Latest news with #SidSwaminathan
Time of India
5 days ago
- Business
- Time of India
Jio Financial Services takes full control of Jio Payments Bank with Rs 104.5 crore SBI stake buy
Jio Financial Services on Wednesday acquired over 7.90 crore equity shares worth Rs 104.54 crore of Jio Payments Bank Limited (JPBL) from State Bank of India (SBI) following a Reserve Bank of India (RBI) nod on June 4, 2025. JPBL is now a wholly owned subsidiary of Jio Financial Services. In March, Jio Financial had announced its intentions to buy the 17.8% stake from SBI. Shares of Jio Financial Services today ended at Rs 287.75 on the NSE, declining by Rs 2.05 or 0.71% over the Tuesday closing price. The company has been in the news following a series of mutual fund scheme launches by Jio BlackRock Asset Management . The latter is a 50:50 joint venture between Jio Financial Services and BlackRock, and it received regulatory approval from the Securities and Exchange Board of India (Sebi) to commence operations as an investment manager for their mutual fund business in India. Live Events With a digital-first approach and global investment expertise, the firm aims to offer innovative, low-cost investment products, led by CEO Sid Swaminathan. JioBlackRock Asset Management is expected to bring an innovative investment proposition to the growing number of Indian retail mutual fund investors, as well as to institutional investors in India. The asset management company will seek to leverage the unique strengths of its two sponsors: JFSL's digital reach and its deep understanding of the local market, alongside BlackRock's global investment expertise and leading risk management technology. Jio Financial Services had reported a marginal 2% growth in its consolidated net profit at Rs 316 crore in the fourth quarter of FY25, compared with Rs 311 crore in the same quarter of the last year. Revenue from operations during the reporting period rose 18% year-on-year (YoY) to Rs 493 crore. The same stood at Rs 418 crore in the previous year period. Also Read: Jio BlackRock Mutual Fund launches 'Aladdin' investment management platform in India On a sequential basis, revenue from operations rose 13%, while the profit after tax jumped 7% quarter-on-quarter. Interest income during the fourth quarter fell marginally to Rs 276 crore in the January-March 2024 period, while the income from fees and commissions improved to Rs 39 crore.
Mint
10-06-2025
- Business
- Mint
Why Jio BlackRock has potential to disrupt the asset management industry
Legendary investor Warren Buffett has long argued that passive funds such as the S&P 500 ETF remain the best bet for the average investor. It seems investors in the US have heeded his advice, as passive funds now account for 59% of the total domestic and international equity investments of $23 trillion by US investors as of April, as per the Investment Company Institute, Washington. Back home in India, passive investing is yet to pick up in a big way. AMFI data shows total assets under management (AUM) of the industry at FY25-end were ₹66 trillion, and within this, the share of passive funds is just about 17%. However, the scenario is promising to become action-packed in the coming days. Jio BlackRock Asset Management has announced the appointment of its executive leadership team and the launch of its website on Monday. It had appointed Sid Swaminathan as its managing director and chief executive officer (CEO) last month. Swaminathan was earlier the head of Index equity funds at BlackRock. Given the CEO's expertise in index funds, it is likely that Jio BlackRock could target passive index funds initially. The existing asset management companies could feel the effect of disruption more in actively managed equity funds if industry AUM starts shifting from active equity funds to passive equity funds. Also Read | Q4 earnings: Jio set for steady growth on last tariff hike, subscriber additions Index funds well-liked How can Jio BlackRock take passive flows higher? First, let's understand why index funds are popular. Index funds are better as the job of stock picking is done by the exchanges with the best-performing stocks in terms of free-float market capitalization replacing the worst-performing stocks periodically. Also, their asset management charges, including salaries, are lower than actively managed funds as passive funds don't have to do in-depth research and just mimic the underlying index. Now, Jio BlackRock can go one step ahead of index funds. How? There are many ways but for now, let's consider the Nifty Pharma and Nifty Healthcare indices. They have constituents such as Lupin Ltd, Dr. Reddy's Laboratories Ltd, which are exposed to potential sudden actions from the US Food and Drug Administration (US FDA) leading to volatility in their stock prices. If an investor is bullish on the Indian pharma sector in general but wants to avoid the Nifty Pharma index and its constituents that suffer from frequent US FDA inspection-related deficiencies, there can be an index of only hospital and diagnostic stocks. An index fund/ETF based on such an index could attract investors. Now let's look at the Nifty Auto index, which includes two-wheeler stocks as well. If an investor feels that the growth rate of the passenger