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VTB Capital Asset Management selected to be the asset management company for the Skolkovo Institute of Science and Technology Endowment Fund


Tags: portfolio management

Jun 27, 2012
Skolkovo Institute of Science and Technology (SkolTech) announced the formation of an endowment fund. In June 2012, VTB Capital Asset Management has become one of the two asset management companies that won the competition to manage the fund.

The Skolkovo Institute of Science and Technology Endowment Fund will be used to design and conduct educational and research programs, organize round tables and conferences, as well as provide scholarships and grants for students. In the medium term, the Skolkovo Institute of Science and Technology endowment fund will accumulate roughly 10 billion rubles.

The mission of SkolTech is to educate students, develop knowledge and advancement in technological solutions that address key scientific, technological and innovation challenges in Russia and around the world.

VTB Capital Asset Management offers discretionary asset management services for institutional investors and individuals, mutual fund management, and is one of the top leaders in venture capital. VTB Capital Asset Management has received the highest reliability ratings: A + + (the highest degree of reliability) from Expert RA and AAA (maximum reliability) from the National Rating Agency. The company also received the highest investment performance rating for managing part of the accumulative portion of the Russian State Pension Fund, according to the New Economic School. The AUM of VTB Capital Investment Management is 85 billion rubles (31 March 2012).

Alexander Lupachev, Investment Director of the Skolkovo Fund and Chairman of the Board of the SkolTech Endowment Fund, commented on the outcome. "A competition to become the discretionary asset manager for the largest endowment fund is a landmark event for the Russian asset management market. We received over 15 applications from asset management companies. I would like to note that all of the proposals were of a highly professional level. The proposal from VTB Capital Asset Management was deemed one of the best in relation to price and quality. As such, we congratulate our colleagues, and look forward to profitable and successful cooperation."

Vladimir Potapov, Head of Portfolio Management Business at VTB Capital Asset Management, said: "We are pleased to be one of the asset management companies collaborating with SkolTech. Our goal is to take a leading position in endowment fund management, which is an actively rising segment in Russia. We offer our customers high-quality investment expertise in selecting financial instruments and diversification among asset classes, both in Russia and abroad."

Endowment funds are the foundation for long-term funding of social, charitable, and educational projects worldwide. Endowment fund legislation exists in Russia since 2007.

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