JioBlackRock Mutual Fund seeks Sebi nod to launch 8 new funds: Report
JioBlackRock Mutual Fund has applied to the Securities and Exchange Board of India (Sebi) to launch eight new schemes, according to a Reuters report. This follows the launch of its first three funds. The upcoming funds will offer investment options starting at just Rs 500, targeting wider retail participation.Jio BlackRock Asset Management plans to introduce nearly a dozen equity and debt funds in India by the year-end, focusing on small-ticket investments and bypassing distributors to reduce costs, the report further said.
Also Read | Jio BlackRock raises more than Rs 17,800 crore through debut new fund offer
The report also stated that JioBlackRock plans to bypass the traditional distributor network by offering its funds directly to both institutional and retail investors. This approach is expected to lower the fees or expense ratios typically associated with mutual fund investments.
The fund house on Monday announced the successful closure of its maiden New Fund Offer (NFO), receiving a total investment of Rs 17,800 crore (USD 2.1 billion), across three cash/debt mutual fund schemes – JioBlackRock Overnight Fund, JioBlackRock Liquid Fund and JioBlackRock Money Market Fund.
The three-day NFO, which was launched on June 30 and closed on July 2, attracted investments from over 90 institutional investors, reflecting confidence in JioBlackRock Asset Management's value proposition that combines data-driven investing and a digital-first approach.The cash/debt mutual fund schemes also recorded an overwhelming response from retail investors, with over 67,000 individuals investing in these funds during the offer period.'The overwhelming response to our first NFO from institutional and retail investors is a powerful endorsement of JioBlackRock Asset Management's innovative investment philosophy, risk management capabilities and digital-first approach. This is a strong start to our journey towards becoming a transformative force in India's evolving investment landscape, catering to all types of investors,' said Sid Swaminathan, Managing Director and CEO, JioBlackRock Asset Management.JioBlackRock Asset Management has also rolled out a new account creation feature on the JioFinance app to streamline onboarding for retail investors. The initiative is aimed at making it easier for users to set up investment-ready accounts quickly ahead of the fund house's upcoming launches.
Also Read | JioBlackRock launches mutual fund access on MyJio, calls it a new era of investing Last week, the JioBlackRock Mutual Fund announced the launch of mutual fund access on the MyJio app and called it a new era of investing. The fund house posted on social media platform X that, 'A new era of investing has begun on the MyJio app.'
https://x.com/JioBlackRockmf/status/1940643190262173897
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').
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India.com
18 minutes ago
- India.com
Bad news for Noel Tata, Rs 78000000000 demand notice to this Ratan Tata company by DoT over…
The Department of Telecom (DoT) has issued a 'show-cause-cum-demand notice' to Tata Communications, seeking approximately Rs 7,800 crore in adjusted gross revenue (AGR) dues, according to an official company note. The demand pertains to AGR liabilities spanning the period from 2005-06 to 2023-24, as outlined in the note dated July 17. Tata Communications On Notice Over AGR dues 'As at June 30, 2025, the company has received 'Show Cause-cum Demand Notices' ('demand notices') from Department of Telecommunications of India aggregating to Rs 7,827.55 crore for financial years ranging from FY 2005-06 to FY 2023-24, which have been revised over a period of time,' Tata Communications Managing Director AS Lakshminarayan said. He said the demand notices include Rs 276.68 crore towards disallowance of deductions claimed by the company on payment basis for the financial year (FY) 2010-11 under ISP (internet service provider) licence and FY07 and FY10 under NLD (national long distance) licence. Tata Communications has existing appeals relating to its ILD (International Long Distance), NLD, and ISP licences that were filed in the past and are pending at the Supreme Court and telecom tribunal TDSAT. Lakshminarayan said the company's appeals are not covered by the apex court judgement dated October 24, 2019, on AGR under the old telecom licence regime called UASL. 'Further, the company believes that all its licences are different from UASL, which was the subject matter of Hon'ble Supreme Court judgement of October 24, 2019. The company, based on its assessment and independent legal opinions, believes that it will be able to defend its position,' Lakshminarayan said. What Is AGR Dues Matter Of Telecom Operators? As per initial calculation by the government, telecom operators had liability to pay around Rs 1.65 lakh crore in total AGR dues till FY19. The calculation as of March 2022 showed that the AGR liability on Bharti Airtel was Rs 31,280 crore, Vodafone Idea Rs 59,236.63 crore, Reliance Jio Rs 631 crore, BSNL Rs 16,224 crore, MTNL Rs 5,009.1 crore up to financial year 2018-19. The government calculation at that time did not include liability on Tata Communications. (With Inputs From PTI)
India.com
18 minutes ago
- India.com
Forget Physical Gold, This RBI Gold Scheme Is Giving Massive 251% Returns
