New Delhi, Jan 20 (PTI) Jio BlackRock Asset Management, which launched its services in May, has built an investor base of 10 lakh, with nearly 18 per cent comprising first-time mutual fund investors, its MD
and CEO Sid Swaminathan said on Tuesday.
The joint venture between Jio Financial Services and BlackRock has also seen strong participation from investors beyond major metros, with 40 per cent of its retail investors coming from B-30 cities, significantly higher than the industry average of 28 per cent.
B-30 cities in India refer to cities beyond the top 30.
Speaking to reporters here, Swaminathan attributed this deeper market penetration to its technology-led approach and sustained focus on investor education.
Jio BlackRock AMC manages assets worth over Rs 13,700 crore, with equities accounting for around 30 per cent of the total assets under management, while the remaining 70 per cent is invested in fixed income and cash.
Looking ahead, the company plans to focus on key strategic initiatives, including the launch of Specialised Investment Funds (SIFs) and exchange-traded funds (ETFs), and on offering international investment exposure through GIFT City.
"We have recently received a no-objection certificate from Sebi to launch Specialised Investment Funds (SIFs), and we are very excited about this opportunity," he said.
The initiative will enable Indian investors to access global allocation opportunities in a responsible manner, while also allowing international investors to tap into differentiated investment opportunities in India.
Alongside this, the company is exploring the launch of exchange-traded funds (ETFs) to ensure investors have access to a comprehensive set of core investment building blocks.
The year could also see the rollout of a series of mutual fund offerings. The active funds will be powered by BlackRock’s Systematic Active Equity (SAE) platform, the same platform underpinning its maiden active equity offering, the JioBlackRock Flexicap Fund.
The first of these new launches will be the JioBlackRock Sector Rotation Fund, with its new fund offer (NFO) opening on January 27 and closing on February 9.
As equity markets tend to move in cycles, impacting sectors differently, the fund is designed to dynamically rotate across sectors based on macroeconomic and market indicators, while actively managing risk amid evolving market conditions and emerging opportunities. PTI SP DRR
