Fintech platform valU, Azimut partner to launch AZ valU Fund

Fintech platform valU, Azimut partner to launch AZ valU Fund

Fintech platform valU and Azimut, the multinational asset manager, have partnered to launch AZ valU Fund, a money market fund. The fund compounds interest daily, giving clients access to daily redemptions without locking capital up in long-term, fixed instruments, according to the company. AZ valU Fund is aimed at 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, according to a statement announcing its launch. 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 per cent of their investment in the fund. In June last year, Alhokair Family entered into an agreement to acquire a 4.99 per cent stake in valU through a capital injection of $12.4m, signifying a valuation of $247.4m for the company. The transaction came on the heels of valU’s entry into the Saudi market through FAS Finance, a joint venture (JV) with FAS Labs in which FAS Labs owns 65 per cent while valU owns 35 per cent. ValU has expedited FAS Finance’s ability