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Mansa-X Fund by SIB. Anyone who has invested with them?
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Balaa
#11 Posted : Thursday, August 13, 2020 1:17:26 PM
Rank: Member

Joined: 7/6/2018
Posts: 175
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
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Queen
#12 Posted : Thursday, August 13, 2020 1:38:50 PM
Rank: Member

Joined: 11/21/2018
Posts: 564
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.
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Balaa
#13 Posted : Friday, August 14, 2020 12:37:49 PM
Rank: Member

Joined: 7/6/2018
Posts: 175
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
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  | | Edit by user: Friday, August 14, 2020 12:47 PM | Reason: Not specified
kediveKed
#14 Posted : Friday, August 14, 2020 1:43:20 PM
Rank: New-farer

Joined: 3/28/2016
Posts: 37
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.
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Mike Ock
#15 Posted : Friday, August 14, 2020 4:39:24 PM
Rank: Member

Joined: 1/22/2015
Posts: 682
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!
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kmucheke
#16 Posted : Friday, August 14, 2020 5:56:53 PM
Rank: Member

Joined: 3/16/2019
Posts: 313
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.
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kmucheke
#17 Posted : Wednesday, November 18, 2020 5:04:02 PM
Rank: Member

Joined: 3/16/2019
Posts: 313
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.
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KulaRaha
#18 Posted : Thursday, November 19, 2020 10:49:52 AM
Rank: Elder

Joined: 7/26/2007
Posts: 6,514
Any returns so far?
Business opportunities are like buses,there's always another one coming
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newfarer
#19 Posted : Friday, November 20, 2020 10:24:19 AM
Rank: Elder

Joined: 3/19/2010
Posts: 3,505
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
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moneydust
#20 Posted : Saturday, November 21, 2020 10:11:00 AM
Rank: Member

Joined: 1/31/2007
Posts: 304
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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