advisory fees	6.4		5.6		23.2		40.0
Capital allocation-based income (loss)	42.0		4.6		40.4		51.8
Administrative, distribution, services, and other fees	146.4		148.1		452.4		444.8
Net revenues	$	1,893.5	$	1,785.6	$	5,380.7	$	5,269.1
Average AUM (in billions):
Equity	$	865.8	$	813.1	$	825.7	$	791.4
Fixed income, including money market	203.8		183.3		197.8		175.9
Multi-asset	597.7		542.3		566.8		519.9
Alternatives	55.7		50.8		54.1		49.0
Average AUM	$	1,723.0	$	1,589.5	$	1,644.4	$	1,536.2