Jio BlackRock Asset Management Private Limited (JioBlackRock Asset Management), a 50:50 joint venture between Jio Financial Services Limited (JFSL) [BSE, NSE: JIOFIN] and BlackRock [NYSE: BLK], has received regulatory approval from the Securities and Exchange Board of India (SEBI) to commence operations as an investment manager for their mutual fund business in India.
JioBlackRock Asset Management will bring an innovative investment proposition to the growing number of Indian retail mutual fund investors, as well as to institutional investors in India. The asset management company will seek to leverage the unique strengths of its two sponsors: JFSL’s digital reach and its deep understanding of the local market, alongside BlackRock’s global investment expertise and leading risk management technology.
Key differentiators for all investors of the JioBlackRock Asset Management offering will include competitive and transparent pricing and innovative products, supported by the application of BlackRock’s pre-eminent risk management expertise. This includes Aladdin, BlackRock’s globally renowned proprietary technology platform that unifies the investment management process through a common data language. For retail investors, the offering will also be distinctive for its digital-first customer proposition. JioBlackRock Asset Management aims to launch a range of investment products, including those that apply BlackRock’s industry-leading capabilities in data-driven investing, over the coming months.
Isha Ambani, Non-Executive Director, JFSL, said: “India’s rapid growth is driven by a new generation with bold aspirations. Our partnership with BlackRock is a powerful combination of global investment expertise and Jio’s digital-first innovation. Together, we are committed to making investing simple, accessible, and inclusive for every Indian. I am confident that JioBlackRock Asset Management will play a transformative role in shaping the future of financial empowerment in India.”
Rachel Lord, Head of International at BlackRock, said: “The opportunity in asset management in India today is tremendously exciting. JioBlackRock’s digital-first customer proposition, delivering institutional quality products at a lower cost directly to investors, will enable more people in India to enjoy the many benefits of access to the capital markets. Together with our partner JFSL, we look forward to contributing to the country’s continued evolution from a nation of savers to a nation of investors.”
