The new investment menu was developed in response to feedback from advisers, who said customers were demanding greater flexibility and product choice.
The new investment menu is divided into nine major asset classes with 22 subclasses to facilitate navigation.
"A priority when introducing the additions to the Pursuit Select platform was to ensure we maintained a focused approach to balancing the quality and quantity of our funds, while still delivering concise and easy navigation," IOOF head of product and marketing Nick Everingham said.
"The new investment menu will enable us to better meet demand for asset classes such as protected cash, infrastructure, commodities and alternatives, as well as a wide range of specialist sectors."
The economic crisis has led to an increased demand for protected cash funds.
To cater for this demand IOOF has introduced the Perennial Protected Cash Trust, which invests in short-term, interest-bearing securities that are explicitly guaranteed by the federal government.
"In times like these, most investors are looking for something that will help them sleep better at night," Everingham said.
