Eaton Vance profit more than doubles

Eaton Vance Corp. reported that its profit more than doubled in the second quarter, ended April 30, on strong fund inflows and an increase in assets under management. The Boston-based money manager posted net income of $53.2 million, or 43 cents per share. That compares with net income of $23.1 million, or 17 cents a share, from the comparable period a year earlier. Assets under management rose 6% to $159.1 billion at the end of April, up from $150 billion in the comparable period a year earlier. Net inflows rose to $4.9 billion in the second quarter, up from $3.6 billion in the quarter that ended Jan 31. However, inflows were off from the $10.5 billion in the year-ago quarter, due to a lack of cash going into closed-end funds, the firm reported.