Oak Special Fund vs Mansa X: Which One (1) Is Right for You?

Overview of the Two High-Yield Funds

Oak Special Fund and Mansa-X are two of the most talked-about multi-asset investment funds in Kenya. Both are regulated by the Capital Markets Authority (CMA) and promise strong returns of 15%+ through professional management, diversified portfolios, and leveraged strategies. But which one suits your investment goals?

1. Mansa‑X Special Fund (by SIB)

• Who runs it?
  Standard Investment Bank (SIB), regulated by the CMA, and they fund was launched in Jan 2019
  
• What it does:
  A “multi-asset, long-short” fund investing in stocks, FX, commodities, futures, with leverage—so it can go “long” (bet prices rise) or “short” (bet they fall)
  
• Minimum Investment: KES 250,000; Top‑up KES 100,000
• Fees:
  
  • Management Fee: 5% p.a., charged daily (e.g., if you invest KES 100,000, you pay ~Ksh13.70/day).
    
  • Performance Fee: 10% on returns above a “hurdle”—25% p.a. for KES fund, 15% for USD
    

Returns:
Net ~17.7% p.a. since 2019; Q4 2024 alone was ~19.5% after fees

2. OAK Special Fund (by Faida)

• Who runs it?
  Faida Investment Bank, CMA-regulated, launched Feb 2024
  
• What it does:
  Multi-asset strategy investing in stocks, bonds, forex, commodities, ETFs, derivatives—with leverage.
  
• Minimum Investment: KES 500,000; Top‑up KES 50,000.
  
• Fees:
  
  • Management Fee: 6% p.a., charged daily.
    
  • Performance Fee: 10% of returns above 20% p.a. target.
    

Returns:
Delivered 29.4% in 2024 and +4.66% in Q1 2025 (~18.6% annualized) .

📊 Side-by-Side Comparison Table : Oak Special Fund vs Mansa X

Feature	Mansa-X	OAK Special Fund
Management Fee	5% p.a.	6% p.a.
Performance Fee	10% above 25% (KES)	10% above 20%
Avg. Return (Net)	~17.7% p.a.	29.4% (2024), ~18.6% Q1
Minimum Investment	KES 250,000	KES 500,000
Top-Up Amount	KES 100,000	KES 50,000
Lock-In Period	6 months	6 months
Leverage	Yes	Yes
Strategy Type	Long-short global	Tactical, diversified

Oak Special Fund vs Mansa‑X Special Fund: Fees, Tax, and Superior Strategy

⚙️ Understanding the Fee Structure Before Net Return Examples

Investors must grasp the fee mechanics before comparing performance:

• Management Fees
  Mansa‑X charges 5% per annum, deducted daily. OAK charges 6% per annum, also daily. These fees compensate experienced teams who actively manage multi‑asset portfolios.
• Performance Fees (“carried interest”)
  Both managers take 10% of returns above a set hurdle:
  • Mansa‑X: Above 25% gross return (KES fund) or 15% (USD fund).
  • OAK: Above a 20% per annum target.
    These motivate managers to exceed benchmarks and align interests tightly with investors. If gross performance doesn’t beat the hurdle, no performance fee is charged.
• Fees help pay for complex trading systems, risk controls, and continuous research—making these funds more capable and dynamic compared to passive vehicles.

💰 Real Fee Impact Example

Let’s say you invest KES 1,000,000 in each fund for one year.

Mansa‑X Example

• Gross return (before fees): 20% → KES 1,200,000
  
• Mgmt fee: 5% → -KES 50,000 = KES 1,150,000
  
• Performance fee: 10% on (20–25% hurdle = 0) → nil (you didn’t beat 25%)
  
• Net you get: KES 1,150,000 → +15% return
  

If the fund hit 30% gross:

• You’d exceed hurdle by 5% → KES 50,000.
  
• 10% performance fee → -KES 5,000.
  
• Net return = 30% – 5% (mgmt) – 0.5% (perf) = +24.5%
  

OAK Fund Example

• Gross: 25% → KES 1,250,000
  
• Mgmt fee: 6% → -KES 60,000 = 1,190,000
  
• Performance fee: 10% on (25–20% target = 5%) = -KES 5,000
  
• Net you get: KES 1,185,000 → +18.5% return
  

Key Takeaway: Gross returns must exceed the fee threshold to enjoy full benefits.

📤 Tax Treatment and Withholding Tax on Returns

• Withholding Tax on Distributions
  Returns distributed—such as interest, dividends, or gains—are typically subject to 15% withholding tax at source in Kenya. This is credited against your annual tax liability, not an extra tax. That tax is deducted before you receive payouts.
• Capital Gains vs Business Income
  Under Kenyan Income Tax law, gains may be treated as ordinary income—especially with active trading funds. These are subject to regular income taxation, not a separate capital gains window

🔍 Enriched Fee & Tax Examples (Without Net Return Table)

Imagine two scenarios:

1. Mansa‑X with 20% gross return
   • Management fee: 5% → leaves 15%
   • No performance fee (didn’t exceed 25% hurdle)
   • Then 15% withholding tax on distributions → net payout ~12.75%
2. OAK with 25% gross return
   • Mgmt fee: 6% → leaves 19%
   • Performance fee: 10% on excess ≈1% (5% over the 20% target)
   • After performance fee: 18%
   • Tax withheld (15% of distributions) → net ~15.3%

Note: exact after-tax depends on fund payout structure and whether gains are retained or distributed.

📊 Side-by-Side Fee & Tax Comparison

Feature	Mansa‑X Special Fund	OAK Special Fund
Management Fee	5% p.a., daily	6% p.a., daily
Performance Fee	10% on returns above 25% (KES)	10% on returns above 20%
Tax Withholding	15% on distributed gains/income	Same — deducted at source
Gross vs Net Example	Net = Gross – fees – tax	Net = Gross – fees – tax

💡 Why These Funds Outperform Forex Trading

1. Diversification Beyond Currency
   Unlike forex trading, both of these special funds invest across equities, bonds, ETFs, commodities, and FX—reducing risk vs single-asset trading.
2. Professional Risk Management
   These special funds use hedging, tactical long/short positions and portfolio rebalancing. Forex traders often lack such tools or expertise.
3. Regulated & Transparent
   Both are also licensed by the CMA, use custodians, follow audited valuations, and must comply with strict governance standards. Forex brokers may operate with limited oversight.
4. Passive Investment without Stress
   You’re free from chart-watching and emotional trading. Fund managers handle trades, so your money can compound quietly.
5. Downside Control via Leverage Management
   Long/short strategies allow managers to limit drawdowns—unlike pure forex trading, where loss potential is higher and typically unhedged.

📩 How to Invest In Oak Special Fund vs Mansa X

Mansa-X (SIB) Registration

1. Email: clientservices@sib.co.ke
2. Phone: +254 777 333 000
3. Submit KYC docs (ID, KRA PIN, proof of residence)
4. Pay via M‑Pesa PayBill 7186159 or I&M Bank
5. Investment activated post-verification

OAK Special Fund (Faida) Registration

1. Contact: oak.fund@fib.co.ke or +254 759 777 666
2. Submit application form + ID + KRA PIN
3. Top up via Faida’s bank account
4. Confirmation within 48–72 hours