JioBlackRock Gets SEBI Nod for Mutual Fund Venture; Sid Swaminathan Named MD&CEO

JioBlackRock Asset Management Pvt Ltd, a 50:50 joint venture between Jio Financial Services Ltd (JFSL) and global investment giant BlackRock, has received the nod from the Securities and Exchange Board of India (SEBI) to commence operations in the mutual funds (MF) space.

This regulatory approval marks a significant milestone for the new asset management company (AMC), which promises to blend Jio’s digital-first approach and deep market presence with BlackRock’s global investment expertise and robust risk management infrastructure.

With SEBI’s approval in hand, JioBlackRock Asset Management says it will soon roll out a suite of mutual fund offerings tailored for India’s fast-growing base of retail and institutional investors. Central to the AMC’s proposition will be competitive, transparent pricing and a tech-enabled experience powered by Aladdin — BlackRock’s proprietary investment management platform.

“India’s rapid growth is driven by a new generation with bold aspirations,” says Isha Ambani, non-executive director at JFSL. “Our partnership with BlackRock is a powerful combination of global investment expertise and Jio’s digital-first innovation. Together, we are committed to making investing simple, accessible, and inclusive for every Indian.”

Rachel Lord, head of international at BlackRock, echoed the sentiment, highlighting India’s immense potential. “JioBlackRock’s digital-first customer proposition, delivering institutional quality products at a lower cost directly to investors, will enable more people in India to enjoy the many benefits of access to the capital markets,” she said.

JioBlackRock also announced the appointment of Sid Swaminathan as its managing director and chief executive officer (MD&CEO). Mr Swaminathan brings over two decades of global asset management experience, most recently as head of international index equity at BlackRock, where he oversaw an assets under management (AUM) worth US$1.25tn (trillion).

He previously led BlackRock’s fixed income portfolio management for Europe, managing systematic and indexed strategies across fixed income markets.

The AMC plans to launch a range of actively and passively managed funds in the coming months, with a focus on data-driven investing and seamless user experience via digital channels.

India’s mutual fund industry has seen rapid growth in recent years, driven by increasing financial literacy, higher disposable incomes, and the rise of digital investment platforms. With more than 150mn (million) folios and Rs50 lakh crore in AUM as of early 2025, the sector presents a ripe opportunity for new entrants with innovative approaches.