Mukesh Ambani will now blast in mutual funds, Jioblackrock received this 5 MF scheme from SEBI
Reliance Industries Chairman of Mukesh Ambani is now ready to create a panic in the mutual fund business. His company JioCroacrock Asset Management has received approval from the Securities and Exchange Board of India (SEBI) to start five mutual funds schemes. JioCroacrock is a 50:50 stake enterprise between asset management, Jio Financial Services and Blackrock. According to the information released by the Securities and Exchange Board of India on Wednesday, these five funds JioBaccrock Nifty 50 Index, JioCroacrock Nifty 8-13 Year G-Secent Index Fund, JioCroaccrock Nifty Smallcap 250 Index Fund, Jiockerrock Nifty Next 50 Index Funds and JioCroaccrock Nifty Midkap 150 There are index funds. Four of these five schemes are index funds linked to shares, while one is a bond-oriented fund.
Approval to start these 5 funds
- Jiobaccrock Nifty 50 Index Fund
- Jioquacock Nifty Midcap 150 Index Fund
- JioCroaccrock Nifty 8-13 Year G-Sek Index Fund (Bond based)
- Jioquacock Nifty Smallcap 250 Index Fund
- Jiobaccrock Nifty Next 50 Index Fund
NFO got strong response
The JioCroacrock Asset Management announced the closure of its first new fund offer (NFO) on July 7. A total of Rs 17,800 crore (US $ 2.1 billion) was raised in it. Blackrock specializes in global investment, while Jio has a digital-first innovation. The two together are committed to make investors simple, accessible and inclusive.
You can start investing from 500 rupees
In the 4 mutual fund schemes launched by Jiobaccrock, investors can start SIP from a minimum of Rs 500. They can increase this amount on their own free will. According to the information received, Jio Blackrock has sought approval from the market regulator (SEBI) to start 8 new funds. According to the report, JioWaccrock will introduce a mix of both passive and active funds in India. Active funds are currently in trend in India.
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