Portfolio Overlay Strategies are valuable tools for institutional, family office and high net worth investors aiming to enhance returns, manage risk, and improve portfolio flexibility. Portfolio Overlay Strategies are particularly relevant and important when specialist asset class mandates are utilised rather than multi asset class mandates. These overlay strategies add an additional layer of active management i.e. (tactical asset allocation) as well as protection mechanisms (i.e. hedging) to an existing portfolio without impacting the existing underlying investment manager portfolios. In such cases, the asset allocation and hedging is managed from a top-level view by GraySwan.