JioBlackRock asset management gets SEBI nod for mutual funds business

Jio BlackRock Asset Management Private Limited (JioBlackRock Asset Management), a 50:50 joint venture between Jio Financial Services Limited and BlackRock, has received regulatory approval from the Securities and Exchange Board of India (SEBI) to commence operations as an investment manager for their mutual fund business in India.

Isha Ambani, Non-Executive Director, JFSL, said: "India’s rapid growth is driven by a new generation with bold aspirations. 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. I am confident that JioBlackRock Asset Management will play a transformative role in shaping the future of financial empowerment in India."

Rachel Lord, Head of International at BlackRock, said: “The opportunity in asset management in India today is tremendously exciting. JioBlackRock’s digital-first customer proposition, delivering institutional quality products at a lower cost directly to investors, will enable more people in India to enjoy the many benefits of access to the capital markets. Together with our partner JFSL, we look forward to contributing to the country’s continued evolution from a nation of savers to a nation of investors.”

JioBlackRock Asset Management has announced the appointment of Sid Swaminathan as Managing Director and Chief Executive Officer (CEO).

Sid Swaminathan brings over 20 years of asset management experience to the role. He was previously Head of International Index Equity at BlackRock, where he was responsible for an AUM of $1.25 trillion. Prior to that, he served as the Head of Fixed Income Portfolio Management for Europe at BlackRock, responsible for Systematic and Indexed strategies.

Sid’s deep understanding of investments – across asset classes, investment styles and geographies – will play a key role in his leadership of JioBlackRock Asset Management, as the JV works to deliver innovative investment products to millions of investors in India.

Sid Swaminathan, Managing Director s CEO, Jio BlackRock Asset Management Private Limited, said: “JioBlackRock Asset Management aims to digitally deliver institutional quality investment products to investors across India and contribute to the growth of the country’s investment ecosystem. I am honoured to lead JioBlackRock Asset Management and help transform asset management in India by empowering investors to directly harness the potential of investing.”