Barclays Global Investors, National Association is an asset management arm of Barclays plc. The firm also provides securities lending, consultant resources, and transition services to its clients. It primarily provides its services to individuals and institutions, including defined contribution and defined benefit plans, treasuries, foundations, and endowments. The firm manages separate client-focused portfolios. It also manages pension funds and retirement plans for its clients. The firm invests in the public equity, fixed income, and alternative investments markets across the globe. It also makes investments in ADRs and GDRs. The firm makes its equity investments in value stocks of small-cap, mid-cap, and large-cap companies. It typically employs an indexing strategy to create its equity portfolio. The firm makes its fixed income investments in asset-backed securities, mortgage-backed securities, and government bonds across all maturities and credit ratings. It employs a quantitative and a qualitative analysis to create its fixed income investments. The firm benchmarks the performance of its equity and fixed income portfolios against the leading indexes across the globe. It invests in commodity and currency markets, real estate investments in REITs, REOCs, and real estate properties to make its alternative investments. The firm uses a long-short strategy to make its investments. Barclays Global Investors was founded in 1971 and is based in San Francisco, California with additional offices in Boston, Massachusetts and Paris, France.