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And Australia s Favourite Sector Is..? What if I asked you which sector is the long term favourite among institutional investors in Australia? Banks? Healthcare? Bulk commodities producers? The answer will surprise you, as it is Consumer Discretionary. Analysts at JPMorgan, who run a monthly survey among domestic fund managers and thus have access to a wealth of data, reported last week the Consumer Discretionary sector has been the most persistent Overweight in institutional portfolios in Australia. Further adding to the sector s favourite status among institutions is the observation the average large Overweight positioning (relative to the actual index weighting) is well, well above the number two, which at present is the Materials sector. ....