The Vanguard Balanced Index Fund (VBINX) is a mutual fund that seeks to provide investors with a balanced portfolio of stocks and bonds. It is designed to track the performance of a benchmark index, providing investors with a low-cost and diversified investment option. The fund is managed by Vanguard, a reputable investment management company known for its low fees and long-term investment approach. VBINX is suitable for investors looking for a balanced and conservative investment strategy.