VTB Capital Asset Management has signed an asset management agreement with St. Petersburg State Chemical-Pharmaceutical Academy (SPCPA) Endowment.
VTB Capital Investment Management is the second largest asset management company in Russia in terms of endowment funds managed. The company manages in excess of 4.7 billion rubles in endowment assets, equivalent to a 17% Russian market share. In total, VTB Capital IM manages assets in excess of 260 billion rubles.
SPCPA Endowment was established in 2014 to secure financing of the Academy’s educational programs. St. Petersburg State Chemical-Pharmaceutical Academy was founded in 1902 by Professor DI Mendeleyev.
Vladimir Potapov, Chief Executive Officer of VTB Capital Investment Management said: «Our asset management company continues to enhance its reputation within the endowments market. Our client list already includes 14 endowments. Market conditions for this sector are favorable in Russia now. The emergence of numerous endowments with serious capital is beneficial for the Russian economy. It is a source of funding and opportunity to develop knowledge in relevant areas. Moreover, endowments use their funds to support innovative projects at universities. For educational institutions this is an opportunity to provide support for young teachers, attract foreign specialists, pay premium scholarships and more. Our aim is to support this through preserving and increasing the fund’s capital using a reliable and conservative investment strategy».
Igor Narkevitch, SPCPA Rector and Chairman of the Special Fund Management endowment, said: «SPCPA is the only university in Russia that trains graduates in the field of pharmaceutical and biotechnological production. During the Academy’s 95 year history, we have trained a huge number of specialists, many of whom work in factories and laboratories both in Russia and abroad. In Pharma 2020, the State Strategy for the Development of the pharmaceutical industry of the Russian Federation, human resource development is given a particularly key role. In light of this, the role of SPCPA must increase significantly, as it bears almost all of the responsibility for developing a profile of industrial and scientific personnel. The main objectives of establishing the special fund „SPCPA Endowment“ are to improve the scientific and pedagogical, educational and organisational support of pharmaceutical education in the Russian Federation. This comes in the form of the implementation of innovative educational projects and programs, including vocational orientation in the work of the university; the allocation of funding for the most relevant and promising future technologies; the transfer and commercialisation of research and development of students, young scientists, researchers and faculty members; and the implementation of SPCPA-registered scholarship programs».
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