A fluid loss additive for hydraulic cement, comprising a polyvinyl alcohol resin and a fluid loss ameliorating sulfonic acid-functionalized co-resin, where the polyvinyl alcohol has a characteristic viscosity in the range of about 1 to about 25 cps. The invention includes, in some embodiments, an aqueous concentrate of the PVOH resin and the sulfonic acid-functionalized co-resin, where the total resin content is in the range of about 10% to about 40% and the viscosity is less than 15,000 cps. By way of the invention it is possible to adjust hydraulic cement slurry characteristics in real time upon demand and reduce inventory by providing a concentrated aqueous fluid loss additive.