VTB launched a program with built-in charity from investment in mutual funds to help the elderly
VTB Capital Investments has launched a program with built-in charity donation. The company will now direct 20% of the compensation for actively managing assets of the VTB Gold Fund to the dependants of the ‘Old Age For Joy’ foundation, a charity aimed at helping the elderly. This means that for every 1,000 rubles invested by the client, VTB Capital Investments will transfer 2 rubles a year from its own funds . The VTB-Gold Fund is designed to diversify the risks of the stock market and generate potential income linked to the growth of gold prices. By investing in the Fund, clients will now be able to participate in helping those dependent on the “Old Age For Joy” foundation.
The charity foundation ’Old Age for Joy’ was registered in 2011. It grew out of the volunteer movement of the same name that emerged in 2007, whose main task was to improve the quality of life of elderly people in nursing homes. The strategic goal of the foundation is to build a system of assistance in Russia that will be available to every elderly person who finds themselves in a difficult life situation. At the moment, ’Old Age for Joy’ oversees more than 350 nursing homes and psycho-neurological boarding institutions across Russia. VTB Bank has been providing charitable assistance to the foundation since 2017.
VTB Capital Investments today provides one of the broadest lines of mutual funds on the market. It consists of 27 funds of market financial instruments that allow clients to invest in a variety of asset classes in Russia and abroad, while adhering to the principles of portfolio diversification. VTB constantly updates its product offerings, bringing them in line with the most current trends across global markets.
“For our investors, it is important that investments do not just work, but work for the benefit of the whole society. Just two weeks ago, we launched the first responsible investment funds in Russia. In such mutual funds, the securities of those companies that are aimed at solving social and environmental problems of society are selected. World practice shows that in the long term, they show more stable business growth results. Offering opportunities for supporting charities automatically when investing is another important step that is aimed at participating in addressing societal issues. At the same time, I would like to emphasize that funds for this foudation are directed to charity exclusively from the remuneration of the management company, and not from the client’s profit. In the future, we want to expand the opportunities for our clients to direct funds to charity during investments.” said Vladimir Potapov, Chief Executive officer of VTB Capital Investments, head of the VTB brokerage Department, and senior Vice President.
“We have been successfully cooperating with VTB Bank for several years, and I am glad that this project takes our partnership to a new level. Now ‘Old Age for Joy’ works with more than 350 nursing homes and psycho-neurological boarding institutions in 50 regions of Russia. We regularly receive a huge number of requests, and, as a rule, they relate to the most necessary services: care and hygiene products, additional hours of staff work. Also, many elderly people require eye surgeries, dental prosthetics, and many nursing homes need repairs. Funds from the VTB Capital Investment project will help elderly and disabled people, making their lives a little happier.” said Elizaveta Oleskina, Director of the charity Fund “Old Age for Joy”.