Latest news with #mutualfund
Bloomberg
a day ago
- Business
- Bloomberg
Jio BlackRock Said to Hire Kohli as CIO of Mutual-Fund Unit
The newly formed mutual-fund arm of Jio BlackRock Asset Management has appointed Rishi Kohli as its chief investment officer, according to people familiar with the matter. Kohli will start in the third quarter of this year, the people said, asking not to be named as the information is private. He was managing partner and chief investment officer for hedge fund strategies at financial-services provider InCred Capital in Mumbai and previously worked at Avendus and ProAlpha Capital, according to his LinkedIn profile.
Reuters
2 days ago
- Business
- Reuters
Jio BlackRock gets regulatory approval to operate as investment adviser in India
June 11 (Reuters) - Jio BlackRock Investment Advisers (JBIAPL) has received approval from India's markets regulator to operate as an investment adviser, according to its parent company, Jio Financial Services ( opens new tab. JBIAPL is a 50:50 joint venture, opens new tab of the billionaire Mukesh Ambani-led Reliance Industries with Blackrock, the world's largest asset manager. Earlier this year, both entities invested, opens new tab 665 million rupees ($7.78 million) into the joint venture, bringing their total investment to 845 million rupees. The approval adds to Jio-BlackRock's growing financial services footprint in India. Jio BlackRock has also recently received approval from the Securities and Exchange Board of India to launch its mutual fund business in the country. Jio Financial Services' shares closed 0.05% lower on Wednesday. ($1 = 85.5020 Indian rupees)
Yahoo
27-05-2025
- Business
- Yahoo
Jio BlackRock gets approval to start mutual fund business in India
MUMBAI (Reuters) -Billionaire Mukesh Ambani-led Reliance Group and U.S.-based BlackRock have received approval from India's markets regulator to start operations for their mutual fund business, the Indian company said on Tuesday. Jio Financial Services, a part of the Reliance Group, had in July 2023 announced the formation of a 50:50 joint venture with the world's largest asset manager to launch asset management services in India. The JV, Jio BlackRock Asset Management, plans to launch a range of investment products in the coming months based on a "digital first" approach for retail and institutional investors. The products will apply BlackRock's capabilities in data-driven investing including 'Aladdin', the U.S.-based firm's investment and risk management system, Jio BlackRock said. Sid Swaminathan, who previously headed International Index Equity at BlackRock, has been appointed as the managing director and chief executive at Jio BlackRock. India currently has 44 asset management companies that manage a total of 69.50 trillion rupees ($813.8 billion). ($1 = 85.4075 Indian rupees) Sign in to access your portfolio
Reuters
27-05-2025
- Business
- Reuters
Jio BlackRock gets approval to start mutual fund business in India
MUMBAI, May 27 (Reuters) - Billionaire Mukesh Ambani-led Reliance Group and U.S.-based BlackRock (BLK.N), opens new tab have received approval from India's markets regulator to start operations for their mutual fund business, the Indian company said on Tuesday. Jio Financial Services ( opens new tab, a part of the Reliance Group, had in July 2023 announced the formation of a 50:50 joint venture with the world's largest asset manager to launch asset management services in India. The JV, Jio BlackRock Asset Management, plans to launch a range of investment products in the coming months based on a "digital first" approach for retail and institutional investors. The products will apply BlackRock's capabilities in data-driven investing including 'Aladdin', the U.S.-based firm's investment and risk management system, Jio BlackRock said. Sid Swaminathan, who previously headed International Index Equity at BlackRock, has been appointed as the managing director and chief executive at Jio BlackRock. India currently has 44 asset management companies that manage a total of 69.50 trillion rupees ($813.8 billion). ($1 = 85.4075 Indian rupees)
