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Mumbai: JioBlackRock Asset Management, a joint venture between Mukesh Ambani’s Jio Financial Services and US-based BlackRock, has received Sebi approval to start the mutual fund business in India.
Sid Swaminathan, a BlackRock veteran, has been appointed as its managing director and chief executive, said a release.
In July 2023, Jio and BlackRock had announced a pact to create Jio BlackRock, a 50:50 JV, marking the US-based asset manger’s re-entry into the Indian market after it exited in 2018. BlackRock manages assets worth $11.58 trillion globally as of March 31. Blackrock had exited India in 2018 by selling its stake in DSP Blackrock Mutual Fund.
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https://economictimes.indiatimes.com/mf/analysis/jioblackrock-receives-sebi-approval-to-launch-mutual-fund-business-in-india/articleshow/121451479.cms
