September 2022 Market Commentary and Performance
|Portal Digital Fund||Horizon Index Fund||Radiance Global Fund|
|September: -4.7%||September: +4.4%||September: -1.18%|
|YTD: -27.6%||YTD: -65.8%||YTD: -10.50%|
|2021: +83.1%||Since Inception: -60.6%|
|Since Inception: +98.1%|
September was a challenging month for funds to trade. BTC initially rallied 10% whilst ETH and the overall market rose 14% in the first 12 days of September leading up to the impressively smooth and successful ETH merge on the 15th of September.
We believe that crypto assets provide the best long-term opportunity of all asset classes and will outperform significantly when the global macro-economic conditions moderate. We believe that institutions are underestimating long-term fiat currency debasement risk while overstating crypto-asset risks.
Portal Digital Fund
For Quarter 3, The Portal Digital Fund finished down -1% vs BTC which finished down -2.7% and the CCI30 Index which finished up +11.7%.
YTD the PDF is down -34% vs BTC down -60% and the CCI30 Index down -63%.
Horizon Index Fund
The Horizon Index Fund was up +4.4% for September 2022, in line with the broader market.
Radiance Global Fund