JioBlackRock Wants To Address Full Spectrum Of Investors In India: CEO On Future Strategy
The initial response to the new fund offerings has been 'overwhelmingly positive', says Sid Swaminathan.
JioBlackRock Asset Management Co.'s core goal is to cater to the entire investment spectrum in India and the firm's deployment strategy was deliberate and phased, according to Chief Executive Officer Sid Swaminathan.
In a conversation with NDTV Profit on Tuesday, he also spoke about the overwhelming response to its initial fund offerings. Swaminathan also shed light on the integration of BlackRock's globally renowned technology platform, Aladdin.
"We wanted to make sure that we address the full spectrum of investors in India," he stated.
He explained the rollout and said: "We started with debt funds aimed at institutional investors, followed by index funds to offer core building blocks for retail investor portfolios, and finally introduced active equity, which is next big thing in India."
Swaminathan On NFOs
Swaminathan said that the initial response to the new fund offerings had been "overwhelmingly positive".
He said JioBlackRock has adopted a direct digital model, where retail investors primarily access its product offerings via their mobile phones. The company is preparing for a significant expansion in product depth.
"Systematic active equity will see many more funds being launched in the coming months," Swaminathan confirmed. The AMC is actively exploring new fund categories, specifically "looking at funds that will look at sector perspective or asset allocation perspective", alongside a focus on the "thematic funds space right now".
Swaminathan On Client Base
JioBlackRock has seen exceptional participation rates across its initial offerings, highlighting strong investor confidence. The initial NFOs saw participation from over 70,000 investors, with a similar number joining the index NFOs. The latest NFO has seen participation beyond those figures, informed Swaminathan
Swaminathan revealed that "over 10% of investors coming to us are completely new to markets."
Aladdin Software
Swaminathan said that Aladdin is the tech platform that acts as the backbone of all the firm's investments. Developed and used at BlackRock for over 30 years, the platform is where BlackRock manages all of its global assets. JioBlackRock is the first company to bring the full power of the Aladdin ecosystem to India.
The software is comprehensive, covering the entire end-to-end process for the AMC’s investment operations. Internally, Aladdin is affectionately called as the "Language of Portfolios," Swaminathan said.
