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Performance reports

Monthly report: August 2025

4 September 2025 · By Evgenii Voronchikhin

Line chart of cumulative return since 1 January 2024 for Classic Diversified and Classic Stable against Bitcoin, BITA Crypto 10, the S&P 500 and gold, as of 31 August 2025.
Cumulative return since 1 January 2024, gross of fees, as of 31 August 2025. Logarithmic scale.

August was a quiet month for the Classic strategies. Classic Stable returned +0.52%, close to zero, and Classic Diversified returned −1.35%. Bitcoin returned −6.49% over the same month.

Performance

August 2025 and year to date
AugustYear to date
GrossNet 25%GrossNet 25%
Classic Diversified −1.35%−1.35%+29.24%+11.07%
Classic Stable +0.52%+0.52%+24.84%+10.45%
Longer periods
12 monthsSince 1 January 2024
GrossNet 25%Gross
Classic Diversified +123.74%+83.60%+416%
Classic Stable +75.51%+49.77%+277%
Returns to 31 August 2025.

Portfolio manager’s comment

The crypto market moved in different directions in August, and volatility stayed low. Bitcoin set a new all-time high during the month and then slid back. It ended August with a return of −6.49%.

Moves of that kind give trend-following algorithms little to work with. Classic Stable held its collateral in stablecoins and ended the month near zero, at +0.52%.

Classic Diversified holds part of its collateral in bitcoin, so it followed Bitcoin lower. Its loss of −1.35% was far smaller than the fall in Bitcoin itself, which the diversified collateral helped to limit.

The longer view

The past months brought the usual summer lull. Autumn tends to bring higher volatility to global markets, and the algorithms earn from price movement, so volatility is the condition in which they work best.

Over the year to date, Classic Diversified returned +29.24% and Classic Stable +24.84%, against +15.67% for Bitcoin. Since 1 January 2024 they have returned +416% and +277%, with reinvestment and before performance fees.

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How is performance measured? Why does my exchange dashboard show a different number?

Daily time-weighted returns (TWR) with compounding, computed from the unrealised margin balance of each strategy's reference portfolio, denominated in USDT and rebased to 0.00% on 1 January 2024 for the public chart. TWR is the industry-standard methodology that eliminates the distortive effect of capital movements (deposits and withdrawals) on the percentage return. Exchange dashboards (OKX, Binance, Bybit) use simplified estimation methods that do not properly handle transfers, so their headline percentage will differ. The absolute dollar-denominated P&L on the exchange dashboard remains correct; only the percentage is affected.

What is the fee structure, and how does the high-water mark work?

Zero management fee, zero entry fee. A quarterly performance fee of 25–30% (tiered by allocation size) on Net Trading Profits above a rolling high-water mark. Formula: P = E − MAX(B, HW) − I, where E is the ending balance, B is the starting balance, HW is the rolling high-water mark, and I is net inflows/outflows. If the account falls below the HWM, no fees are levied until the deficit is fully recovered through trading gains. Clawbacks are explicitly not applied. Classic Diversified and Classic Stable both use the NAV-based variant (AMA §1.1.18(a)); the Isolated USDT variant (§1.1.18(b)) applies only to Custom-Collateral accounts. Fee tiering is documented in Exhibit 1 of the Asset Management Agreement.

How can I independently verify the live track record?

Via TradeLink Passport, which streams each strategy's reference portfolio through a read-only exchange API. Links to the Classic Diversified and Classic Stable portfolios are on the Classic Diversified and Classic Stable pages. On request, Algotoria will additionally provision read-only API keys to your designated auditor or verification platform, giving direct access to the full trade history and daily return series on the underlying exchange accounts — so you can reconstruct and verify every published metric without relying on firm-generated reports.

What drawdowns should I realistically expect?

Typical annual drawdowns of 20–25% on Algotoria Classic Stable, 15–30% on Algotoria Classic Diversified. Historical back-tests reached 30%. Drawdowns beyond these ranges trigger a formal Investment Committee review.

All drawdown figures quoted on this site — and the agreed drawdown budget selected during onboarding — are measured on the gross trading-account return curve, before deduction of Algotoria's quarterly performance fee. Net-of-fee drawdowns experienced by the investor are larger by construction. Worked example: for Algotoria Classic Stable over 2024-01-01 → 2026-09-30, the adjusted maximum drawdown is −24.7% gross, −30.2% net of a 25% fee, and −31.3% net of a 30% fee.

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Algotoria Limited is a BVI-regulated Approved Investment Manager under the Securities and Investment Business Act, 2010. The content on this page is informational and does not constitute an offer to sell securities or investment advice. Services are available to qualified investors only. Past performance is not indicative of future results.