State Fund Rosinfocominvest may change its strategy and become a grant fund

State Fund for investments in info communications Rosinfocominvest may become a grant fund. The Ministry of Communications said about the revision of the fund's strategy in connection with the fact that it was created five years ago, and over time the industry of information and communications technology has changed: the amount of investment money in the market has increased.

According to the Deputy Head of the Ministry of Communications Mark Shmulevich, the Ministry is considering various options for the future strategy of the fund, and the grant model is one of the options. If it turns out that the current model of work is still effective, it will not change anything, but if the fund will be transformed, Rosinfocominvest can be closed and its assets sold out.

Rosinfocominvest was established in 2006 (registered on the 19th of October, 2007) with the support of the Ministry of Communications, which was headed by Leonid Reiman at that time. Since February, 2012 the fund's assets have been managed by MC Leader.

According to Kommersant newspaper, MC Leader considered several projects and selected five for investment after taking control of Rosinfocominvest. There were breakthrough projects among them as the MC says.
According to the first half of 2012, the assets of the Fund are 1.26B RUR, 30% of which are embedded in government securities, 43% - in the bonds of Russian companies (VimpelCom, MTS, Tele2 Russia). Another 24% of fund’s assets are invested in the equities of IT-company Armada (9%).