AG Mortgage Investment Trust, Inc. is a Maryland corporation that invests in, acquires and manages a diversified portfolio of residential mortgage assets, other real estate-related securities and financial assets.
Over time, we expect our portfolio will focus on residential mortgage-backed securities, that are not issued or guaranteed by a U.S. government agency or a U.S. government-sponsored entity, or non-Agency residential mortgage-backed securities. Our non-Agency residential mortgage-backed securities investments are expected to include fixed- and floating-rate securities, including investment grade (AAA through BBB) and non investment grade (BB and below). Initially, however, we have invested significant proceeds in residential mortgage-backed securities for which a U.S. government agency such as the Government National Mortgage Association, or Ginnie Mae, or a federally-chartered corporation such as the Federal National Mortgage Association, or Fannie Mae, or the Federal Home Loan Mortgage Corporation, or Freddie Mac, guarantees payments of principal and interest on the securities. We refer to these securities as Agency residential mortgage-backed securities. Our Agency residential mortgage-backed securities investments include mortgage passthrough securities and may include collateralized mortgage obligations, or CMOs. Over time, we expect to transition our portfolio from Agency residential mortgage-backed securities to non-Agency residential mortgage-backed securities. We also have the discretion to invest in other target assets, including commercial mortgage-backed securities, residential and commercial mortgage loans and asset-backed securities.
We are externally managed by AG REIT Management, LLC, or our Manager, a subsidiary of Angelo, Gordon & Co., L.P., or Angelo, Gordon, and we benefit from the personnel, relationships and experience of our Manager's executive team and other personnel of Angelo, Gordon. Angelo, Gordon, is a privately-held, SEC-registered investment adviser with approximately $23 billion under management as of December 31, 2010. Angelo, Gordon specializes in alternative investment activities for over 1,000 institutional and high net worth clients. Angelo, Gordon's investment focus centers on three core competencies-credit, real estate and private equity. Its investment philosophy combines fundamental in-depth research, conservative valuation approach and diversification. We believe the Angelo, Gordon platform, with extensive experience in residential mortgage-backed securities, combined with extensive experience in commercial mortgage-backed securities, asset-backed securities, commercial real estate, net lease real estate, distressed credit, leveraged loans and private equity, enable us to selectively acquire assets to construct a diversified investment portfolio of target assets designed to produce attractive risk-adjusted returns through a combination of dividends and capital appreciation across a variety of market conditions and economic cycles. We intend to use debt financing to increase potential returns to our stockholders and to help fund the acquisition of our target assets.