August 2022 Market Commentary and Performance
|Portal Digital Fund||Horizon Index Fund||Radiance Global Fund|
|August: -3.9%||August: -9.9%||August: -8.81%|
|YTD: -31.7%||YTD: -67.2%||YTD: -8.81%|
|2021: +83.1%||Since Inception: -60.6%|
|Since Inception: +106.8%|
Market Commentary from Mark Witten, CIO
The strong bounce that started in July with BTC rallying 26% off its lows and the overall market (represented by the CCI30 Index) up 47%, came to an end as cryptocurrencies and digital assets (“crypto assets”) fell in the last two weeks of August, with BTC down -14%, and the overall market down -11%. The Portal Digital Fund finished down -3.9%. The current market cap of the entire crypto asset space is just below $1 trillion, which is around -70% below its $3 trillion peak in November 2021, some 9 long months ago.
Portal Digital Fund
The Portal Digital Fund finished down -3.9% net of fees with Bitcoin down -14% and the broader market as represented by the CCI30 Index down -11% in August.
Horizon Index Fund
The Horizon Index Fund was down -9.9% for August 2022, in line with the broader market.
Radiance Global Fund