Jio BlackRock Mutual Fund Raises Rs 17,800 Crore Through Maiden NFO

JioBlackRock Asset Management Pvt. has closed its maiden new fund offer after recording a total investment of Rs 17,800 crore, as per an announcement made by the company on Monday.

JioBlackRock is a 50:50 joint venture between Jio Financial Services Ltd. and BlackRock. The fund was mobilised from three cash/debt mutual fund schemes — JioBlackRock Overnight Fund, JioBlackRock Liquid Fund and JioBlackRock Money Market Fund.

The three-day NFO was launched on June 30 and attracted investments from over 90 institutional investors.

The cash/debt mutual fund schemes also recorded over 67,000 retail investors investing in these funds during the offer period.

The NFO was one of the largest in India’s cash/debt fund segment, placing JioBlackRock Asset Management among the top 15 asset management companies by debt assets under management in the country, out of 47 fund houses, it said. It added that the NFO closed on July 2.