Jio Financial Services shares rose £293.45, £2.05 or 0.70% as of 10:422am on the NSE today, following regulatory approval for the mutual fund joint venture with BlackRock.
India’s Securities and Exchange Commission granted the “Jio Blackrock Mutual Fund” a certificate of registration on May 26, 2025, and approved Jio Blackrock Asset Management Private Limited as an asset management company.
Jio Financial Services and Global Asset Manager JioBlackRock Asset Management, a 50:50 joint venture between BlackRock, is now able to start operations as investment managers for the mutual fund business in India. The company plans to launch an investment product incorporating BlackRock’s data-driven investment capabilities in the coming months.
Sid Swaminathan has been appointed Managing Director and CEO of the new Asset Management Company. The joint venture aims to serve both retail and institutional investors in India’s growing mutual fund market.
JFSL non-executive director Isha Ambani said the partnership will combine global investment expertise with Jio’s digital-first innovation to make investments accessible to Indians. BlackRock’s International Head Rachel Lord emphasized digital-first customer proposals to provide institutional quality products at a low cost.
Regulatory approval follows a nearly two-year process that began with the announcement of the first joint venture in July 2023.
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Released on May 28, 2025
