PARIS, March 24 /PRNewswire-FirstCall/ -- The AXA Research Fund closed out its first year of existence. During the year ended, the Fund granted more than Euro 13 million to various European research institutions.

The purpose of the Fund is to promote the understanding and prevention of major risks in the world by supporting cutting edge scientific research. The AXA Research Fund has been endowed with Euro 100 million over five years, making it a major initiative in the realm of scientific philanthropy in Europe.

'The current environment only reinforces our conviction that academic research is critical to meeting the challenges of a global society,' noted Henri de Castries, Chairman of the AXA Group Management Board. 'We are particularly proud of the work accomplished by the Fund over the course of this first year, and we confirm AXA's long-term commitment to contributing to emergence of the talents and technologies needed to ensure the development of our societies.