NICHX Commentary


The Variant Alternative Income Fund (the “Fund”) returned 2.20% in the fourth quarter of 2022, in a period of positive performance across markets.  Over the quarter, the Fund outperformed investment...


The Variant Alternative Income Fund (the “Fund”) celebrated its 5-year anniversary at the end of the third quarter.  Over the history of the Fund, the portfolio has delivered an 8.92%...


The Variant Alternative Income Fund (the “Fund”) returned +1.99% in the second quarter of 2022, during a period of extended market volatility across asset classes. Over the quarter, the Fund...


The Variant Alternative Income Fund (the “Fund”) returned +2.01% in the first quarter of 2022, during a period of sharp market volatility across asset classes. Over the quarter, the Fund...


The Variant Alternative Income Fund (the “Fund”) returned +2.18% in the fourth quarter of 2021, during a period of modest market volatility across asset classes. Over the quarter, the Fund...


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...