photoDetails english 2938064 The Sovereign Gold Bond (SGB) 2017-18 Series-II, issued on July 28, 2017, matured on July 28, 2025, with a redemption price of Rs 9,924 per gram, reflecting a remarkable 250.67 percent capital gain over the original issue price of Rs 2,830. In addition, investors earned 2.5 percent annual interest, totaling approximately 20 percent over the 8-year tenure. While this interest is taxable, capital gains for individuals upon maturity are exempt from tax. Issued by the RBI for the Government of India, SGBs are a secure and convenient alternative to physical gold, offering market-linked returns without storage risks or making charges. Updated:Jul 28, 2025, 02:37 PM IST Final Redemption Date and Price 1 / 7 The Reserve Bank of India (RBI) has set the final redemption of Sovereign Gold Bond (SGB) 2017-18 Series-II on July 28, 2025, at a price of Rs 9,924 per gram. Calculation of Redemption Price 2 / 7 The redemption price is determined by the simple average of the closing price of gold of 999 purity for the week preceding the date of redemption (July 21–25, 2025), as published by the India Bullion and Jewellers Association Ltd (IBJA). Issuance Details and Returns 3 / 7 This SGB tranche was issued on July 28, 2017, at an issue price of Rs 2,830 per gram (excluding online discount). The final payout provides investors with a 250.67 percent return (Rs 7,094 gain per unit) over the 8-year holding period, excluding interest. Interest Earnings 4 / 7 Investors also earned a 2.50 percent annual interest (paid semi-annually) on the nominal value throughout the tenure, leading to a cumulative interest gain of around 20 percent across the maturity period. Taxation Benefits 5 / 7 Interest income on SGBs is fully taxable as per the Income-tax Act, 1961. Capital gains on maturity are exempt from tax for individuals, making the redemption proceeds tax-free. Indexation benefits are provided if SGBs are transferred before maturity. What Are Sovereign Gold Bonds? 6 / 7 SGBs are government securities denominated in grams of gold, issued by the RBI on behalf of the Government of India. They serve as a paper and digital alternative to physical gold, with cash-based issuance and redemption. Advantages Over Physical Gold 7 / 7 SGBs protect the quantity of gold purchased, offer returns linked to the current market price at redemption, avoid storage risk/costs, and have no concerns about making charges or purity, unlike gold jewelry. Bonds can be held in demat or RBI records, reducing risk of loss.
Economic Times
18 minutes ago
- Economic Times
RIL shares down over 7% in 1 year, Macquarie gives Rs 1,580 target price
Despite Mukesh Ambani's Reliance Industries Ltd (RIL) stock declining 7.5% over the past year, global brokerage firm Macquarie remains bullish on the stock and has assigned a target price of Rs 1,580. ADVERTISEMENT The firm has maintained an 'Outperform' rating, citing multiple growth levers, a reset in earnings expectations post-June quarter, and potential reinvigoration in the company's retail segment. Macquarie now forecasts a 10–12% compound annual growth in earnings per share (EPSg) for FY25–28e, with earnings estimates trimmed post the Q1 results. The revised estimates are 5–8% below Visible Alpha (VA) consensus for FY26–28e. Nonetheless, the brokerage remains positive on RIL's prospects, calling it one of its "Super 6" best ideas and expects improving fundamentals to support a re-rating in the projects Reliance's EBITDA for FY27–28 at $10–11.5 billion, supported by 200–300 basis points in margin improvement. However, it notes that EBIT may still lag due to higher depreciation and amortization. ADVERTISEMENT In the Jio segment, subscriber growth is estimated at 2% with ARPU growth of 8–10% annually, slightly above consensus, though EBIT is expected to be weighed down by elevated Retail, revenue forecasts have been trimmed, with Macquarie now expecting a 13% CAGR in FY25–28. EBIT margins, however, are seen improving by around 100 basis points, assuming no losses from Jiomart, as the business leverages its existing footprint. The firm sees only modest growth in retail due to limited visibility but notes that improved productivity per square foot and store additions remain key upside triggers. ADVERTISEMENT In Oil to Chemicals (O2C), Macquarie has made no material changes, maintaining its existing recovery outlook. For Exploration & Production (E&P), EBIT forecasts have been sharply cut, particularly for KGD6, due to higher opex and revised volume assumptions. Also read: NSDL IPO: What GMP signals ahead of launch and what it means for investors The brokerage has also increased its capex forecasts, anticipating higher spend in the New Energy segment, which is one of the company's long-term focus areas. ADVERTISEMENT Macquarie's target price is based on a scenario-weighted sum-of-the-parts (SOTP) valuation model, with adjustments made in Retail, Media, and New Energy segment weightings. Key catalysts for RIL's stock performance include: Strategic direction and growth targets at the upcoming AGM, Recovery in retail revenue, Commissioning of new energy capacities, Progress toward the listing of Jio. Despite the lowered earnings estimates relative to consensus, Macquarie believes the current environment provides a tactical opportunity to accumulate the stock ahead of a potential improvement in earnings momentum and positive triggers from upcoming corporate events. ADVERTISEMENT The key downside risks highlighted by Macquarie include a failure in earnings delivery, slower-than-expected retail revenue growth, and delayed or muted impact of Jio tariff adjustments. However, the firm remains constructive on the long-term outlook, banking on multiple growth levers across segments. Around 1:30 pm today, the shares of Reliance Industries were trading flat at Rs 1,395.95 on the BSE. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
