Jio-BlackRock enters India's ETF market with Nifty 50 fund
The ETF will track the Nifty 50 Index, giving investors an exposure to India’s 50 largest listed companies through a single investment
Jio Financial Services and BlackRock have launched the JioBlackRock Nifty 50 ETF, their first venture into India's exchange-traded fund market. This fund will track the Nifty 50 Index, providing investors with exposure to the country's 50 largest listed companies. The joint venture plans to launch their initial ETF in India by August, as reported by Reuters in June.
As of June 30, Jio BlackRock Asset Management has managed approximately ₹18,000 crore ($1.89 billion) in assets. BlackRock oversees $5.5 trillion in ETF assets globally, accounting for more than a third of its overall assets under management. The fund will be accessible through JioBlackRock's website, as well as the JioFinance and MyJio applications.
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