Investment Strategy for Insurance Companies

ABC Insurance Company, a large provider of life insurance products, is evaluating its investment portfolio to ensure it adequately meets future policyholder liabilities. The company is particularly focused on how to optimize its asset allocation in light of potential interest rate changes and shifting regulatory environments. One of the investment manager's strategies includes evaluating the proportion of fixed-income securities versus equities in the portfolio, along with the credit quality of the fixed-income investments.

Given this context, which of the following investment strategies is most likely to be used to balance the risk associated with interest rate fluctuations while ensuring liquidity for policyholder claims?