JioBlackRock Secures SEBI Approval Launch Mutual Fund Business

Jio BlackRock Asset Management, a 50:50 joint venture between Reliance's Jio Financial Services Limited and U.S. asset manager BlackRock, has received regulatory approval from the Securities and Exchange Board of India (SEBI) to start mutual fund operations in India. The firm plans to launch a range of digitally accessible, innovative, and competitively priced mutual fund products targeting both retail and institutional investors. Leveraging Jio’s extensive digital infrastructure and BlackRock’s global investment expertise, including its Aladdin risk management platform, the joint venture aims to transform the Indian asset management landscape. Sid Swaminathan, who brings over 20 years of asset management experience and previously managed $1.25 trillion in assets at BlackRock, has been appointed as Managing Director and CEO. Both Isha Ambani, Non-Executive Director of Jio Financial Services, and Rachel Lord, Head of International at BlackRock, emphasized the partnership’s commitment to making investing simple, accessible, and inclusive, helping India shift from a nation of savers to investors. The company intends to launch its first products in the coming months, tapping into India's growing mutual fund market valued at over $800 billion.