Ludwig Maximilians University Munich (LMU) manages an endowment fund which is based in Munich, Germany. The earnings from endowment investments support scholarships, chairs, professorships, fellowships, basic research, as well as academic and public service progra The endowment funds are managed by the university executive board which consists of six members. The Executive Board is elected by the university council, the main body for decisions related to university policy and assigned to support the executive board.