Mumbai: Jio BlackRock has launched three low-risk debt schemes after it received SEBI’s nod to commence mutual fund operations in May. These schemes include the Jio BlackRock Liquid Fund, Jio BlackRock Overnight Fund and Jio BlackRock Money Market Fund.
Targeted at conservative, first-time investors, these funds come with a minimum ticket size of Rs. 500. The Net Asset Values (NAV) of these funds will be declared daily, with an almost negligible exit load, a unique proposition that other Mutual Funds may find hard to beat.
Jio BlackRock Liquid Fund
Aiming to invest in short-term instruments, this mutual fund seeks to offer returns that exceed those of traditional savings accounts. Benchmarked against the Nifty Liquid Index A-I, the fund will be managed by Vikrant Mehta, Siddharth Deb and Arun Ramachandran.
Jio BlackRock Overnight Fund
Aiming to invest in debt and money market instruments with a maturity of one day, this offers liquidity with almost zero volatility. This fund will be benchmarked against the NIFTY 1D Rate Index and managed by Arun Ramachandran.
Jio BlackRock Money Market Fund
This is designed for a slightly longer duration with up to one year maturity. It aims to generate regular income by investing in money market instruments. Benchmarked to the NIFTY Money Market Index A-I, this one will also be managed by Arun Ramachandran.
With this, the Mukesh Ambani-led company aims to offer an industry-first offering with low-cost mutual fund offerings, backed by Jio’s vast reach across its media empire. It has to prove sceptics wrong, especially as Mukesh Ambani aims to disrupt other markets through its brute reach and financial muscle.
