June 2021 Webinar Presentation - Portal Asset Management
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June 2021
Webinar Presentation
0
Who We Are
The Portal Digital Fund is an uncorrelated, alternative investment fund that operates as a global
multi-strategy that invests in digital currency funds.
The fund targets returns of 25% pa net of fees with 15% volatility and monthly liquidity.
1
Performance Measures
Returns & Ratios 1 month 3 month 6 month 1 Year Since Inception
Return -8.3% 8.6% 62.7% 82.9% 148.8%
CCI Index -34.9% 23.0% 183.2% 462.5% 308.3%
Bitcoin (BTC) -35.4% -17.8% 89.2% 294.0% 249.0%
Volatility 26.3% 21.9%
CCI30 Volatility 94.8% 94.4%
Sharpe Ratio 84.5% 78.3%
Beta 0.21 0.17
Sortino Ratio 2.96 5.46
Monthly VaR (95% CI) -7.35% -5.30%
% Positive Months 78%
Best Month 17.8%
Worst Month -8.3%
Correlation to Index 0.77 0.70
Notable News Flow
• El Salvador President Nayib Bukele Announces Plan to Adopt Bitcoin as Legal Tender
• Bloomberg Article: There’s a New Vision for Crypto, and It’s Wildly Different From Bitcoin
• MicroStrategy Announces Proposed Private Offering of $400 Million of Senior Secured Notes To Buy More Bitcoin
• DeFi Protocols Generated More Than $370 Million in Revenue During May
• Federal Reserve says "DeFi may lead to a paradigm shift"
• April inflation report renews fears over inflation
• Hedge fund giants Point72 and Millennium enter DeFi
• The world's top macro investors back a new $10bn crypto exchange
• Coinbase & Binance go down, highlighting appeal of decentralized exchanges
• Wells Fargo unveils their first crypto strategy
• Carlyle Group founder: "Cryptocurrency is here to stay"
• Ray Dalio: "I Have Some Bitcoin"
• Wharton Business School: "DeFi to transform global finance"
• Biden unveils $6-8 Trillion spending plan, highest since WWII
• Guggenheim launches a new fund seeking exposure to crypto
• Hedge Fund Manager Brevan Howard Investing in Digital Assets - Blockworks
• Andreessen Horowitz's third crypto fund is in talks to raise $2 billion
• Carl Icahn's $1.5 Billion Crypto Investment Backs Buy the Dip Strategy
3
Banks and Payments
4
Retail and Industrials
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Institutional Investors
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Billionaire Salinas Says He’s Working for His Bank to Be First in Mexico to Take Bitcoin
Headlines This Week
• Billionaire Salinas Says He’s Working for His Bank to Be
First in Mexico to Take Bitcoin
• Iran’s Ministry of Industry Issues 30 Licenses to Crypto
Mining Farms
• El Salvador’s Bitcoin Law Effective September, E-
Wallets to Get $30 Worth of Crypto
7
Amazon – Bubbles in Perspective
• Amara’s Law: We tend to overestimate the effect of a technology in the short run and underestimate the effect in
the long run.
• Bubbles: We get overexcited about a new technology and we drive up prices beyond any reasonable valuation.
The internet bubble lasted 5+ years.
• It still feels like were in the early stages of a Cambrian Explosion in crypto.
• Cambrian period enabled the creation of a multitude of new life forms, the emergence of blockchain,
cryptocurrency, and decentralization, is opening up a wide range of previously unavailable markets, as well as new
ways to compete against entrenched incumbents.
• Given that view, I think the three charts below give additional perspective to the crypto crash debate.
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Amazon: 1997 – 1999 (70X Return!)
9Amazon: 1999 – 2001 (95% Correction!!)
10Amazon: 1999 – 2021 (2150X, or 36% c.p.a!!!)
Tipping Point
11The Team
Mark O. Witten Deryck Graham
Chief Investment Officer Founder, Chief Executive Officer
Specializing in equity analysis and hedge fund management, Mark has almost 20 years of experience Over 30 years’ experience building and listing companies on the Australian Securities Exchange
in various roles within traditional and alternative asset management. and 19 years’ experience as a public company director.
Mark founded Kaizen Asset Management in 2010 as one of the first single-manager, multi-strategy Deryck cofounded QHL, Australia’s largest composite aerospace defence contractor with $800Mn
hedge funds in South Africa. He built the firm from seed capital of US$1m to one with US$250m in in contracts; launched, established a joint venture, and then sold Eagle Aircraft (which now forms
assets under management. part of Malaysia’s billion-dollar aviation industry).
