01 / The Thesis
Every large portfolio runs an overlay.
No brand owns the word.
Tax overlay. Currency overlay. ESG overlay. Completion portfolios that keep multi-manager structures coherent. The overlay manager sits above it all — rebalancing, harvesting losses, managing risk across sleeves.
It is one of the highest-margin businesses in asset management. And the firms that do it describe themselves with paragraphs, because no one owns the two words that say it.
// the pitch, compressed
if (domain == "portfoliooverlay.com") {
explanation = null; // the name is the pitch
}
if (domain == "portfoliooverlay.com") {
explanation = null; // the name is the pitch
}
