Jio BlackRock Asset Management announced on Monday that it is launching regular plans for eligible mutual fund schemes, allowing investors to buy them through registered distributors, unlike its existing direct plans.
The joint venture between Reliance Industries’ Jio Financial Services and BlackRock has so far offered only direct plans since its launch. Regular plans on the other hand are sold through mutual fund distributors, giving investors greater choice in how they engage with and access Jio BlackRock’s investment offerings, the company said.
Jio BlackRock’s regular plans will be available across eligible mutual fund schemes from August 17 onwards, in accordance with applicable regulatory requirements. Investors will be able to access these plans through empanelled mutual fund distributors.
Jio BlackRock AMC’s ambition is to help investors participate in the growth opportunities offered by financial markets through simple, accessible and investor-centric solutions, said the joint venture’s MD and CEO Sid Swaminathan. He added that the strong interest the company has seen in its recently launched Prism Hybrid Long-Short Fund under the SIF platform reflects growing investor appetite for differentiated investment solutions.
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“As we continue to expand our offering, we are strengthening our partnerships with distributors, complementing our existing channels and helping more investors access our solutions. The introduction of Regular Plans is an important step in broadening access to our solutions, giving investors greater choice in how they invest while enabling us to partner more closely with India’s vibrant distribution ecosystem,” Swaminathan further said.
India’s mutual fund industry is now entering a new phase of growth, driven by increasing investor awareness, rising participation and deeper penetration across cities and towns, said Rajiv Chhabria, Chief Business Officer at JioBlackRock Asset Management. “Distributors remain at the centre of this evolution, helping bring investing to new audiences across the country. Through the introduction of Regular Plans, we look forward to building meaningful and long-term partnerships with distributors , while making our investment solutions accessible to a broader set of investors,” he added.
The introduction of regular plans represents another important step in JioBlackRock Asset Management’s growth journey and supports its broader vision of combining BlackRock’s global investment expertise and technology capabilities with Jio’s digital reach and customer focus to build one of India’s most accessible and investor-centric asset management businesses, the company said in a press release.
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(With inputs from agencies)
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