# Categories

Each portfolio is structured around Categories, which provide a flexible way to define and group allocations. Categories are agnostic — adapting to the portfolio type:

* Multi-asset models → asset classes
* Single-fund strategies → sectors, regions, factors, or styles
* Custom strategies → any internal taxonomy

This flexibility ensures that allocations remain consistent across different reporting contexts.

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### Examples

Multi-Asset Portfolios

* Australian Shares
* International Shares
* Fixed Interest
* Property & Infrastructure
* Alternatives
* Cash

Single-Fund / Equity Portfolios

* Sectors (e.g., Technology, Financials, Healthcare)
* Regions (e.g., Emerging Markets, Developed Markets)
* Factors or styles (e.g., Growth, Value, Quality)

Custom Strategies

* Internal labels (e.g., Core vs. Satellite)
* Thematic buckets (e.g., ESG, Income Focused)
* Bespoke groupings for client mandates

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### Subcategories

Each Category can be drilled down further using Subcategories:

* Granularity: “Fixed Interest” split into “Domestic Bonds” and “Global Bonds”
* Equity Breakouts: “Equities” split into “Large Cap,” “Mid Cap,” “Small Cap”
* Custom Drill-Down: tailored sub-groupings aligned with internal research or client mandates

Subcategories can be either:

* Synced – imported automatically from data feeds or pipelines
* Custom – created manually to reflect bespoke structures

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### Allocation Controls

For every Category or Subcategory, the following ranges can be configured:

* Target % – the intended long-term allocation
* Neutral % – the reference point for rebalancing
* Min % / Max % – permissible drift ranges