SIB’S MansaX records profit despite pandemic

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MansaX, a product by the Standard Investment Bank has managed to record a profit of 1.21 % from last year despite the Covid 19 pandemic.

According to the Q’3 2020 annual report performance for its flagship product Mansa× reported an annualized return of 23.3% for the 9months of the year 2020.

This exceeded its performance in a similar period by last year by a whopping 1.21 % in an economic environment characterized by uncertainty in the local and global markets, attributed to the perverse effects of the pandemic. In the 9months of 2019, mansa reported an annual return of 22.09%.

Nahashon Mungai, SIB’S Executive Director for global market said, “In the final year, quarter 3 of the year was a period when we decided to build on the impressive work the team had done in the first half of the year. Our ability to deliver a gross off 23.3% p.a is further proof that our trading and risk mitigation strategy is designed with the client in mind.” MansaX currently has an AUM of over Kshs 2.2 billion.

He also attributed the success of MansaX to the prioritizing of protection of the investor’s capital and client satisfaction.

“In the final quarter of the year, our priority remains not only giving our clients the best returns, but also maintaining the conservative trading model which ensures we protect investor’s capital. To that end, we will continue to trade cautiously, using our long/short model, which is ideal in the prevailing market volatility” he added

Mansa× is a global markets product by the Standard Investment Bank. It is Global Multi Asset Strategy Fund that invest in the global online foreign exchange markets whose primary objective is for the investor to get capital growth.

The Standard investment bank is a leading financial service firm in Kenya founded in the year 1995 with over Kshs. 850million worth of shareholders’ funds. The firm offers the market a single point of entry for Asset Management, security trading, market research, investment management and cooperate finance.

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