The Gabelli Equity Income Fund on The Bank of New York Mellon Corp.
Thesis
BNY is a global leader in custody, investment management, and investment services. Gabelli sees the company benefiting from a normalized rate environment, rising global incomes, and growing cross-border financial activity. Its scale in assets under custody and management gives it strong exposure to those trends.
“Going forward, BK is benefiting from a normalized interest rate environment, rising global incomes.”