Speaking ahead of Sunday’s Anzac Day blockbuster with Essendon, Malthouse said the Pies were confident Fraser - who has booted one goal from four games this year - could fill a more permanent role in attack or through the midfield.
“I think Josh is adjusting to a second ruck role,” Malthouse said before training on Thursday.
“There’s no question that Darren Jolly is our principle ruckman at this stage."
Malthouse said the adjustment from spending the majority of the match as a ruckman to combining that role with another was something Fraser is still coming to grips with.
“He’ll spend 50 per cent in the ruck and probably 25 to 30 per cent as another type of player, whether it be an additional midfielder, wing or forward", he said.
“And when that settles in and he starts to gain confidence in that, he’ll be the player we want him to be.”
The coach was reluctant to play two specialist ruckman for much of last year but with Jolly joining the Pies in 2010, Malthouse is happy to persist.
“Both players can play in other roles,” he said.
“Jolly hasn’t had the opportunity as often [up] forward but we saw last week when he went forward that he kicked one or two goals
"I’m fairly comfortable that we can get the arrangements right that both have quality time on the ground.”
Collingwood enters Sunday’s clash with the Bombers in red-hot form after belting Hawthorn last week. However, the coach hinted at changes.
Malthouse said a couple of his players were sore and would be tested, which could pave the way for the in-form Chris Dawes to earn a call-up from the VFL, or the dumped Shane O’Bree to gain a recall.
Last week the coach said dropping the veteran midfielder had been among the toughest calls of his previous 12 months.
“We’ll see how they (the sore players) train or if they do train and that will give us an idea of what sort of side we’re going to pick,” Malthouse said.
“Shane went back and played, in Gavin Brown’s assessment, very, very well.
“They [the VFL side] came back from a 20-point deficit at three-quarter time and won the game, [and a lot of that] was through Shane O’Bree’s ability to get the players in the right structure, so he’s done no harm in his cause to get back.”
The Anzac Day match between Collingwood and Essendon will be televised live around Australia on Channel 7