Mutual funds are DWS Investments' bread and butter. Formerly DWS Scudder, the firm is the US retail asset management division of Deutsche Asset Management (DeAM), which in turn is part of German banking giant Deutsche Bank. The company's products include defined-contribution retirement plans, individual retirement accounts (IRAs), variable annuities, closed-end funds, and money market funds, in addition to its family some 60 mutual funds. DWS Investments serves large corporations, financial institutions, governments, and foundations, as well as individual investors. The firm has more than $120 billion of client assets under management.