Shares of Jio Financial Services Ltd are trading flat after touching a day’s high of Rs 338.60 on 5th August. This follows the announcement that JioBlackRock Mutual Fund, the 50:50 joint venture between Jio Financial Services and BlackRock, has launched its first set of five index funds. Investors are closely watching BlackRock’s re-entry into the Indian asset management space. Its focus is on the country’s underpenetrated passive investing segment.

The New Fund Offering (NFO), open from 5th to 12th August, features five schemes. They are based on the Nifty 50, Nifty Next 50, Nifty Midcap 150, Nifty Smallcap 250, and a G-Sec index.

Jio Financial Services has a market capitalisation of Rs 2.12 lakh crore and a PE ratio of 400.18.

BlackRock exited India’s mutual fund market in 2018 after parting ways with DSP Group. It has returned through this equal JV with Reliance’s financial arm. The move reflects a renewed push into a market where passive products form only 20% of the mutual fund industry. In contrast, the figure is nearly 50% in the US and Europe.

Hitesh Sethia, President and CEO of JFS, described it as an exciting partnership. It combines BlackRock’s global investment expertise with JFS’s technology and market reach. Together, they offer digital-first, customer-centric solutions aimed at democratising financial investments in India.

At 1:23 PM, the shares of Jio Financial Services were trading 0.66% lower at Rs 331.70 on NSE.

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