Principal Trustee Company Private Limited (formerly IDBI-PRINCIPAL Trustee Company Limited), a company incorporated under the Companies Act, 1956 is the Trustee to the Fund with effect from October 2002. Prior to October 2002 Board of Trustees discharged the Trusteeship function of the Fund.

In June 2003, Principal Financial Services Inc. USA acquired 100% stake in IDBI-PRINCIPAL Trustee Company Limited, through its wholly owned subsidiary Principal Financial Group (Mauritius) Limited. Name of the Trustee Company was changed to Principal Trustee Company Private Limited, to reflect the change in ownership.

In May 2004, Punjab National Bank and Vijaya Bank became equity shareholders of the Trustee Company and post this, Principal Financial Group (Mauritius) Limited, Punjab National Bank and Vijaya Bank hold 65%, 30% and 5% respectively of the paid up equity capital of the Trustee Company.

Directors of the Trustee company as on April 15, 2008 are:

Mr. B. G. Deshmukh
Chairman (Independent Director)

Mr. H.M.Singh
Independent Director

Mr. V.S. Mathur
Independent Director

Mr. Pramod Lele
Independent Director

Mr. Ned Burmeister
Associate Director

Mr. Ranjan Dhawan 
Associate Director