The world's largest asset management company will now sell mutual funds in India, Jio BlackRock gets approval

Jio Financial Services Stock market regulator SEBI has approved Jio BlackRock Asset Management to start its mutual fund business in India. Jio BlackRock is a joint venture between Indian company Jio Financial Services Limited and US-based multinational asset management firm BlackRock.

The way has been cleared for the entry of a new and big player in the country's mutual fund market. In fact, market regulator SEBI has approved Jio BlackRock Asset Management to start operations as an investment manager for its mutual fund business in India.

According to the press release issued by this fund house, JioBlackRock Asset Management will bring a better investment proposition to the growing number of Indian retail mutual fund investors as well as institutional investors in India. Jio BlackRock is a joint venture between Indian company Jio Financial Services Limited and US asset management firm BlackRock.

After getting approval for the mutual fund business, the company said that this asset management company will try to take advantage of the capabilities of its two sponsors. Where JFSL has a deep understanding of digital reach and local market. At the same time, BlackRock has a good understanding of investment and lending risk management at the global level.

What is the company's planning

BlackRock is a US-based multinational investment company, as well as the world's largest asset manager, with an asset management business of more than $ 11.5 trillion. JioBlackRock Asset Management will offer a variety of financial products for all investors in the mutual fund business. These will include competitive and unique products, which will be prepared on the basis of BlackRock's significant risk management experience. This includes Aladdin, BlackRock's globally renowned proprietary tech platform that integrates the investment management process through a common data language. JioBlackRock Asset Management aims to launch a variety of investment products in the coming months. Jio Financial Services shares rise

After getting approval from SEBI, today Jio Financial Services shares have jumped 3 percent, and are trading at the level of Rs 290.

Isha ​​Ambani, Non-Executive Director, Jio Financial Services Limited, said, "Our partnership with BlackRock is a powerful combination of global investment expertise and Jio's digital-first innovation. We are committed to making investing simple, accessible and inclusive for every Indian. I am confident that JioBlackRock Asset Management will play a transformational role in shaping the future of financial empowerment in India."

At the same time, Rachel Lord, International Head of BlackRock Asset Management, said, "The asset management opportunity in India today is very exciting. JioBlackRock's digital-first consumer proposition, providing institutional quality products at low cost directly to investors, will enable more people in India to enjoy the many benefits of access to capital markets. We look forward to continuing to make better contributions in the interest of investors with our partner JFSL."