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Eaton Vance Earnings Slip On Lower Fees

Eaton Vance Corp. suffered a 6.9 percent fall in its earnings in fiscal fourth quarter.

Eaton Vance Corp. suffered a 6.9 percent fall in its earnings in fiscal fourth quarter, The Wall Street Journal reports. The decline came as the asset manager reported lower fee revenue amid market turbulence.

As of October 31, Eaton Vance’s assets under management were up year-to-year at $188.2 billion from $185.24 billion. Net outflows were down $2.73 billion in comparison with $3.16 billion a year earlier. Its profit of $46.8 million was lower than the $50.3 million registered a year earlier.

Click here for the story from The Wall Street Journal.

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