The first quarter of @MNFund_ is over and we're happy with the results.
Usually, the September period is a terrible period for #Altcoins and that could impact the overall returns of a portfolio.
However, we've scaled out of $ETH (75%) at the end of August and early September and scaled back in late September.
For more information, go to:
September delivered what it often does: higher volatility and mixed returns across assets.
#Ethereum fell -12.4% intramonth and closed -5.60%. #Bitcoin rebounded +4.96% after August’s decline. Gold pushed to new highs near $3,900, up +11.94%.
How we navigated it:
Core Holdings: consistent with our risk framework, we scaled out ~75% of $ETH from the August high. During the mid-month correction, we re-added ETH in stages and increased $ARB, focusing on liquid, high-quality names.
Volatility Trading: trend shifts and intramonth reversals made execution challenging. On the way down, a lot of orders got filled, indicating that there is a good amount of unrealized profits. These trades are starting to rotate already with the opening of October.
Our first quarter trading with MN Fund concluded with a net return of +8.42% net for our investors. As we enter Q4, we’re prepared for shifting liquidity and the first OTC unlocks. As always, we will continue to navigate the volatile market conditions.
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