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Mint
9 hours ago
- Business
- Mint
Jio BlackRock launches Aladdin investment platform for Indian investors
Jio BlackRock, a 50:50 joint venture between Jio Financial Services (JFSL) and BlackRock, on Monday introduced Aladdin, which it described as a unique investment analytics and risk management platform. "Investing should be simple. And it should work for you. That's the belief that brought Jio Financial Services and BlackRock together. We've blended Jio's digital-first approach with BlackRock's global investment expertise to build solutions around what Indian investors truly need," the mutual fund company said in a post on X. For the first time ever, Aladdin—BlackRock's investment analytics and risk management platform—is now available in India, it added. "This is just the beginning. We are here to redefine investing by making it accessible and affordable for you. We are Jio BlackRock Mutual Fund," it said. In late May, Jio BlackRock Mutual Fund received SEBI's approval to commence operations as an investment manager for its mutual fund business in India. On June 11, the company also informed the exchanges that Jio BlackRock Investment Advisers (JBIAPL) had received approval from the Securities and Exchange Board of India (SEBI) to operate as an investment adviser. The company has appointed Amit Bhosale as Chief Risk Officer, Amol Pai as Chief Technology Officer, and Biraja Tripathy as Head of Product, among others. Earlier this year, both partners invested ₹ 66.5 crore ($7.78 million) into the joint venture, bringing their total investment to ₹ 84.5 crore. The joint venture was first announced on July 26, 2023, when Jio Financial Services and BlackRock revealed plans to enter India's asset management industry. India's wealth management and mutual funds is witnessing significant growth, driven by a rising number of demat accounts in recent years. Asset management companies reported impressive performance in the March quarter, reflecting the increasing trend of stock investing, supported by higher disposable income and a growing number of affluent individuals. Projections indicate promising prospects for the wealth management industry, with expectations of a sharp increase in the number of high-net-worth individuals (HNIs) and ultra-high-net-worth individuals (UHNIs) in India. Over the past five years, the number of individuals earning over ₹ 1 crore annually has risen by 15%. Forecasts suggest this figure will reach 3.4 lakh over the next five years, contributing to the sector's expansion. Shares of Jio Financial Services have rebounded sharply from their April lows, gaining 36% to trade at ₹ 289 apiece. Jio Financial Services Limited—formerly known as Reliance Strategic Investments Limited, the demerged financial arm of Reliance Industries—entered the stock market on August 21, 2023. It debuted at ₹ 265 per share on the BSE and ₹ 262 per share on the NSE, slightly above its discovered price of ₹ 261.85. The company operates as a non-deposit-taking, non-banking financial company, specializing in retail lending, merchant lending, payments bank operations, payment solutions, and insurance broking. (With inputs from agencies) Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
Mint
09-06-2025
- Business
- Mint
Jio Financial share price jumps 3.5% as Jio BlackRock Mutual Fund appoints leadership team, launches website
Mukesh Ambani-owned Jio Financial Services and global investment giant BlackRock's joint venture, Jio BlackRock Asset Management, on Monday, 9 June 2025, announced that the mutual fund has appointed its leadership team, along with launching an 'early access' for its website. Jio BlackRock 'announces the appointment of its executive leadership team and the launch of its website along with an exclusive early access initiative,' said the company in an official statement. This 'early access' is given to potential investors and people in general, who are eligible to register their interest in JioBlackRock Asset Management's digital-first offerings. Jio BlackRock Mutual Fund's leadership comprises many key industry individuals, apart from Isha Ambani, who is the non-executive director of Jio Financial Services. The company appointed Amit Bhosale as the Chief Risk Officer (CRO), who has prior experience working in risk management across both banking and asset management for Bank of America and ICICI Bank. Jio BlackRock appointed Amol Pai as the Chief Technology Officer (CTO). Pai has prior experience working at Jio Finance Limited and the State Bank of India. Gaurav Nagori has been appointed as the Chief Operating Officer (COO) of the mutual fund. Nargori has worked for DSP Asset Managers, Franklin Templeton and JM Financial. The company positioned Biraja Tripathy as the Head of Product at Jio BlackRock AMC. Tripathy has experience working for Kotak Mahindra Asset Management, Aditya Birla Asset Management and SBI Life Insurance. Disha Bhandary is the Head of Human Resources with over two decades of experience in the industry. Hemanti Wadhwa (Head of Legal) and Komal Narang (Chief Client Officer) are two other key leadership roles appointed by the company. The company appointed Sid Swaminathan as its Managing Director and Chief Executive Officer (CEO) on 27 May 2025 after it officially received regulatory approval from the Securities and Exchange Board of India (SEBI) to commence operations as an investment manager for its mutual fund business in India. Jio Financial Services shares were trading over 3.59 per cent higher at ₹ 304.50 on Monday, compared to ₹ 293.95 at the previous market close. The company announced its appointment details during the stock market session on 9 June 2025. The financial services firm's shares have given stock market investors more than 41.31 per cent returns on their investment since its listing in August 2023. However, the shares have lost nearly 13.5 per cent in the last one-year period. On a year-to-date (YTD) basis, the stock is trading 0.44 per cent lower in 2025, but is currently trading 6.11 per cent higher in the last five stock market sessions. The shares hit their 52-week high level at ₹ 368.30 on 20 June 2024, while the 52-week low level was at ₹ 198.60 on 3 March 2025, according to the data collected from the BSE website. The financial service firm's market capitalisation was over ₹ 1.92 lakh crore as of Monday, 9 June 2025. Read all stories by Anubhav Mukherjee Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
