This Chimera has the body of a mortgage real estate investment trust (REIT), but its head is that of its external manager, FIDAC (Fixed Income Discount Advisory Company), a fixed-income investment management firm wholly-owned by Annaly Capital Management. Formed in 2007, Chimera invests in residential mortgage loans; residential mortgage-backed securities (RMBS), such as those guaranteed by government agencies Fannie Mae and Freddie Mac; real estate-related securities; and other assets, including collateralized debt obligations, or CDOs. The REIT went public in 2007, shortly after it was formed.