Jio BlackRock Sees Digital Trust as the Next Big Disruptor in Mutual Funds

Jio BlackRock, the asset management joint venture between Reliance’s Jio Financial Services and BlackRock Inc, is setting its sights on transforming India’s massive mutual fund industry. According to Managing Director and CEO Sid Swaminathan, the key driver will be digital trust — a factor he believes can redefine how Indians invest.

“We are still only scratching the surface,” Swaminathan said in an exclusive conversation with Moneycontrol, pointing out that equity investments make up just 6% of household savings in India. This is in stark contrast to mutual fund penetration levels of nearly 80% in the UK and 150% in the US (as a percentage of GDP).

Leveraging Tech and Scale for the $600 Billion Market

At the core of Jio BlackRock’s strategy is Aladdin, BlackRock’s powerful in-house investment technology platform, which is used to manage almost $12 trillion in assets worldwide. The platform enables the company to create innovative, risk-aware funds and operate efficiently at scale.

“In a scale market like India, you need to be able to manufacture at scale and then distribute at scale,” Swaminathan explained.

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Tapping Jio’s 460 Million-Strong User Base

For distribution, Jio BlackRock plans to tap into Jio’s 460 million telecom subscribers. The company will embed its app within Jio Finance and MyJio, while also collaborating with other digital platforms and registered investment advisers.

“The ability to just be present in those channels where there’s a lot of traffic is excellent for us,” Swaminathan said, highlighting India’s rapid digital finance adoption — which, he noted, is growing “much faster than anywhere else in the world.”

A Market Full of Potential

India’s mutual fund industry, currently valued at $600 billion, offers immense growth opportunities. With most household savings still parked outside equity investments, Jio BlackRock is confident that its combination of technology, digital-first distribution, and access to one of the world’s largest consumer bases will help it capture significant market share.

“Digital trust is the ultimate disruptor,” Swaminathan said, underscoring the firm’s belief that transparency, innovation, and accessibility will win over new investors in the coming years.

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