IDBI Mutual Fund has announced change in fund managers of IDBI Nifty Index Fund, IDBI Nifty Junior Index Fund and IDBI Gold Exchange Traded Fund. The new fund manager for the schemes will be V Balasubramanian.
For IDBI Monthly Income Plan, the new fund manager will be Gautum Kaul (Debt) and V Balasubramanian (Equity).
Further, with effect from November 11, 2011, Stock Holding Corporation of India (SHCIL) has been entrusted with the custodial functions for the schemes launched by IDBI Mutual Fund.