AXA to Establish $142 Million Fund for Academic Research

France’s AXA Group announced the creation of a €100 million ($142 million) global “AXA RESEARCH FUND” to be launched in early 2008. The Fund will be active over thenext five years and will be managed by a Scientific Board chaired by Ezra Suleiman professor of political science at Princeton University and an independent member of the AXA Supervisory Board.

“Top-rate academic research is crucial to the continued development of the global economy and to the technologies and talents that will drive this development in future generations,” said the bulletin. “Ensuring that adequate funding is available for academic research projects is not the exclusive domain or responsibility of governmental and academic institutions. AXA believes that the private sector can, and should, play an important role in promoting meaningful academic research consistent with its larger social responsibilities.”

AXA said the “Fund will support academic research institutions and individuals involved in post doctorate research programs and will support academic research projects in the following areas associated with AXA’s business of Financial Protection.”

The bulletin listed the following as areas of interest for AXA:
— Comprehension and prevention of core risks for the human being and his environment: health and pandemics, population aging and long term care, environment and climate.
— Finance theories and financial markets
— Sciences, technology and information systems: web 2.0 and virtual worlds
— Marketing, consumer expectations and behaviors
— Human sciences and sociology of organizations.

“The AXA RESEARCH FUND is another example of how the private sector can make meaningful and lasting contributions to society as a whole,” noted Henri de Castries, Chairman of the Management Board of AXA. “By supplementing funds available from more traditional sources, the AXA RESEARCH FUND will help ensure that funding is available to pursue the type of high quality, independent academic research needed to address some of society’s most pressing issues and to develop the talent and know-how that our societies will need to deal with these issues going forward. I am proud that AXA is in a position to sponsor this initiative,”

Source: AXA – www.axa.com