Bank of New York Mellon Corp. (BK, Financial) (2.8%) (BK – $47.29 – NYSE) is a global leader in providing financial services to institutions and individuals. The company operates in more than one hundred markets worldwide and strives to be the global provider of choice for investment management and investment services. As of December 2020, the firm had $41.1 trillion in assets under custody and $2.0 trillion in assets under management. Going forward, we expect BK to benefit from higher interest rates, rising global incomes and the cross border movement of financial transactions.
From Mario Gabelli (Trades, Portfolio)'s Gabelli Value 25 Fund first-quarter 2021 shareholder commentary.
