May 2023 Market Commentary and Performance
May 2023 Market Commentary and Performance
| Portal Digital Fund | Horizon Index Fund | Radiance Global Fund |
| May: -3.8% | May: -5.3% | May: -6.9% |
| YTD: +8.2% | YTD: +32.8% | YTD: +20.2% |
| Since Inception: +89.4% | Since Inception: -60.9% | Since Inception: -19.1% |
Download:
Portal Digital Fund Performance
Horizon Index Fund Performance
Market Commentary from Mark Witten, CIO
May was a largely uneventful month, which was a welcome relief after the spike in volatility in April. Bitcoin has remained range-bound between $27k and $30k. One of the main drivers of this flatlining of volatility is that liquidity has fallen as both volumes and retail flows have slowed since February. The Portal Digital Fund finished May down -3.8% net of fees vs the market as represented by the CCI30 Index down -6% and Bitcoin down -7% respectively.