Praxis Digital Asset

Under Review

Momentum / trend-following · Marshall Islands · Inception 2021-04

Illustrative — pre-launch sample data, not actual manager performance.

1Y ann.+63.4%

3Y ann.+44.7%

5Y ann.—

10Y ann.—

Sharpe (3Y)3.86

Sortino (3Y)7.79

Max drawdown-2.6%

Cumulative TWR vs benchmark

Monthly, since inception

Manager TWR Benchmark Drawdown

Locked benchmark

Bitcoin (BTC)

Pre-registered at engagement scoping. Cannot be retroactively changed.

1Y-38.2%

3Y-31.9%

5Y—

Liquidity profile

Median position liquidity$22.0M

AUM$47.0M

Verified history56 months

Raising statusSoft-close

Strategy

Submitted as systematic momentum on top-15 large-caps. Currently under review — anomaly screening flagged monthly return distribution for further investigation.

Composite construction

All discretionary fee-paying accounts following this strategy are included in the composite per GIPS Provision 3.A. The engagement memo enumerates the in-scope entities and any sub-advised accounts that would otherwise meet the discretion criteria but are excluded for documented reasons.

Composite dispersion is reported as the asset-weighted standard deviation of constituent account returns. 3-year ex-post standard deviation is reported once 36 months of composite history is available.

Annual return breakdown

Trailing-window annualized returns. For verified strategies with full calendar-year history we publish calendar-year returns alongside; this preview uses rolling 12-month windows from the most recent month.

Y-3

+56.9%

Y-2

+42.5%

Y-1

+30.2%

Y-0

+63.4%

GIPS-aligned disclosures

Returns are presented gross of management and performance fees. Net-of-fee returns available on request and in the LP data room.
Composite includes all discretionary fee-paying accounts following the momentum / trend-following strategy as enumerated in the engagement memo.
Benchmark: Bitcoin (BTC), locked at engagement scoping.
Valuation: positions marked at VWAP across qualifying venues. Concentrated illiquid positions subject to liquidity-adjusted fair-value haircut per Assay's methodology.
Custody: position custody arrangement disclosed in the engagement memo. Withdrawal permissions are not granted to Assay; we hold read-only access.
Past performance is not indicative of future results.

Verification status

Engagement in progress. No verification opinion has been issued yet. Anomaly screens are flagged for further review.

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