SEBI Named Sid Swaminathan CEO and Approved Jio BlackRock Mutual Find

By siliconindia | Tuesday, 27 May 2025, 10:35 Hrs

SEBI has approved Jio BlackRock Asset Management to launch its mutual fund operations in India and appointed Sid Swaminathan as CEO.
The Jio-BlackRock joint venture aims to offer innovative, low-cost, digital-first investment solutions backed by global expertise.
The initiative is set to transform India's mutual fund landscape by promoting accessibility and financial inclusion.

Jio BlackRock Asset Management Private Limited, a joint venture equally owned by Jio Financial Services Limited (JFSL) and the global investment leader BlackRock has obtained the final authorization from the Securities and Exchange Board of India (SEBI). This is to initiate its operations as an investment manager for their mutual fund activities in India.

In a regulatory filing Jio Financial Services confirmed highlighted, “the Securities and Exchange Board of India, vide letter dated May 26, 2025, has granted: (a) certificate of registration to ‘Jio BlackRock Mutual Fund’; and (b) approval to Jio BlackRock Asset Management Private Limited to act as the Asset Management Company for ‘Jio BlackRock Mutual Fund”.

This achievement comes after the initial declaration of the partnership on July 26, 2023, when JFSL and BlackRock announced their intentions to enter the asset management sector in India. In October 2024, SEBI provided in-principle approval, and the companies Jio BlackRock Asset Management Private Limited and Jio BlackRock Trustee Private Limited were officially established on October 28, 2024.

In an official statement, the company emphasized “Key differentiators for all 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”.

Isha Ambani, Non-Executive Director of JFSL, commented, “Our partnership with Black Rock 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, added, “JioBlackRock’s digital-first model and institutional-grade offerings at lower costs will open the doors of capital markets to more Indians.”

JioBlackRock's commitment to a digital-first strategy provides institutional-quality products at a reduced cost straight to investors, allowing a larger segment of the Indian population to benefit from access to capital markets,” stated Rachel Lord, Head of International at BlackRock. The introduction of Jio BlackRock Mutual Fund is set to transform the Indian mutual fund industry, focusing significantly on digital innovation and promoting financial inclusion.