Jio Financial Gets Green Light to Launch Mutual Fund Operations

Jio Financial Services received a go-ahead from the Securities Exchange Board of India (SEBI) to commence mutual fund operations in the country.

As per a letter, SEBI has granted permission for a certificate of registration to Jio BlackRock Mutual Fund, while giving approval to Jio BlackRock Asset Management Private Limited to act as the Asset Management Company for Jio BlackRock Mutual Fund.

On October 29, 2024, the company announced the incorporation of two entities — 'Jio BlackRock Asset Management Private Limited' and 'Jio BlackRock Trustee Private Limited' — to undertake mutual fund operations, subject to regulatory approvals.

In January, JFSL said that the company and its joint venture partner, US-based BlackRock have invested ₹117 crore in the mutual fund entity.