The Russian International Olympic University has established an endowment fund. University endowments have a 500-year history in international practice. They are created on the basis of gifts of money by donors who wish to support the development of an academic institution. The endowed assets are invested in various income-generating instruments. Investment earnings are then spent on the university's ongoing operations, while the principle is left intact.
RIOU Rector Professor Lev Belousov said: "Endowments are the major funding sources for implementing educational, research, publishing and scholarship programmes at the world's leading universities. We have just started forming our own endowment, and we would certainly appreciate support from philanthropists, our friends and graduates. I do hope that their donations will allow the university to grow and expand, so that one day it becomes an internationally recognised leader in sport business education, the main centre for training top class managers for the Russian sport and the Olympic Movement".
RIOU has signed a discretionary service agreement with VTB Capital Asset Management for the management of the endowment funds.