Bips Investment Managers is the exchange-traded fund division of Rand Merchant Bank (RMB) a division of FirstRand Bank Limited, one of South Africa’s largest JSE-listed financial services groups.Bips Investment Managers offers a suite of exchange-traded funds (ETFs) branded as Beta Investment Performance Securities (Bips or BipsETFs). Bips offer investors a range of ETFs that track various indices in both the equities and fixed income markets.