Mumbai, Maharashtra, 27th of May, 2025 : Jio BlackRock Asset Management Private Limited (JioBlackRock Asset Management), a 50:50 joint venture between Jio Financial Services Limited (JFSL) [BSE, NSE: JIOFIN] and BlackRock [NYSE: BLK], 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.
JioBlackRock Asset Management will bring an innovative investment proposition to the growing number of Indian retail mutual fund investors, as well as to institutional investors in India. The asset management company will seek to leverage the unique strengths of its two sponsors: JFSL’s digital reach and its deep understanding of the local market, alongside BlackRock’s global investment expertise and leading risk management technology.
Key differentiators for all investors of the JioBlackRock Asset Management offering will include competitive and transparent pricing and innovative products, supported by the application of BlackRock’s pre-eminent risk management expertise. This includes Aladdin, BlackRock’s globally renowned proprietary technology platform that unifies the investment management process through a common data language. For retail investors, the offering will also be distinctive for its digital-first customer proposition. JioBlackRock Asset Management aims to launch a range of investment products, including those that apply BlackRock’s industry-leading capabilities in data-driven investing, over the coming months.
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.”
BlackRock refers to BlackRock Financial Management Inc.
JioBlackRock Asset Management is also pleased to announce the appointment of Sid Swaminathan as it’s 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.jt
Sid Swaminathan, Managing Director & 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.”
About Jio BlackRock Asset Management Private Limited:
Jio BlackRock Asset Management Private Limited (JBAMPL or JioBlackRock Asset Management) is a 50:50 joint venture between Jio Financial Services Limited (JFSL) and BlackRock (‘the shareholders’). JioBlackRock Asset Management will seek to combine BlackRock’s global investment expertise and leading risk management technology with JFSL’s digital reach and knowledge of the local market in India. The organisation aims to provide innovative, affordable and easily accessible investment solutions for the people of India.
About Jio Financial Services Limited:
Jio Financial Services Limited (JFSL) is a Core Investment Company (CIC), registered with the Reserve Bank of India. JFSL is a new-age institution, which operates a full-stack financial services business through customer-facing entities, including Jio Finance Limited, Jio Insurance Broking Limited, Jio Payment Solutions Limited, Jio Leasing Services Limited, Jio Finance Platform and Service Limited, and Jio Payments Bank Limited.
Its digital-first model aims to ensure the holistic financial well-being of Indian citizens by enabling them to borrow, transact, save and invest seamlessly. Through the JioFinance app, customers can access a range of services including loans, savings accounts, UPI bill payments, recharges, digital insurance, financial tracking and management tools and more. JFSL has also entered into a joint venture with BlackRock, the world’s leading providers of investment solutions, to offer asset management, wealth management and broking services in India.
JFSL was originally incorporated as Reliance Strategic Investments Private Limited on July 22, 1999, under the Companies Act 1956. Subsequently, the name of the Company was changed to Reliance Strategic Investments Limited and a fresh certificate of incorporation was issued on January 14, 2002. Thereafter, pursuant to a scheme of demerger with Reliance Industries Limited, the name of the Company was further changed to ‘Jio Financial Services Limited’ and a fresh certificate of incorporation was issued on July 25, 2023. JFSL has been listed on the BSE and NSE since August 21, 2023.
For more updates, please visit www.jfs.in
About BlackRock:
BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com/corporate
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