JioBlackRock's Major Leap: Five New Mutual Fund Schemes Approved

JioBlackRock Asset Management, a joint venture between Jio Financial Services and BlackRock, received approval from SEBI to launch five mutual fund schemes. Four are equity-oriented index funds and one is a debt-oriented index fund. The company recently closed its first New Fund Offer, raising Rs 17,800 crore.

JioBlackRock Asset Management, a burgeoning 50:50 joint venture between Jio Financial Services and BlackRock, has achieved a significant milestone by securing regulatory approval from SEBI to debut five mutual fund schemes.

The updated filings on Wednesday revealed the forthcoming launch of JioBlackRock Nifty 50 index, JioBlackRock Nifty 8-13 yr G-Sec Index Fund, and several other prestigious index funds targeting both equity and debt markets.

Earlier, the firm successfully concluded its inaugural New Fund Offer (NFO) on July 7, amassing an impressive Rs 17,800 crore from diverse investor interests across India.

(With inputs from agencies.)