Just as there are many valid investment philosophies, there are multiple ways to implement those philosophies in the form of different portfolio construction approaches. Historically, the Australian market has seen a steady decline in the use of centrally developed multi-asset approaches, with practitioners taking a more active role in product selection, and preferring the transparency of, and client engagement resulting from, taking more control over constructing portfolios and using sector-based investment products.

However, with several catalysts impacting on ...