Standard Investment Bank (SIB) is now the top new hedge fund manager in Kenya according to an award by the UK-based magazine.
SIB was awarded by Global Banking & Finance by virtue of being the only company in the country that offers investors exposure to the world market through its MansaX product.
MansaX is a global multi-asset strategy fund that uses complex portfolio provision tactics to boost returns while also hedging capital exposure.
Standard Investment Bank is the first and so far the only bank that is regulated in online forex trading money manager, having received regulatory authorization in December 2018.
The Global Banking & Finance award, now being the 10th year, also recognized the Nairobi Securities Exchange (NSE) as the securities exchange brand of the year while Sterling Capital Ltd was ranked as the best investment bank in the country.
The awards feature innovations in the global financial sector, such as banking, inward investment, Islamic finance, corporate finance, and asset management.
MansaX posted a return of 24.45 percent in the first quarter of the year, while NSE posted a negative return of 25.6 percent due to the coronavirus pandemic.