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Jio BlackRock Asset Management, which launched its services in May, has built an investor base of 10 lakh, with nearly 18 per cent comprising first-time mutual fund investors, its MD and CEO Sid Swaminathan said on Tuesday. The joint venture between Jio Financial Services and BlackRock has also seen strong participation from investors beyond major metros, with 40 per cent of its retail investors coming from B-30 cities, significantly higher than the industry average of 28 per cent. B-30 cities in India refer to cities beyond the top 30. Speaking to reporters here, Swaminathan attributed this deeper market penetration to its technology-led approach and sustained focus on investor education. Jio BlackRock AMC manages assets worth over Rs 13,700 crore, with equities accounting for around 30 per cent of the total assets under management, while the remaining 70 per cent is invested in fixed income and cash. Looking ahead, the company plans to focus on key strategic initiatives, includi
Jio BlackRock Broking Pvt Ltd, a wholly owned subsidiary of Jio BlackRock Investment Advisers Pvt Ltd, has received regulatory approval from the Securities and Exchange Board of India (Sebi) to commence operations as a brokerage firm. JioBlackRock Broking aims to bring affordable, transparent, and technology-driven execution capabilities for investors, the company said in a statement. The broking entity's parent company, JioBlackRock Investment Advisers, is a 50:50 joint venture between Jio Financial Services Ltd (JFSL) and BlackRock Inc of the US. Along with the recent regulatory approvals received by Jio BlackRock Asset Management Pvt Ltd and Jio BlackRock Investment Advisers to commence operations, the receipt of the broking license enables the Jio BlackRock joint venture to offer holistic investment solutions. "With JioBlackRock Investment Advisers, we will be able to offer personalised advice to retail investors. Now with brokerage, we will also bring an execution platform for