Jio BlackRock Mutual Fund has received the go-ahead from SEBI to launch four new passive funds, marking another step forward in its aggressive entry into India’s mutual fund market.
The new fund offerings include three equity-oriented index funds and one debt-oriented index fund. According to the company, the approved schemes are:
JioBlackRock Nifty Midcap 150 Index Fund
JioBlackRock Nifty Next 50 Index Fund
JioBlackRock Nifty Smallcap 250 Index Fund
JioBlackRock Nifty 8-13 yr G-Sec Index Fund
Three of these funds focus on equities, offering exposure to specific segments of the Indian stock market, while the fourth provides access to government securities through a debt index fund.
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Continuing the Momentum
This SEBI approval comes shortly after Jio BlackRock made headlines by raising ₹17,800 crore across three debt-oriented schemes – the JioBlackRock Overnight Fund, Liquid Fund, and Money Market Fund – launched in its debut phase.
These initial schemes marked the company’s entry into the mutual fund space following its license approval in May.
Backed by Giants
Jio BlackRock Mutual Fund is a joint venture between Jio Financial Services, a part of Reliance Industries, and global investment giant BlackRock. This powerful partnership is seen as a strong challenger in India’s mutual fund industry, with a focus on leveraging technology and global expertise.
The recent SEBI nod further strengthens Jio BlackRock’s product basket, particularly in the passive investment space, which is gaining traction among retail and institutional investors in India.
