A balanced investment strategy is a strategy that seeks a balance between capital preservation and capital growth.
It is used by investors with moderate risk tolerance and usually consists of a fairly even mix of stocks and bonds.
Balanced investment strategies are in the middle of the spectrum of risk and reward. More conservative investors may opt for capital preservation strategies, while more aggressive investors may opt for growth strategies.
An asset swap is used to convert cash flow characteristics in order to hedge risks from one financial instrument with undesirable cash flow characteristics to another with favorable cash flow characteristics.