Mukesh Ambani, India’s richest person Going to enter another new business. In fact, Mukesh Ambani’s Geo Financial Services Limited (JFSL) subsidiary company has got the approval of the capital market regulator (SEBI) for the mutual fund business. The company gave this information on Tuesday. The JioCroacrock Asset Management, Jio Finance Services Limited and Blacrock are the 50:50 venture of the company. JFSL said in a statement, the Securities and Exchange Board of India has provided a registration certificate to ‘JioCort Mutual Fund’ through a letter dated 26 May, 2025. The Jio Blackrock Asset Management Private Limited has received approval to function as a property management company for the Jio Blacrock Mutual Fund.
We will make investment easy together
Isha Ambani, the non-executive director of Geo Financial Services Limited, said that India’s fast growing economy is inspired by the new generation. Our partnership with Blackrock is a strong combination of investment understanding of the world and the way Jio’s digital way of doing new work. Together we are committed to make investment easy, accessible and everyone carrying along with every Indian. We are confident that the JioCroacrock asset management will bring a big change in shaping the future of financial empowerment in India.
At the same time, Sid Swaminathan, Managing Director and CEO of Jio Blackrock Asset Management Private Limited, said that the goal of JioCortic Asset Management is to deliver India’s investors digitally institutional level investment options and contribute to the development of investment environment in the country. He said that I have received the honor of leading the JioCcrock Asset Management, and I am committed to help changing asset management in India, so that investors can get an opportunity to avail direct investment possibilities.
Application was made with SEBI in 2023
JFSL and Blackrock have invested an initial investment of Rs 82.5 crore in this unit. Jio Financial and Blackrock Financial Management Inc. filed documents before SEBI on October 19, 2023 to get permission to start a mutual fund business. Sid Swaminathan has brought more than 20 years of experience of asset management to this post. Earlier, he was the Head of International Index Equity in Blackrock, where he was responsible for the $ 1.25 trillion asset under management. Prior to that, he served as the head of the fixed income portfolio management for Europe in Blackrock, where he was responsible for the systematic and indexed strategies.
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