A portfolio is equally invested in securities with 1-, 2-, and 3-years to maturity. Each year as the 1-year securities mature, the funds are reinvested in 3-year securities. This is an example of which investment strategy?
a. Barbell maturity strategy
b. Riding the yield curve
c. Laddered maturity strategy
d. Timing maturity strategy
e. Cycle maturity strategy
Answer: C