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Jio BlackRock MF files with Sebi to launch two debt funds

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Jio BlackRock Mutual Fund (MF), which on May 26 received the nod from the markets regulator Sebi to start operation, filed with the regulator to launch two debt schemes—liquid and money market funds—to kickstart its fund management business.On Wednesday, the Jio BlackRock joint venture also got regulator nods to start its investment advisory business in India, the company said in a statement.Jio BlackRock Liquid Fund is an open-ended liquid scheme that carries a relatively low interest rate risk and relatively low credit risk, the fund house said in its draft offer document filed with Sebi. The fund house’s other scheme is a money market fund, which is an open-ended debt scheme investing in money market instruments. The scheme carries a relatively low interest rate risk and moderate credit risk, it said.On Wednesday, Jio BlackRock Investment Advisers said it received approvals from Sebi and BSE “to commence operations as a registered investment adviser in India.” The JV is aiming to offer digital-first, personalised investment advisory solutions that will combine BlackRock’s global expertise and tech with Jio Finance’s local market knowledge and digital reach.The company also appointed Marc Pilgrem, a seasoned global financial services leader with over 25 years of experience at BlackRock, as its MD & CEO.

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