JioBlackRock Asset Management gets Sebi’s nod to launch 5 mutual fund schemes

Of these five schemes, four are equity-oriented index funds while one is a debt-oriented index fund

New Delhi: JioBlackRock Asset Management, a 50:50 joint venture between Jio Financial Services and BlackRock, has received markets regulator Sebi’s approval to launch five mutual fund schemes.

These funds are JioBackRock Nifty 50 index, JioBlackRock Nifty 8-13 yr G-Sec Index Fund, JioBlackRock Nifty Smallcap 250 Index Fund, JioBlackRock Nifty Next 50 Index Fund, and JioBlackRock Nifty Midcap 150 Index Fund, an update with Sebi showed on Wednesday.

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Of these five schemes, four are equity-oriented index funds while one is a debt-oriented index fund.
On July 7, JioBlackRock Asset Management announced the closure of its maiden New Fund Offer (NFO), recording a total investment of Rs 17,800 crore (USD 2.1 billion).

The fund was mobilised from three cash/debt mutual fund schemes—JioBlackRock Overnight Fund, JioBlackRock Liquid Fund and JioBlackRock Money Market Fund.

The three-day NFO received an overwhelming response from over 90 institutional investors and more than 67,000 retail investors.