India’s mutual fund sector heats up: Jio-BlackRock venture cleared, Sanlam buys stake in Shriram AMC

Jio-BlackRock’s mutual fund venture cleared, joining Sanlam and Shriram in India’s booming MF sector. Jio Financial Services (JFSL) announced that its subsidiary has received approval from the Securities and Exchange Board of India (SEBI) to commence mutual fund operations under "Jio BlackRock Mutual Fund." This joint venture with US-based BlackRock is now set to enter India's rapidly expanding mutual fund sector. Simultaneously, South Africa's Sanlam has invested ₹105 crore in Shriram Asset Management Company (AMC), acquiring a 23% stake and becoming a co-promoter of Shriram AMC. These developments highlight the increasing interest and investment in India's asset management industry.