Dear MansaX investor,

We would like to take this opportunity to thank you very much for investing in our fund and for your continued support.

This statement seeks to address misinformation about MansaX as well as gross misrepresentations about how markets work in general and how a hedge fund is able to generate returns. 

As our esteemed investor, please see below some facts about MansaX that we hope will serve to give you comfort about your investment:

1. MansaX is regulated as the first Online Forex Money Manager by the Capital Markets Authority (CMA). This is based on the Online Forex Trading Regulations of 2017. It is worthwhile to note that MansaX is the only entity that holds this license, which was granted in December 2018. Any other entity that claims to have such a license is definitely a fraud. It should also be noted by our investors that MansaX is a product of Standard Investment Bank Ltd, a fully-fledged investment bank licensed by the CMA and founded in 1995. The bank celebrated its 25 year anniversary this year. This means that it is an established firm with a serious reputation to protect. 

2. The performance of global markets has been misrepresented, with claims that foreign markets have underperformed. This is untrue. Please see below the performance of certain assets that the fund invests in:

3. MansaX uses a Long and Short trading model. When asset classes lose value, MansaX is able to make a return through a method of trading called ‘going short’. This is a very unique value proposition enjoyed by our investors. 

4. We have always been very clear about the asset classes that we invest in. These are in 6 asset classes: currencies, commodities, precious metals, global and local stock indices, global and local single stocks, cash and fixed income. 

5. The fund holds a significant portion in non-risky assets which means that it employs a very conservative trading model. At any point in time, the funds that are invested in risky assets do not typically exceed 20% of the value of the fund. 

6. The higher than average return is due to several reasons the most significant of which are:

  • A much wider array of tradable asset classes (more than 200)
  • Using leverage (trading with more than the available capital)
  • Trading using the long and short trading model
  • Access to markets around the globe through a network of partners. 

7. It is a legal and regulatory requirement to warn investors that their investment can be subject to market losses from time to time. Doing so is actually a testament to our commitment to transparency while dealing with our investors and proof of our compliance with regulatory requirements. 

As per our custom, we have assigned Financial Advisors and Relationship Managers to each one of you. Please feel free to reach out to them for any clarification that you may require on your investment. We would be very happy to offer you guidance on this. 

Once again, many thanks for entrusting your funds with us. 

Sincerely,
Nahashon Mungai – Executive Director, Global Markets

Join the discussion 37 Comments

  • Anonymous says:

    MansaX
    Thanks for the clarification

  • Priscilla Kibui says:

    Thank you for your assurance. Some of us have invested our retirement benefits and we shall continue investing with you but keep on assuring us that our funds are safe.
    My RM is very supportive.

    • Mansa says:

      You are most welcome, Priscilla. The objective for Mansa-X is not only to provide Alpha Returns, but to preserve investors capital as well.
      We are glad your RM is quite helpful.

  • Thanks Nahashon,
    What was the matter all about mansa x?

  • John Makuta says:

    Information at hand is a valuable tool.

  • Ketan Shukla says:

    Hi Nahashon well done and keep up the good work !

    The last couple of days have seen the Nasdaq rocket 1000 points and XAU up $70 ! I really wanted to top up and take advantage of the us election but my shares on the NSE aren’t moving …

    Keep up the great work still think 35% should be very good rate of return bearing in mind the shilling has depreciated significantly and there is also 5% annual management fee for MANSA – x , If you were to tell me our $ return on MANSA -x would be 25% i would jump at the opportunity!

    • Mansa says:

      Hi Ketan, you are one very optimistic guy

      At the moment we can deliver up to 6% on the dollar which is almost 2 points better than the market rate.

      Thanks for your constant support!

  • Nimo says:

    Thank you for this detailed statement and clarification which a layman like me can understand. It’s important to maintain this type of engagement with your customers – many Kenyans have had negative and often financially devastating experiences with various investment offerings in our local market hence we are accustomed to being sceptical – you can never communicate enough. What may be important to communicate now is the short to long term of Covid-19 – I don’t believe returns in the range of 24% are expected again so what is the realistic expectation and for how long?

