LONDON, January 18, 2013 /PRNewswire/ --
The volatile global economic environment and stricter regulations since the financial crisis has meant that the operating environment for asset management industry, which includes hedge funds, private equity funds and mutual fund companies, has been tough. Still, the performance of the asset management industry has been robust. Our analysts have issued a technical analysis on Bank of New York Mellon Corporation (NYSE: BK), which is available for free. Sign up now at
Earlier this week, Bank of New York Mellon Corporation (NYSE: BK), an investment management company, reported strong results for the fourth quarter of 2012. BNY Mellon posted sturdy year-over-year growth in fees in its Investment Management, Asset Servicing, Clearing and Treasury Services businesses for the fourth quarter. Our free technical analysis on Bank of New York Mellon is available athttp://www.StockCall.com/BK011813.pdf Gerald L. Hassell, Chairman and CEO of BNY Mellon, said that the company benefited from the improvement in market values and, more importantly, from its relentless focus on generating organic growth with its broad client base. Hassell said that the company is driving its operational excellence initiatives to improve its efficiency and help mitigate the impact on its high margin revenues due to the low interest rate environment and tepid capital market activity. At the end of the fourth quarter, BNY Mellon's assets under custody totaled $26.7 trillion, up 9% over the same period in the previous year. Looking ahead, BNY Mellon expects their debt ceiling issue to remain a worry for investors. Speaking at a conference call after the release of quarterly results, the CEO said that there is still an enormous amount of cash sitting on the sidelines waiting for better certainty and clarity.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts