Mitigating Interest Rate Risk in Fixed Income Portfolio Management

As a fixed income portfolio manager, you are tasked with managing a diversified portfolio of bonds. Recently, you have noted an increasing trend in interest rates and are considering strategies to mitigate interest rate risk in your portfolio. Understanding the various actions available to you is critical for protecting the portfolio's value while aiming to achieve yield.

Which of the following strategies would be the most effective in minimizing the impact of rising interest rates on your fixed income portfolio?