Azimut to launch money market fund in Egypt

Asset manager Azimut has teamed up with Egypt-based fintech valU to launch a retail-focused money market fund with daily redemptions.

The AZ valU fund will invest in high-liquidity assets with short and medium-term tenors, according to a statement.

It will also have no minimum or maximum investment restrictions and no transaction fees or commissions.

Subscriptions will initially be made via valU branches throughout Egypt and Azimut’s Smart Village branch.

In the fund’s second phase, it will be made available digitally through valU and Azimut apps.

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