December marked a difficult month of trading with the markets opening the month with 30%+ drawdown in just two days before spending the rest of the month bouncing around on high volatility and minimal directional bias. With the exception of LUNA & MATIC both finishing up ~40% on the month, the rest of the Fund’s tradeable universe ended the month down (20-30%).
Despite the lackluster top-line number, the Nest Fund stayed true to its objective experiencing half the volatility and half the drawdown of a buy & hold approach for the month. The Nest Fund continues to focus on systematically identifying market trends and relative outperformance across large-cap cryptocurrencies with a goal to drive better risk-adjusted returns than a buy and hold approach.