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Mansa-X Fund by SIB. Anyone who has invested with them?
MaichBlack
#1 Posted : Friday, July 24, 2020 7:04:54 PM
Rank: Elder


Joined: 7/22/2009
Posts: 7,341
I have done a bit of reading on Mansa-X fund by Standard Investment Bank and I liked what I read BUT the Writeup is by SIB themselves so it will only have juicy marketing info.

I would like to hear from Wazuans who have invested with them focusing on:-

1) Actual annual returns over the years.

2) How they breakdown costs due from you.

3) Any hidden costs.

4) Withdrawing from the fund - ease/difficulty,process, costs etc.

Any other relevant information.
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
winmak
#2 Posted : Friday, July 24, 2020 8:05:12 PM
Rank: Member


Joined: 12/1/2007
Posts: 521
Location: Nakuru
I asked this’s same question but never got an answer
For investors as a whole, returns decrease as motion increases ~ WB
MaichBlack
#3 Posted : Friday, July 24, 2020 8:57:04 PM
Rank: Elder


Joined: 7/22/2009
Posts: 7,341
winmak wrote:
I asked this’s same question but never got an answer

Let's hope this time round a few people who have invested with them will come across the thread.
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
kmucheke
#4 Posted : Friday, July 24, 2020 11:15:47 PM
Rank: Member


Joined: 3/16/2019
Posts: 227
MaichBlack wrote:
winmak wrote:
I asked this’s same question but never got an answer

Let's hope this time round a few people who have invested with them will come across the thread.


It is true what you said earlier, most of the info about Mansa-X available online is sponsored content and needs to be verified by another party.
I also hope someone who has invested can share the experience and finer details.

This is what I've gathered so far about Mansa-X fund from online sources;

  1. SIB was licensed in December 2018 as the first Online Forex Trading Money Manager in Kenya, by the CMA. The fund was launched in January 2019 and closed at $3 million in 2019.

  2. Aims to attract more retail investors to its foreign exchange fund and grow it to $100 million in 2020.

  3. It is not a guaranteed fund and returns are not guaranteed.
    Minimum amount of Sh250,000 for at least six months.

  4. An initial fee of five per cent of the amount invested and an annual management fee of five per cent. The management fee is waived in the first year.

  5. If the fund makes a return above 25 per cent (hurdle rate), then it charges a fee of 10 per cent of the extra return.


The H1 Mansa-X fund fact sheet is available here as a pdf.
Tokyo
#5 Posted : Saturday, July 25, 2020 6:32:36 PM
Rank: Veteran


Joined: 10/9/2006
Posts: 1,477
I have invested in MansaX. They are kind of quick in account opening unlike other investment funds.( all online). The account numbers too looks Kind of simple considering the massive minimum amount. Account number Like 000123, 000124,000125 lacks confidence in this era. Just under a month “investor” . Not much to share.
work to prosper
Tokyo
#6 Posted : Saturday, July 25, 2020 6:36:56 PM
Rank: Veteran


Joined: 10/9/2006
Posts: 1,477
MansaX interests irresistible.
6months + is the right time to analyse
work to prosper
kmucheke
#7 Posted : Saturday, July 25, 2020 8:38:30 PM
Rank: Member


Joined: 3/16/2019
Posts: 227
Tokyo wrote:
I have invested in MansaX. They are kind of quick in account opening unlike other investment funds.( all online). The account numbers too looks Kind of simple considering the massive minimum amount. Account number Like 000123, 000124,000125 lacks confidence in this era. Just under a month “investor” . Not much to share.


Thank you for sharing.


I believe the account numbers are simple since they have few customers. (I think in the neighbourhood of 2,000)

The fund has just clocked in 6 quarters since inception and all the quarters registered positive returns. I believe more time is required to judge the fund.

