Morningstar has added six portfolios to its Managed Account Portfolios program. The new strategies are part of an effort to offer focused portfolios to advisors seeking to gain added exposure to certain market segments. They can also be used to diversify portfolios overly concentrated in some sectors, according to the firm.

Morningstar declined to reveal the identity of the managers or the funds included in the new portfolios.

"Our Focused Strategies portfolios are designed to give advisors additional investment options and a distinct way to provide further diversification for their clients," said Art Lutschaunig, president and chief investment officer of Morningstar Investment Services in a statement. "Advisors can use the Focused Strategies to complement an existing client portfolio to create more exposure in a particular area, to fill a gap in the client's holdings, or as building blocks to develop portfolios crafted around his or her particular needs."

The release said that the Focused Strategies series consists of four portfolios based on specific investment styles and two portfolios based on differing investment strategies. The four style-specific portfolios are Eclectic Value, Multi-Cap Growth, Small and Mid-Cap Equity, and Foreign Equity.

The two strategy-specific portfolios are the Concentrated Alpha Portfolio, which focuses on globally diversified equities, and the Retirement Income Portfolio, which invests in both equity and fixed income funds as a conservative retirement solution. 

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