The three months to the end of January marked a “choppy quarter” for US investment manager Eaton Vance as net outflows cast a cloud over revenue and earnings growth.

The firm posted record quarterly revenue during the period of $360.3 million - a 13% year-on-year increase. Net profits in the three months to the end of January were $76.7 million compared with $62.1 million during the same period a year earlier.