v3.26.1
INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES
 6 Months Ended
Jun. 30, 2026
Information about Receivables, Revenues, and Services [Abstract]  
INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES.
Net revenues earned in the three- and six-month periods ended June 30, 2026 and 2025 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 endedSix months ended
(in millions)6/30/20266/30/20256/30/20266/30/2025
Investment advisory fees
Equity$1,011.9 $923.6 $1,986.6 $1,882.8 
Fixed income, including money market113.5 105.5 225.3 209.1 
Multi-asset529.5 455.9 1,038.6 910.6 
Alternatives89.9 82.6 177.3 163.5 
Total investment advisory fees$1,744.8 $1,567.6 $3,427.8 $3,166.0 
Performance-based advisory fees6.5 6.4 14.0 16.8 
Capital allocation-based income11.9 (0.4)40.0 (1.6)
Administrative, distribution, servicing, and other fees144.2 149.7 282.6 306.0 
Net revenues$1,907.4 $1,723.3 $3,764.4 $3,487.2 
Average AUM (in billions):
Equity$886.6 $784.4 $873.9 $805.3 
Fixed income, including money market219.0 198.0 216.4 194.8 
Multi-asset671.2 552.5 656.6 551.1 
Alternatives60.9 53.9 60.0 53.3 
Average AUM$1,837.7 $1,588.8 $1,806.9 $1,604.5 

Total net revenues earned from sponsored investment products totaled $1,619.6 million and $1,435.2 million for the three months ended June 30, 2026 and 2025, respectively. Total net revenues earned during the six months ended June 30, 2026 and 2025 aggregate to $3,194.1 million and $2,906.5 million, respectively. Accounts receivable from these products aggregate to $702.3 million at June 30, 2026 and $664.2 million at December 31, 2025.
Investors we serve are primarily domiciled in the U.S.; investors domiciled outside the United States account for 9.1% at June 30, 2026, 8.6% at March 31, 2026, and 8.8% at December 31, 2025 of our assets under management.