Portfolio uses the concept of Parent Link and has a customfield.
We Should support this in Automation for Jira:

• Field value changed trigger - Automation Field Value Change Trigger should work with Parent or Epic Link changes - The Automation Field Value Change Trigger does not allow you to select the Epic Link field to trigger actions based on an issue's Epic Link changing. It also does not allow you to select an issue's parent changing to trigger an action.

• Setting/editing on field actions

• Branch traversal

• smart-values
  We are however searching for a method to (automatically) copy comments from high level issue types/Initiatives to 'lower' levels, or to set specific fields based on a issue transition on a higher level.