Jio BlackRock Gets SEBI Nod for 4 Passive Funds, Eyes ₹72 Trillion Market

Jio BlackRock Mutual Fund, a 50:50 venture between Reliance’s Jio Financial Services and global asset manager BlackRock, has received approval from the Securities and Exchange Board of India (SEBI) to launch four passive index funds. This milestone marks the firm's preparation to expand its presence in India’s rapidly growing mutual fund industry.

SEBI Clears Four New Index Funds from Jio BlackRock

The approved schemes include three equity index funds—tracking the Nifty Midcap 150, Nifty Next 50, and Nifty Smallcap 250—and one debt index fund aligned with the Nifty 8–13‑year G‑Sec Index. The equity funds offer broad exposure to mid-, large-cap, and small-cap segments, catering to a range of investor risk profiles. The debt fund focuses on medium- to long-term government securities, providing a lower-risk option.

Invest in Indian Markets and Unlock Future Potential With 5paisa!

Open Account Now

Jio BlackRock’s Strategic Vision and Market Entry

This development builds on Jio BlackRock's prior debut, having raised ₹17,800 crore through three cash and debt schemes launched shortly after its registration in May. Additionally, the joint venture has recently received SEBI approval to operate as an investment adviser, solidifying its emerging footprint in India’s financial market.

Established in July 2023, the Jio BlackRock partnership received in-principle approval in October 2024 and complete registration in May 2025. Sid Swaminathan, a former BlackRock executive, now serves as MD & CEO for Jio BlackRock Asset Management.

Analysts view this move as a significant push into India’s ₹72 trillion funds market. The firm plans to offer both active and passive products, with small-ticket SIPs starting from ₹500. Its direct-to-investor, digital-first distribution model, powered by Jio’s telecom user base, aims to disrupt traditional distribution channels and reduce costs.

Utilising BlackRock's Aladdin platform, the JV aims to bring global investment platforms and risk analytics to Indian investors. With passive funds capturing close to ₹12 trillion and growing at a 25% year-on-year rate, the new funds arrive at a time when investors are increasingly favouring low-cost index strategies.

Industry insiders expect the passive funds to launch later this year, as SEBI approval paves the way for more than a dozen new equity and debt offerings planned by year-end.

Conclusion

The SEBI nod to Jio BlackRock for four passive index funds marks a significant move in India’s mutual fund space. Leveraging Jio's digital reach and BlackRock's global investment infrastructure, the partnership is well-positioned to expand access to passive and digital-first mutual funds. Investors can anticipate innovative, low-cost, and easily accessible offerings later this year—an encouraging sign for those seeking efficient and diversified investment options.