Rama Krishna Sangem
Financial and market experts are calling JioBlackRock Mutual Fund as a gamechanger for its overwhelming response from public as well as low cost operations.
JioBlackRock Mutual Fund on July 7, Monday announced the successful closure of its maiden New Fund Offer (NFO), receiving a total investment of Rs 17,800 crore (USD 2.1 billion) across three cash/debt mutual fund schemes – JioBlackRock Overnight Fund, JioBlackRock Liquid Fund, and JioBlackRock Money Market Fund.
The three-day NFO, which was launched on June 30 and closed on July 2, attracted investments from over 90 institutional investors, reflecting confidence in JioBlackRock Asset Management’s value proposition that combines data-driven investing and a digital-first approach, according to a press release.
The cash/debt mutual fund schemes also recorded an overwhelming response from retail investors, with over 67,000 individuals investing in these funds during the offer period, the release added. Fom institutions to individuals, JioBlackRock Asset Management’s mutual fund schemes attract an overwhelming response, the release said.
Overwhelming response
The overwhelming response to our first NFO from institutional and retail investors is a powerful endorsement of JioBlackRock Asset Management’s innovative investment philosophy, risk management capabilities and digital-first approach. This is a strong start to our journey towards becoming a transformative force in India’s evolving investment landscape, catering to all types of investors,” said Sid Swaminathan, Managing Director and CEO, JioBlackRock Asset Management.
These first funds offered by JioBlackRock Asset Management provide a broad range of investors’ choice to manage different elements of cash and short-term allocations, and put cash to work for meeting differing liquidity, risk and return objectives.
