The Skoltech Fund, established by Skolkovo, will insure the funds by investing a part of them in loan securities and Eurobonds of large domestic companies. It is a matter of approximately $1B, which will be invested by VTB Asset Management and Alfa Capital in Russian blue chips.
According to Alexander Lupachev, the head of Skolkovo investment services, the investment declaration is currently being prepared, according to which the managing companies will have the right to place the money in government bonds, invest in bonds of major Russian companies which will be able to keep the money in the top thirty banks according to the Central Bank.
According to the representatives of the fund, the capital gains of Skoltech may total 5% per year. Approximately 0.2-0.3% of the capital increase with all the overheads will be received by the managing companies as a reward - VTB Asset Management and Alfa Capital. The amount is small, but it is compensated by the status of the Managing Company of Skoltech - Lupachev says.
Recall that Dmitry Medvedev asked to fill the fund at the expense of state-owned companies in March: it should be the largest endowment of Russia. State-owned companies are to pay 3% of their net profit under RAS or 1% of companies’ costs on their innovation development programs. They will transfer about 30B RUR to the fund in three years. As previously noted by the president of Skolkovo Viktor Vekselberg, we need to raise about $1B otherwise it will be difficult to finance the university.