May 2022 Market Commentary and Performance
May 2022 Market Commentary and Performance
| Portal Digital Fund | Horizon Index Fund |
| May: -12.1%* | May: -30.1% |
| YTD: -23.7% | YTD: -60.6% |
| 2021: +83.1% | Since Inception: -60.6% |
| Since Inception: +130.9% |
Market Commentary from Mark Witten, CIO
Market Macro
May was a deceptive month as there was a flight to safety due to the UST/Luna collapse, with the result that Bitcoin and Ethereum were ‘only’ down -16% and -27% vs many other
leading alt coins down as much as -50% to -70% in some instances. As discussed in our April Market Commentary, inflation expectations are being driven by unrelenting
pressure in energy prices and worries around disruption to the food supply chain. We believe that these concerns are now being overhyped.
Download full commentary.
Download Portal Digital Fund performance.
Download Horizon Index Fund performance.