September 2023 Market Commentary and Performance
September 2023 Market Commentary and Performance
| Portal Digital Fund | Radiance Fund |
| September: +0.1* | September: +6.54% |
| YTD: +3.7% | YTD: +12.73% |
| Since Inception: +81.7% | Since Inception: -33.13% |
| Download Full Performance | Download Full Performance |
Market Commentary from Mark Witten, CIO
Cryptocurrency and Digital Assets (“Crypto Assets”) markets remained challenging in September with continued low volatility driven by subdued retail participation. This has been compounded by continued macro headwinds across the board. In addition, the escalation in global conflict sparked by the Israel/Palestine war has raised fresh concerns around inflation as oil has risen back above $90 barrel on supply concerns.
This could potentially lead to higher interest rates in the short term, but we still maintain that inflation and rates are headed down in the medium term, depending on the exogenous shock to oil prices driven by this renewed geopolitical tension.