August 2024 Monthly Performance
August 2024 Monthly Performance
| AUGUST 2024 PERFORMANCE |
| AUGUST: -6.5% CCI 30: -13.0% 12 Months: +51.5% SINCE INCEPTION: +275.2% |
| Market Update The Cryptocurrency and Digital Assets (“Crypto Assets”) markets had a tumultuous August, starting with a sharp pullback due to the unwinding of the Yen carry-trade and an increase in geopolitical risk. This was followed by a strong recovery driven by the Fed communicating interest rate cuts in the near term. The market then pulled back into the end of the month after the arrest of Telegram CEO Pavel Durov, a strong advocate of free speech and decentralisation. These events have had a short-term impact on the price of crypto assets but no impact on the value and use case of crypto assets as the user base continues to grow with rapid adoption by both institutional and retail investors. The user base is expected to reach a billion users by the end of 2025 and commensurately our view continues to be that we are in the early phases of a secular bull market. The fund remains strategically positioned to take advantage of such a rally into the year end and 2025. The market as represented by the CCI30 Index was down -13% and BTC was down -8.5%. An initial soft estimate for The Portal Digital Fund was down -3.5% whilst the Radiance Multi-Strategy Fund was down -11% for July. |
| AUGUST PERFORMANCE |
| AUGUST: -12.0% CCI 30: -13.0% 2023: +76.5% SINCE INCEPTION: -1.67% |
