VaIU, MENA’s leading lifestyle-enabling fintech platform, and Azimut, the leading multinational asset manager, announced recently that they have partnered to launch the AZ valU Fund, a money market fund providing people with a flexible and convenient investment solution featuring the market’s most competitive daily yields. The fund compounds interest daily, giving clients access to daily redemptions without locking capital up in long-term, fixed instruments.
Industry sources added that AZ valU Fund is suitable for consumers looking for stable, low-risk returns. The fund invests in a roster of secure, high-liquidity assets with short- and medium-term tenors, ultimately generating competitive average daily returns for customers. Clients can invest with no minimum or maximum restrictions and no transaction fees or commissions, with Azimut and valU clients being granted immediate access to valU limits worth up to 90% of their investment in the fund.
Walid Hassouna, CEO of valU commented on the partnership, stating that “It gives us great pleasure to be offering the market this unique opportunity through Azimut, giving clients access to an investment product that grows their wealth and gives them the freedom to redeem returns any day should they need to. Through this, we’re confirming to our clients that we are not only catering to their ever-growing financial needs but also expanding our product universe in step with them. The birth of the AZ valU Fund is yet another milestone in valU’s transformational growth story as we work to build an end-to-end lifestyle-enabling financial ecosystem.”
Ahmed Abou Elsaad, Egypt’s CEO of Azimut Egypt & Head of Asset Management MENA & Turkey, commented, “We are delighted to launch the AZ valU Fund today as we continue to leverage our industry expertise to bring to market value-accretive products that create financial freedom and empowerment. Partnering with fintech powerhouse valU provides a new avenue for us to market our products and gives clients access to the platform’s convenient, innovative financial solutions tailored to their spending needs. The fund falls in line with Azimut’s strategy to offer investors a diversified product range catering to their needs and objectives by partnering with strategic players that make accessing those products simple and seamless for Egyptians.”
Industry sources further added that during the first phase of rollout, clients can subscribe to the AZ valU Fund at several valU branches across the country as well as Azimut’s Smart Village branch, where clients will only be required to fill out a form and provide their national ID. During the second phase, the AZ valU Fund will be available digitally through the valU and Azimut apps. Customers can place funds in their Azimut account by using InstaPay, depositing cash at valU branches, or by depositing or transferring through any bank.
Rising interest rates in response to higher inflation and geopolitical tensions impacting supply chains worldwide have placed pressure on consumers. As such, they’re looking for solutions to help them grow their disposable income, thereby creating demand for financing and investment products. Consequently, it is more important than ever to bring to market alternative, low-risk financing instruments that stimulate higher returns and generate liquidity for individuals.
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