JioBlackRock Launches Four New Mutual Funds — Three In Equity For First Time

Jio BlackRock Asset Management Company on Wednesday received Indian market regulator SEBI's approval for launching four new mutual fund schemes, with marking their foray into the equity category.

The fund house received approval for launching three passively managed equity funds tracking the Nifty Next 50 index, the Nifty Midcap 150 index, and the Nifty Smallcap 250 index, along with a Nifty 8-13 yr G-Sec Index fund in the debt category.

According to the schemes' summary, the four schemes shall only offer a direct plan, and growth option, without an exit load.

The minimum investment amount for all schemes is set at Rs 500 for all schemes, for both the lumpsum as well as the systematic investment plan (SIP) route.

The asset management company has recently concluded new fund offers for three debt-oriented schemes, namely Jio BlackRock Liquid Fund, Jio BlackRock Money Market Fund, and the Jio BlackRock Overnight Fund.

The new fund offers for all three had opened on June 30, and ended on July 2, with a minimum investment amount of Rs 500.

Assets under management for the three existing schemes, according to data from Association of Mutual Funds in India, stood as follows, as on July 14:

• Jio BlackRock Liquid Fund: Rs 8721.3 crore

• Jio BlackRock Money Market Fund: Rs 6416.8 crore

• Jio BlackRock Overnight Fund: Rs 1722.7 crore

The dates for the NFO have not yet been announced.