You are a fund manager of a diversified portfolio that has exposure to asset classes including cash, fixed interest, domestic equities and international equities. You are worried that the impact of the lockdowns in Melbourne may have an adverse impact on Australian equity returns. As a result, as the probability of a lockdown in Melbourne increased, you reduced the weight of your exposure to domestic equities and increased your exposure to fixed interest. This is an example of: Select one: a. Strategic asset allocation b. Active security selection c. Transaction cost minimisation d. Asset/Liability Management e. Tactical asset allocation