Pacific Asset Management challenges traditional DFMs with Blackrock collaboration Half the portfolio is Blackrock index-tracking funds and the other half is a tactical active overlay run by PAM Pacific Asset Management (PAM) has partnered with Blackrock to launch a range of model portfolios it says offers advisers a “credible alternative” to outsourcing to a traditional discretionary fund manager. PAM said the five multi-asset portfolios are designed to bridge the gap between advisory and DFM model portfolios by addressing the main issues advisers face running in-house advisory models across multiple platforms. The portfolios, known as Pacific Model Portfolio Solutions: The iShares Edition, are split into two elements: an “efficient” half consisting of equity and fixed income index-tracking funds run by Blackrock; and a “dynamic” half which is an actively managed tactical overlay using PAM’s unitised multi-asset fund structures to tilt exposure depending on market conditions.