We hope this quarterly report finds you well. As we move through the final months of 2025, we’re pleased to share with you the latest insights and performance of the Derivatix fund.

Market Summary

The US equity markets delivered another strong quarter in 2025, extending the bullish momentum witnessed over the past year. The S&P 500 reached new all-time highs, powered by resilience in large-cap technology stocks, robust corporate earnings, and continued investor optimism about the US economic outlook. While inflation pressures moderated compared to 2024, shifting Federal Reserve signals and evolving interest rate expectations did inject renewed volatility at times. Sectors such as artificial intelligence, renewable energy, and healthcare remained bright spots, with increased capital flows driving gains. Nonetheless, select macro risks—including geopolitical tensions, pockets of persistent inflation, and shifts in global capital markets—kept risk management at the forefront for active managers.

 

Derivatix Fund Performance

As of Q3 2025, Derivatix has delivered a year-to-date return of 6.3%, with long-term returns of 312.5% since inception and an average annual return of 15.0%. While this year’s pace trails the S&P 500, our disciplined approach remains focused on consistent performance and risk management across cycles. Core strategy highlights include strong downside protection and reduced volatility compared to major benchmarks.