Mukesh Ambani entered the mutual fund business, joined hands with global company BlackRock, will get this benefit

India’s richest person Mukesh Ambani is going to enter another new business. In fact, Mukesh Ambani’s Jio Financial Services Limited (JFSL) subsidiary has got the approval of the Capital Markets Regulator (SEBI) for mutual fund business. The company gave this information on Tuesday. JioBlackRock Asset Management is a 50:50 joint venture of Jio Finance Services Limited and BlackRock Company. JFSL said in a statement, the Securities and Exchange Board of India has granted a registration certificate to ‘JioBlackRock Mutual Fund’ through a letter dated May 26, 2025. Jio BlackRock Asset Management Private Limited has been approved to act as the asset management company for Jio BlackRock Mutual Fund.

Together we will make investing easier

Isha ​​Ambani, non-executive director of Jio Financial Services Limited, said that India’s fast-growing economy is driven by the new generation. Our partnership with BlackRock is a strong combination of global investment understanding and Jio’s new digital way of working. Together, we are committed to making investing easy, accessible and inclusive for every Indian. We are confident that JioBlackRock Asset Management will make a big difference in shaping the future of financial empowerment in India.

At the same time, Sid Swaminathan, Managing Director and CEO, Jio BlackRock Asset Management Private Limited, said that JioBlackRock Asset Management aims to provide institutional level investment options to the investors of India in a digital way and contribute to the development of the investment environment in the country. He said that I am honored to lead JioBlackRock Asset Management, and I am committed to helping transform asset management in India, so that investors get an opportunity to take advantage of the possibilities of direct investment.

Applied to SEBI in 2023

JFSL and BlackRock have made an initial investment of Rs 82.5 crore in this unit. Jio Financial and BlackRock Financial Management Inc. filed papers with SEBI on October 19, 2023 to seek permission to commence mutual fund business. Sid Swaminathan brings over 20 years of asset management experience to the position. Prior to this, he was Head of International Index Equity at BlackRock, where he was responsible for $1.25 trillion of assets under management. Prior to that, he served as Head of Fixed Income Portfolio Management for Europe at BlackRock, where he was responsible for systematic and indexed strategies.