    • Mansa says:

      Hi Nimo, I should be apologising for typing this response this late. But, hey! Am here!

      Repeating 24% seemed impossible, according to your feedback in November. Well, in 2020, we managed a gross return of 23.75% which I think is equally great!

      Thanks for your feedback, we shall endeavour to keep engaging our investors and appraising them of the goings-on in the market.

  • Isaac Wachira Thande says:

    Hello Nahashon,
    Please share the circulating misinformation.

    I am yet to see anything adverse on Mansa X so far. However, I like to read all information or misinformation on a product I have invested in so as to consistently evaluate the merits of the information or misinformation and make my own independent judgement – so that I can retain objectivity when dealing with an investment.

    Regards
    Isaac

    • Mansa says:

      Hello Isaac,

      I agree with you, it is very important for investors to independently verify information and make their own decisions.

      We endeavour to remain as transparent as possible in this endeavour.

  • fredrick khaduli says:

    1) Does it mean therefore that max loss probability on my investment is 20% ?
    2) Do you as a bank, make loss provisions from your own annual profit as a way to cushion clients. It would be a better way to give financial comfort to customers.
    3) Do you share your annual accounts

  • fredrick khaduli says:

    1. Is my max loss probability therefore 20%
    2. Do you make annual loss provisions to cushion customers from loss probability
    3. Can you share your annual audited accts

    • Mali says:

      Hi Fredrick,

      1) Does it mean therefore that the max loss probability on my investment is 20%?
      – Not necessarily. Even the 20% is diversified extensively over 200 assets to offer capital preservation. As we saw in 2020, even when assets such as oil, and airline stocks were losing greatly, others like tech stocks and gold gained extensively. Ours is to take advantage of this.

      2) Do you as a bank, make loss provisions from your own annual profit as a way to cushion clients. It would be a better way to give financial comfort to customers.
      – Mansa-X is not a guaranteed fund. We however trade conservatively and apply real and genuine diversification to ensure the investor’s capital is protected and that you also earn above average market returns.

      3) Do you share your annual accounts
      – Please share with us your email address so we can furnish you with this.

  • Allan Kyalo Wambua says:

    This is well noted and appreciated

  • Joseph Owaga Okello says:

    Regular updates such as this one are very necessary but more so on the investment performance

  • Grace Ndungu says:

    Very informative. I have trust and confidence in your wide knowledge in the global markets and I am sure my investment is safe with Mansax

  • Timothy Nyika Wambugu says:

    Clear and to the point. Continue the good job Mr.Nahashon and team.

  • Njoroge says:

    Has there been any major concerns or risks that Mansa-X is taking that might expose the clients? Or
    Is there a projection of a market crash or misinformation to some clients, therefore necessitating this clarification ?

  • Hezekiah says:

    Let’s move on strong…

  • wamugi ndegwa says:

    although I don’t understand fully the methods used, I appreciate your information and concern.
    everything has a risk… including breathing…

  • Elizabeth says:

    My concern with Mansa X is that the rates shared and publicized each quarter as the quarterly annualized rates do not reflect as the interest earned. This is as per the last quarterly statement received i.e. Q3 statement. Inquiry on the difference does not come with satisfactory response.

  • Rose Gitau says:

    It is a good investment. However I have been informed that after starting the investment with 250k thereafter you can only top up with 100k. For small investors please reduce the top to at least 50k. This would really be appreciated.

    • Mansa says:

      Hi Rose,

      We are forced to set up the minimums a bit high to enable us buy into the assets we are investing in. This then enables us to offer good returns.

      Should there be an opportunity to further reduce this amount, we shall let you know.

      Thanks for being a valued client.

  • PeterB says:

    Can answers be given to some of the questions raised in the comments here please to show that these views have been read by the management. Information is a vital tool in the present world.

    • Mansa says:

      Hello Peter,

      We have now taken up on this and will be more hands-on with the response.

      Thanks for calling us out here, and sorry it took this long.

  • Laban Kariuki says:

    Thanks for the clear response to the comments.
    whats the contribution of the depreciation/appreciation of KES against the hard currencies to the expected returns, if any ?

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