The management of CPSE exchange-traded fund (ETF), the government's first divestment initiative through the innovative ETF-route, is changing hands. The government has given its nod for Reliance Mutual Fund (MF) to take over Goldman Sachs MF in India, the managers to the CPSE ETF. In October 2015, Reliance MF had announced to take over Goldman Sachs' India MF business for about Rs 240 crore. To complete the deal, the fund houses also needed a clearance from the government. About a month ago, Sebi had given its nod to the takeover.
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