Monthly NTA update - March 2026
Monthly Updates
Welcome to the monthly update for Neverwinter Fund I SLP for March 2026.
The fund returned 3.11% over the month compared with the benchmark S&P500 return of -2.56%.
March was the first positive month for crypto markets since September 2025. While global equities continue to be affected by oil prices, geopolitical uncertainty and AI disruption, crypto markets at last seemed to act as a buffer for investors, with BTC up 3.84% and ETH rising by 11.25% over the month.
BTC’s mid-month retracement to the US$65,000 – $66,000 range proved significant. This level was tested three times towards the end of the month (and once again in early April), and each time it was met with a spike in trading volume indicating strong institutional and retail demand. Bitcoin seems to have established somewhat of a price floor around this level.
The price has since recovered and is currently trading in the low to mid $70,000 level. Based on current indicators, the outlook for the coming weeks appears increasingly favorable.
Algorithm update
A common misconception about algorithmic trading is that it is a ‘set-and-forget’ proposition, and that once an algo is live it looks after itself. This isn’t the case. In practice, our development and trading teams are constantly working on refinements and improvements to our algorithm and trading systems.
In March 2026 we deployed one such update to the Neverwinter algorithm which has improved the efficiency with which trades are executed. Based on live trading data, the update has had a positive impact on performance.
