Jio Financial Services Ltd (JFS), the financial arm of Reliance Industries, announced on October 4 that SEBI has granted in-principle approval for its joint venture with BlackRock Financial Management to establish a mutual fund business. This approval allows JFS and BlackRock to act as co-sponsors for the proposed mutual fund
The final approval for registration will be granted once both companies meet SEBI’s conditions. JFS and BlackRock had previously formed a 50:50 joint venture in July 2023, marking BlackRock’s return to the Indian market after its exit in 2018. This partnership aims to combine BlackRock’s global expertise with JFS’s local market strength and digital infrastructure.
The venture, named “Jio BlackRock,” will focus on expanding investment product offerings in India.
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Source: Moneycontrol
News Desk
