Jio BlackRock's New Frontier in Mutual Funds

Jio BlackRock Asset Management, a joint venture launched in May between Jio Financial Services and BlackRock, has gained 10 lakh investors, with 18% being first-time mutual fund investors. The company is expanding its reach using technology and education, and plans to introduce new fund offerings, including Specialised Investment Funds and ETFs.

Jio BlackRock Asset Management, a collaborative initiative between Jio Financial Services and BlackRock, has quickly established a substantial investor base since its May launch, attracting 10 lakh investors. Significantly, 18 percent of these investors are first-time mutual fund buyers, as noted by MD and CEO Sid Swaminathan.

The firm has notably expanded its reach beyond major urban centers, with 40 percent of its retail investors hailing from B-30 cities, outpacing the industry norm of 28 percent. This growth is attributed to a strong focus on technology-driven solutions and continuous investor education, Swaminathan shared.

Looking forward, Jio BlackRock AMC aims to roll out Specialised Investment Funds and exchange-traded funds, leveraging its newly received approval from SEBI. The company is also preparing to introduce the JioBlackRock Sector Rotation Fund, targeting strategic sector investments based on market cycles and conditions.

(With inputs from agencies.)