Debt mutual funds gain traction as Jio BlackRock enters top 15 in India

Jio BlackRock Asset Management announced on 7 July that it has raised ₹17,800 crore across three cash or debt mutual fund schemes—its first offering since securing regulatory approval in May. The schemes include the JioBlackRock Overnight Fund, Liquid Fund, and Money Market Fund.

The joint venture between Jio Financial Services—part of Mukesh Ambani’s Reliance Industries—and US-based BlackRock attracted participation from over 90 institutional investors and more than 67,000 retail investors during the three-day new fund offer (NFO), which closed on 2 July 2025.

The company said the NFO was among the largest in India’s cash/debt segment, placing it among the top 15 asset managers by debt assets under management out of 47 firms.

According to the firm, the offering’s success reflects a powerful combination of global expertise, brand trust, and a digital-first approach.

“The success of our first NFO can be attributed to a compelling combination of a differentiated value proposition, strong brand trust, and a highly strategic go-to-market approach,” a senior executive said.

The fund house combined BlackRock’s investment tools, such as the Aladdin risk platform, with Jio’s digital ecosystem and local market insights.

“Our offering resonated because it merged global best practices with deep local insight and digital accessibility,” the executive added.

Retail participation in typically institutional products marked a key shift.

“Indian savers are evolving into investors—they want better yields, liquidity, and transparency,” said the executive.

Looking ahead, Jio BlackRock is planning new fund offerings aimed specifically at retail investors.

Simultaneously, it has launched an “Account Creation Campaign” to engage directly with individuals.

“It’s not just about onboarding; it’s about building a community,” the firm said.