SEBI grants approval to Jio BlackRock Mutual Fund, Sid Swaminathan appointed as first CEO

The Securities and Exchange Board of India (SEBI) has officially granted a certificate of registration to Jio BlackRock Asset Management Private Limited, enabling the 50:50 joint venture between Jio Financial Services Limited (JFSL) and BlackRock to commence mutual fund operations in India.

The newly established asset management company aims to redefine the Indian investment landscape by offering innovative, data-driven, and digitally accessible mutual fund products to both retail and institutional investors, the asset management company said.

"JioBlackRock Asset Management will bring an innovative investment proposition to the growing number of Indian retail mutual fund investors, as well as to institutional investors in India. The asset management company will seek to leverage the unique strengths of its two sponsors: JFSL’s digital reach and its deep understanding of the local market, alongside BlackRock’s global investment expertise and leading risk management technology," said the companies in a joint statement.

Top highlights:

> JioBlackRock Asset Management has received SEBI’s nod to begin operations as an investment manager for mutual funds in India.

> The company combines Jio’s extensive digital infrastructure and local market insight with BlackRock’s global investment expertise and industry-leading risk management technology.

> Aimed at India’s growing base of retail investors, the platform promises institutional-grade products at competitive pricing with user-friendly digital access.

> JioBlackRock plans to leverage Aladdin—BlackRock’s proprietary risk management platform—to deliver high-quality investment strategies with a unified data infrastructure.

"Our partnership with BlackRock is a powerful combination of global investment expertise and Jio’s digital-first innovation. Together, we are committed to making investing simple, accessible, and inclusive for every Indian," said Isha Ambani, Non-Executive Director, JFSL.

> Sid Swaminathan, former Head of International Index Equity at BlackRock overseeing $1.25 trillion AUM, has been named Managing Director & CEO. He also led BlackRock’s fixed income strategies for Europe.

> A range of mutual fund offerings, including data-driven investment products tailored to Indian investors, will be rolled out in the coming months.

"JioBlackRock’s digital-first customer proposition will enable more people in India to enjoy the many benefits of access to the capital markets," said Rachel Lord, Head of International at BlackRock.