BlackRock Financial Management, Inc. (BFM) is a privately owned investment manager. The firm also provides advisory services to its clients. It primarily provides its services to corporations and pension and profit sharing plans. The firm also manages accounts for high net worth individuals, banking or thrift institutions, investment companies, mutual funds, other pooled investment vehicles, charitable organizations, state or municipal government entities, government agencies, and quasi-governmental agencies. It manages fixed income portfolios and trusts for its clients. The firm invests in the fixed income markets across the globe. It typically invests in mortgage-backed securities to make its investments. The firm employs a top-down and a bottom-up approach to make investments in mortgage-backed securities. It benchmarks the performance of its investments against the Lehman indices. BlackRock Financial Management was founded in 1988 and is based in New York, New York with additional offices in Boston, Massachusetts; Chicago, Illinois; San Francisco, California; Hong Kong, Hong Kong; Edinburgh, United Kingdom; Florham Park, New Jersey; New York, New York; Newport Beach, California; Philadelphia, Pennsylvania; Singapore, Singapore; Sydney, New South Wales; Tokyo, Japan; and Wilmington, Delaware. The firm operates as a subsidiary of Blackrock Holdco 2, Inc.