Commentary

The Variant Alternative Income Fund (the “Fund”) returned +3.12% in the third quarter of 2021, during a period of heightened market volatility across asset classes. Over the quarter, the Fund...

The Variant Alternative Income Fund (the “Fund”) returned +3.49% (institutional share class NICHX) in the second quarter of 2021, during a period of risk on activity with consistent market volatility...

The Variant Alternative Income Fund (the “Fund”) returned +2.98% (institutional share class NICHX) in the first quarter of 2021, during a period of heightened market volatility across asset classes.  Over...

The Variant Alternative Income Fund (the “Fund”) returned +2.25% (institutional share class NICHX) in the fourth quarter of 2020, during a period in which risk assets performed well.  Over the...

The Variant Alternative Income Fund (the “Fund”) returned +1.41% (institutional share class NICHX) in the third quarter of 2020, during a period in which risk assets generally performed well.  Over...

The Variant Alternative Income Fund (the “Fund”) returned +0.95% (institutional share class NICHX) in the second quarter of 2020, during a mostly risk-on recovery across financial markets.  Over the quarter,...

The Fund (NICHX) returned +1.15% in the first quarter of 2020 amid the unfolding COVID-19 pandemic and resulting market volatility.  With the economic outlook swiftly deteriorating, the Fund underperformed investment...

The Fund (NICHX) returned +2.67% in the fourth quarter of 2019, outperforming investment grade bonds and performing in line with high yield corporate debt and hedge fund indices.  For the...

Q319 Commentary The Fund (NICHX) returned +2.97% in the third quarter of 2019, outperforming investment grade bonds, high yield corporate debt and hedge fund indices.  Over the trailing year ending September...

Q219 Commentary The Fund (NICHX) returned +2.97% in the second quarter of 2019, outperforming high yield corporate debt and hedge fund indices but underperforming investment grade bonds by a small margin. ...