Jio BlackRock Asset Management has attracted a record investment in its inaugural new fund offer, closing with $2bn invested across its three mutual fund schemes.
The three-day offer period saw over 90 institutional investors commit capital to the funds while around 67,000 individuals invested in the Overnight fund, Liquid fund, and Money Market fund.
The NFO, which closed on 2 July, was one of the largest in India’s cash/debt fund sector, placing JioBlackRock Asset Management - a 50:50 joint venture between Jio Financial Services and BlackRock - among the top 15 asset management companies by debt assets under management in the country, out of 47 fund houses.
Sid Swaminathan, managing director and CEO at JioBlackRock Asset Management, said: “The overwhelming response to our first NFO from institutional and retail investors is a powerful endorsement of JioBlackRock Asset Management’s innovative investment philosophy, risk management capabilities and digital-first approach.
“This is a strong start to our journey towards becoming a transformative force in India’s evolving investment landscape, catering to all types of investors.”