Please share your when you clock 6 months.
deadpoet
#8 Posted : Saturday, July 25, 2020 8:52:40 PM
Rank: Member


Joined: 9/27/2006
Posts: 459
Well, at the end of the day mansa-x is forex and commodities trading. Determine for yourself whether a global economic collapse is ahead, and then act accordingly.
Siringi
#9 Posted : Thursday, August 13, 2020 8:40:08 AM
Rank: Elder


Joined: 6/8/2013
Posts: 2,517
Thanks @kmucheke i have been in a cave and missed. I have been inundated with their ads whenever i am i Zuckerbergland

www.sib.co.ke/Mansa X

Let me wait it out.
Most of the other guys and doing sub 9...
"😖😡KQ makes money for everyone except the shareholder 😏😏 " overheard in Wazua
maka
#10 Posted : Thursday, August 13, 2020 9:23:42 AM
Rank: Elder


Joined: 4/22/2010
Posts: 11,368
Location: Nairobi
deadpoet wrote:
Well, at the end of the day mansa-x is forex and commodities trading. Determine for yourself whether a global economic collapse is ahead, and then act accordingly.


Word....
possunt quia posse videntur
Balaa
#11 Posted : Thursday, August 13, 2020 1:17:26 PM
Rank: Member


Joined: 7/6/2018
Posts: 168
Location: Kinshasa
Tokyo wrote:
I have invested in MansaX. They are kind of quick in account opening unlike other investment funds.( all online). The account numbers too looks Kind of simple considering the massive minimum amount. Account number Like 000123, 000124,000125 lacks confidence in this era. Just under a month “investor” . Not much to share.


I'm not an advocate of handing over my money to someone else as their return (commission charges, etc) is assured and yours isn't. But my so-called "financial adviser" from SIB brokerage section has been urging me to "spread my risks by putting in some money in MansaX" because he reckons that my portfolio is highly concentrated on equities. I asked him for his statement of account to backup his claim of "standing to earn upto 24%", a request he did not take too kindly. (I always ask all solicitors for this kind of information, including Cytonn's).
@PKimani (of the Cytonn fame), you say that you have passion for forewarning potential investors; do you have any due diligence on this one?
If it don't make dollars, it don't make sense
Queen
#12 Posted : Thursday, August 13, 2020 1:38:50 PM
Rank: Member


Joined: 11/21/2018
Posts: 427
Location: Britain
Balaa wrote:
Tokyo wrote:
I have invested in MansaX. They are kind of quick in account opening unlike other investment funds.( all online). The account numbers too looks Kind of simple considering the massive minimum amount. Account number Like 000123, 000124,000125 lacks confidence in this era. Just under a month “investor” . Not much to share.


I'm not an advocate of handing over my money to someone else so that they can earn a fixed commission. But my so-called "financial adviser" from SIB brokerage section has been urging me to "spread my risks by putting in some money in Mansa" because he reckons that my portfolio is highly concentrated on equities. I asked him for his statement of account to backup his claim of "standing to earn upto 24%", a request he did not take too kindly. (I always ask all solicitors for this kind of information, including Cytonn's advances).
@PKimani (of the Cytonn fame), you say that you have passion for forewarning potential investors; do you have any due diligence on this one?


Our very own PK is an expert on matters Cytonn only, which I think is not particularly a bad thing.
Balaa
#13 Posted : Friday, August 14, 2020 12:37:49 PM
Rank: Member


Joined: 7/6/2018
Posts: 168
Location: Kinshasa
Just received this in my inbox.

Subject:Watch "Is MansaX a Safe Investment Option? | SIB Head of Compliance explains" on YouTube

https://youtu.be/oglVttAa-Lg

My take?: CMA regulation guarantees absolutely nothing; if an investment goes wrong you're on your own!!
If it don't make dollars, it don't make sense
kediveKed
#14 Posted : Friday, August 14, 2020 1:43:20 PM
Rank: New-farer


Joined: 3/28/2016
Posts: 22
Location: nairobi
Balaa wrote:
Just received this in my inbox.

