Pacific Investment Management Company (PIMCO) is fixated on fixed-income products. With more than $1.3 trillion of assets under management, the company is one of the world's foremost bond fund managers. PIMCO oversees more than 70 mutual funds invested in such financial instruments as corporate paper, emerging markets debt, municipal bonds, mortgage-backed securities, credit default swaps, and real estate investment trusts (REITs), as well as stocks. The company also offers managed accounts, extrange-traded funds, and financial advisory services. Serving both retail and institutional investors, PIMCO has about 10 offices worldwide. It is a subsidiary of German insurance giant Allianz.