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Specialized Endowment Fund to Support Veterans Fencing Created

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Mr. Alisher Usmanov, FIE President, announced that a “Specialized Endowment Fund to Support Veterans Fencing” has been created. The Fund is capitalized with USD 10 000 000, the amount allocated by the International Charity Fund For the Future of Fencing and donated by Mr. A. Usmanov, who has become the Fund’s Trustee.  

To prepare recommendations and proposals as to how revenues from its special-purpose capital will be used, the Fund formed the Council with Max Geuter, Mark Rakita and Julius Kralik as its members.
 
Beginning in February 2014, the Fund’s revenue will be used to finance various projects to render veteran fencers material support and develop veteran fencing on the whole. Before that time, the FIE Veterans Council and the Fund’s Council will have to define the appropriate needs and outline a way forward.

The creation of the Fund reflects the importance of veteran fencing for the world-wide development of our sport, which is for all age groups. The material support of veteran fencers and appropriate sport events will enable us to further develop fencing values and traditions.