Subject:Watch "Is MansaX a Safe Investment Option? | SIB Head of Compliance explains" on YouTube

https://youtu.be/oglVttAa-Lg

My take?: CMA regulation guarantees absolutely nothing; if an investment goes wrong you're on your own!!


Anyway, it is a risky investment and even they have said that there is a real (not remote or otherwise) risk that your capital can be eroded.

But I think these sort of products are good and should be encouraged because the investment scene is Kenya is just shite. I mean we do not even have index funds in Kenya. Gold EFT came in i think almost 12 years after introduction in SA and other markets in Africa. As long as the investor appreciates the risk, it should be good to go.
Mike Ock
#15 Posted : Friday, August 14, 2020 4:39:24 PM
Rank: Member


Joined: 1/22/2015
Posts: 673
kediveKed wrote:
Balaa wrote:
Just received this in my inbox.

Subject:Watch "Is MansaX a Safe Investment Option? | SIB Head of Compliance explains" on YouTube

https://youtu.be/oglVttAa-Lg

My take?: CMA regulation guarantees absolutely nothing; if an investment goes wrong you're on your own!!


Anyway, it is a risky investment and even they have said that there is a real (not remote or otherwise) risk that your capital can be eroded.

But I think these sort of products are good and should be encouraged because the investment scene is Kenya is just shite. I mean we do not even have index funds in Kenya. Gold EFT came in i think almost 12 years after introduction in SA and other markets in Africa. As long as the investor appreciates the risk, it should be good to go.


You don't need an index fund in a market where one company's shares make up 50% of the market. Safaricom IS the index!
kmucheke
#16 Posted : Friday, August 14, 2020 5:56:53 PM
Rank: Member


Joined: 3/16/2019
Posts: 227
Quote:
I asked him for his statement of account to backup his claim of "standing to earn upto 24%", a request he did not take too kindly. (I always ask all solicitors for this kind of information, including Cytonn's).



This is a very valid question to ask. A money manager who is trading other people's money and making claims of above average returns, should provide verified trading records or statements from the broker.
kmucheke
#17 Posted : Wednesday, November 18, 2020 5:04:02 PM
Rank: Member


Joined: 3/16/2019
Posts: 227
Capital Markets Authority calms investors over money manager

Quote:
The Capital Markets Authority (CMA) has sought to reassure Kenyans that Mansa X, the county's premier regulated online forex trading money fund, complies with its regulations.

This follows claims that Standard Investment Bank (SIB) -- which operates Mansa X -- as Kenya’s first Money Manager may be operating the business in breach of CMA's regulatory framework.
KulaRaha
#18 Posted : Thursday, November 19, 2020 10:49:52 AM
Rank: Elder


Joined: 7/26/2007
Posts: 6,485
Any returns so far?
Business opportunities are like buses,there's always another one coming
newfarer
#19 Posted : Friday, November 20, 2020 10:24:19 AM
Rank: Elder


Joined: 3/19/2010
Posts: 3,497
Location: Uganda
Tokyo wrote:
I have invested in MansaX. They are kind of quick in account opening unlike other investment funds.( all online). The account numbers too looks Kind of simple considering the massive minimum amount. Account number Like 000123, 000124,000125 lacks confidence in this era. Just under a month “investor” . Not much to share.


And this is the one you were recommending to the 8-9 millions shilling wazuan .. he'd rather go the armophous way to DC then
punda amecheka
moneydust
#20 Posted : Saturday, November 21, 2020 10:11:00 AM
Rank: Member


Joined: 1/31/2007
Posts: 303
KulaRaha wrote:
Any returns so far?


Am invested from June 2020 and the return per the statement they sent me is 28.4% annualized. This is remarkable such that I am tempted to put in more money, but I am not sure because this is Kenya where investors have lost money left, right, and center in spite of the regulators being in place. My question is, how competent and objective are the guys at CMA in regulating a fund such as Mansa X ???. In addition, I have noted of late they are heavily advertising the fund on social media platforms which leaves me wondering if the returns are this good why are people not rushing to invest their money with them.
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