JioBlackRock Mutual Fund has filed two draft documents with Sebi this week to launch the JioBlackRock Corporate Bond Fund and the JioBlackRock Nifty 50 ETF.
JioBlackRock Corporate Bond Fund
The JioBlackRock Corporate Bond Fund will be an open-ended debt scheme that will predominantly invest in AA+ and above-rated corporate bonds, carrying relatively high interest rate risk and moderate credit risk.
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The scheme will offer only a direct plan with a growth option. The minimum investment amount will be Rs 500 for both lump sum and SIP investments, with additional investments allowed in multiples of Re 1.
The fund will be benchmarked against the NIFTY Corporate Bond Index A-II and managed by Arun Ramachandran, Vikrant Mehta and Siddharth Deb. It will invest 80-100% of its corpus in corporate debt, 0-20% in debt and money market instruments other than corporate debt, and 0-10% in units of InvITs.
The scheme is suitable for investors seeking regular income over a short- to medium-term investment horizon through investments predominantly in AA+ and above-rated corporate debt. According to the scheme's riskometer, the principal invested will be subject to moderate risk.
JioBlackRock Nifty 50 ETF
The JioBlackRock Nifty 50 ETF will be an open-ended exchange-traded fund that aims to replicate the Nifty 50 Index, subject to tracking error. Its investment objective is to passively invest in equity and equity-related securities mirroring the index composition.
The fund will be benchmarked against the Nifty 50 TRI and managed by Tanvi Kacheria, Anand Shah and Haresh Mehta.
The minimum lump sum investment will be Rs 500, with additional investments allowed in multiples of Re 1. Units will be allotted only in whole numbers, while the value of any fractional units will be refunded.
The scheme will invest 95-100% of its corpus in equity and equity-related securities comprising the Nifty 50 Index, with the remaining 0-5% allocated to debt and money market instruments, including units of mutual funds.
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According to the scheme's riskometer, the principal invested in the fund will be subject to very high risk.
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