Mark is a CFA Charterholder with a Bachelor of Commerce (Honours) cum laude, an MBA and is an As an active investor in the blockchain space, Deryck has been an angel investor for many years,
accredited Certified Financial Planner (CFP). and continues to advise national and international blockchain start-ups.
12The Team
Nitin Gaur Matt Spoke Stephen Fisher
Director, IBM WW Digital Asset Labs Founder at The Open Application Network Principal, FDAM
(Formerly the Aion Foundation)
Over two decades experience in the design and Accomplished blockchain professional, CEO of Moves, a More than 25 years’ experience as an investment
development of enterprise infrastructures and social finance company that supports workers in the gig professional.
applications, including solutions for Fortune 500 economy. Previously Founder and MD of AION Network, Previously, Stephen was Head of Global Fixed Income
companies in over 20 countries. Founder and Director of the Blockchain Technology Product – Asia Pacific at JPMorgan Asset Management.
Coalition of Canada, Founder and Director of Director of He has held roles with J.P Morgan Investment
Director of IBM’s Blockchain Labs, responsible for Enterprise Ethereum Alliance and past fintech advisor to Management in New York and Australia, including
instituting IBM’s organisational understanding around Ontario Securities Commission. Australian Head of Capital Markets Research and Asia
blockchain and industry specific applications. Pacific Regional Head of Capital Markets Research.
13The Team
Mignon Cloete Jules Chen
Senior Investor Relations Manager Investment Analyst
Mignon is the senior investor relations manager at Portal Jules is an Investment Analyst at Portal Asset Management. Her focus
Asset Management. She joins us with over 20 years’ is on digital assets and DeFi, with the goal of bridging the gap between
experience in client management roles, ranging from the crypto and institutional worlds. Prior to Portal, Jules has over 6
banking and retail finance, risk, insurance and financial years of experience in financial crime prevention, where she has been
planning. She joins us with qualifications in business responsible for analytics, strategy and client management. Jules holds
management, wealth management and financial planning. a Bachelor of Commerce with majors in Finance and Actuarial Studies.
14The Outcome
Portal takes this highly complex space, and provides a simple, effective solution that reduces
both its volatility and risk to provide investors very favourable absolute returns.
Tax efficient, full regulated and compliant, ‘set and forget’ investment with monthly liquidity
15Fund Terms
KEY TERM SUMMARY
Investment Manager First Degree Global Asset Management Pte Ltd.
Adviser Portal Asset Management Limited.
Administrator Circle Investment Support Services (Cayman) Limited
Auditor Cohen & Co (Cayman Islands)
Legal Carey Olsen Singapore LLP (Singapore)
Product Domicile Cayman Islands LLC
Minimum Investment US$100,000. Minimum subsequent investment US$50,000.
Fund Inception The Portal Digital Fund was registered to carry on a mutual fund business on 18 June 2019.
NAV Pricing Monthly
Subscriptions Monthly
Monthly, with 30 business days’ notice period. Redemption proceeds paid in cash within 30 days.
Redemptions Lock Up Period: 90 days after initial investment.
Suspension: Permitted if necessary, at FDGAM’s discretion, but unlikely to be needed.
None. All profits are reinvested in the Fund at the end of each month until the Fund reaches critical mass and Management Fees cover all working capital
Distributions
requirements.
Management Fees 2% p.a. calculated and paid monthly in arrears, based on the NAV of the Fund.
20% on any excess returns after deduction of the management fee, calculated and paid quarterly, subject to a high-water mark. The hurdle rate Is 5% with
Performance Fee
high-water mark.
Normal administration costs depending on funds under management. The establishment expenses of the Fund may be amortized over a period of 60
Other Fees
months from the date the Fund commenced operations.
16Mark O. Witten, CFA
Senior Portfolio Manager
First Degree Global Asset Management Pte. Ltd.
71 Ayer Rajah Crescent #01-17,
Singapore 139951
Office: (65) 6815 1993
Mobile: (+61) 488 743 101
www.firstdegree.asia
mark.witten@firstdegree.asia
www.portal.am Portal Digital Fund
deryck@portal.am The offer of Participating Shares in Portal Digital Fund is made solely pursuant to the terms set out in the offering memorandum for the Fund dated 10 February 2020.
A copy of the offering memorandum may be obtained from First Degree Global Asset Management Pte. Ltd., the Investment Manager of the Fund.You can also read
