JioBlackRock's Mutual Fund Venture Clears Regulatory Hurdle

JioBlackRock Asset Management, a collaborative venture between Jio Financial Services and BlackRock, has obtained approval from India's market regulator, Sebi, to roll out four new mutual fund schemes.

The newly approved funds include three equity-oriented index funds and one debt-oriented option: the Nifty 8-13 yr G-Sec Index Fund, Nifty Smallcap 250 Index Fund, Nifty Next 50 Index Fund, and Nifty Midcap 150 Index Fund.

Previously, the asset management firm closed its inaugural New Fund Offer (NFO), attracting significant interest that culminated in Rs 17,800 crore in investments, sourced from a mix of cash and debt mutual fund schemes. The NFO drew participation from over 90 institutional investors and more than 67,000 retail investors.

(With inputs from agencies.)