Overlay Services

Control cash, currency, or asset class exposures using systematic risk overlay strategies to reduce daily operational burdens and streamline access to market opportunities.

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Russell Investments' seasoned specialists provide you with the expertise and resources to design and implement a customised investment framework to improve the visibility and control of the underlying exposures in your portfolio.

Our comprehensive overlay programme brings the resources and experience to help your organisation:

Reduce the operational burden

Improve portfolio risk/return profile

Lower transaction costs

Our suite of overlay services

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Cash
equitisation

Maintain your liquidity and desired market exposure by using derivative overlay strategies to access equity and/or bond exposures. When cash levels change our turnkey management service adjusts those exposures and handles all downstream aspects of managing those positions.

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Policy implementation

A disciplined rebalancing plan helps to manage the drift in exposures from your Strategic Asset Allocation (SAA) over time. With daily oversight of portfolio positioning, our team manages exposures to asset classes via overlay transactions effectively solving cash drag and rebalancing policy issues simultaneously.

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LDI and dynamic de-risking

As funded situation improves risk tolerance often reduces. An overlay provides a cost-effective and timely implementation of the new target exposures and achieves the desired asset allocation when market opportunity arises. A common form of such a mandate is an LDI glide path which, systematically implements the asset allocation and hedge ratio changes quickly as targets are met.

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Downside risk management

Reduce the magnitude of drawdowns in portfolio value from significant market declines. Russell Investments offers risk management tools to support institutional investors in managing and maintaining their exposure to risk over the long term without bearing the full downside risk of major market corrections.

Why choose Russell Investments as your overlay portfolio management partner?

Six important factors:

Dedicated specialist team

Dedicated specialist team

A dedicated portfolio manager with low client-to-portfolio-manager ratio and access to asset class specialist traders.

Continuous coverage

Continuous coverage

24-hour multi-asset trading: Asset class specialists cover a network of developed and emerging markets.

Customised solutions

Customised solutions

Tailored global futures baskets and OTC expertise to better manage risk and seek improved returns.

Flexible approach

Flexible approach

Extended capabilities deliver total exposure management with solutions adapted as your portfolio changes and grows.

FX expertise

FX expertise

Protect your portfolio from currency movements using industry-leading FX platform and specialist FX traders.

Robust risk management

Robust risk management

Detailed compliance protocols with separated compliance review and agency-only approach.

£54.6 B

Managed in overlay services globally

140

Number of overlay clients in 2024

35+ years

Experience in overlay management

12

Dedicated team members

13

Average years of industry experience

Source: Russell Investments. Data as of December 31, 2024 unless otherwise noted.

Tech-enabled client solutions

Our global team of overlay specialists is experienced at tackling the more complex and challenging investment problems facing institutional investors using our proprietary technology and systems.

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Proprietary system for aggregating account-level data to enable overlay management

24 hour agency-only global trading desk

24-hour agency-only global trading desk with specialisation by market segment

Proprietary quantitative systems

Proprietary quantitative systems for managing futures tracking error to customisable benchmarks

Seamless integration

Seamless integration of physical and overlay trading via trade order management system for more complex solutions

Customised Portfolio Solutions

Specialist expertise and strategies to help your team gain greater portfolio control, limit costs, reduce risk, and enhance returns.

Overlay services

An essential tool for managing large pools of capital as derivative overlays help manage risk elements and improve performance.

Completion portfolios

Maximise control of risk-adjusted returns and reduce production cost while aligning investments with your beliefs - all through a multi-manager approach.

Currency Management

Manage foreign exchange (FX) trading costs and currency risk by drawing upon our currency investment team and FX trading specialists.

Enhanced Portfolio Implementation


A platform designed for asset managers that combines all advisory models and investment insights into one centrally managed, segregated account.

A unique business model, client-centric approach and seasoned team results in more reliable performance and outcomes for your transition. Let us put together a clear, outcome-oriented plan for your next transition. Contact us today.

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Get in touch with us through this form and we'll reach out to you.

Maarten Roeleveld

Managing Director, Head of Customised Portfolio Solutions, Europe

About Maarten

Transition Management Services offered by Russell Investments Implementation Services, LLC., member FINRA / SIPC.

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