car industry would outperform the two-wheeler industry, then it is better to focus on stocks such as Maruti Suzuki India Ltd and Hyundai Motor India Ltd. Thus, an auto index can be constituted with only car companies, and an index fund/ETF tracking the passenger car industry's performance can be launched. Sure, the outlook for the Indian asset management industry appears bright in the foreseeable future. But, the entry of Jio BlackRock could create disruption because of its innovative products and vast distribution reach. Thus, investors have to watch how the valuations of leading listed asset management companies (AMCs) behave. Based on Motilal Oswal Financial Services' FY26 estimates, HDFC Asset Management Co. Ltd and Nippon Life India Asset Management Ltd shares are trading at a price-to-earnings multiple of 40x and 35x, respectively. As for Jio Financial, material business activity is set to begin with the leadership team announcement. Also Read: Blue Star faces the heat in Q1 from a milder summer season
New Indian Express
09-06-2025
- Business
- New Indian Express
Jio BlackRock AMC announces leadership team, unveils digital-first investing platform
MUMBAI: Jio BlackRock AMC, the mutual fund arm of Jio Financial from the Reliance Group, has appointed the key leadership team with COO and a slew of other key positions. The company has also invited interested parties to register their interest in the AMC's digital-first offering. Jio BlackRock Asset Management is an equal joint venture between Jio Financial and the NYSE-listed BlackRock. Sid Swaminathan was appointed as the managing director and chief executive of JioBlackRock AMC when the company got the Sebi approval. The other key appointments include Gaurav Nagori, the chief operating officer; Amit Bhosale, the chief risk officer; Amol Pai, the chief technology officer; Biraja Tripathy, head of products; Disha Bhandary, head of human resources; Hemanti Wadhwa, head of legal, compliance and secretarial, chief compliance officer and company secretary; and Komal Narang as the chief client officer, the company said in a statement Monday. On the digital-first offering, which gives a preview of the value proposition as well as educational content, Swaminathan said on signing up, individuals can access material on the fundamentals of investing and other functions that will allow them to invest once the offering is launched. The early access empowers individuals with the knowledge to make informed investment choices, a company statement said. Over the coming months, JioBlackRock AMC intends to launch a range of investment products, including those that apply BlackRock's industry leading capabilities in data-driven investing, he added. Responding to the developments, the shares of Jio Financial rose nearly 4%, while benchmarks rose for the fourth day, adding around 35 bps over the Friday closing.
Time of India
09-06-2025
- Business
- Time of India
Jio BlackRock MF provies early access to investors through digital investment platform
Mumbai: JioBlackRock Asset Management, the 50:50 joint venture between Jio Financial Services and BlackRock, has announced the appointment of its leadership team and launched a website offering early access to its digital-first investment platform. The company is preparing to enter India's asset management market after receiving regulatory approval on May 26 to begin mutual fund early access initiative allows prospective investors to preview the firm's value proposition and engage with educational content on the basics of investing. Registered users will also gain access to the investment platform once it is launched. The initiative aims to familiarise investors with the firm's digital-first model, focused on accessibility and ease of use. Managing Director and CEO Sid Swaminathan said, 'This is a milestone moment for JioBlackRock Asset Management. The leadership team is working hard on our value proposition of innovative products at competitive and transparent pricing.' He said the company would launch a range of offerings in the coming months, including those that apply BlackRock's data-driven investing capabilities. The leadership team brings together experience across asset management, digital strategy, and product design. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Đăng ký Undo According to the company, its approach will combine BlackRock's global investment expertise with Jio's digital reach to offer cost-efficient and accessible investment solutions. Swaminathan, who previously headed international index equity at BlackRock and oversaw $1.25 trillion in assets, was appointed CEO following regulatory clearance. He also led fixed income portfolio management for Europe, with a focus on systematic and indexed aims to serve a wide investor base by offering educational content and user-friendly tools, in line with the broader objective of expanding financial inclusion. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
India Gazette
09-06-2025
- Business
- India Gazette
JioBlackRock Asset Management launches exclusive early access initiative, introduces website and announces leadership team
(Maharashtra) [India], June 9 (ANI): Jio BlackRock Asset Management Private Limited (JioBlackRock Asset Management), a 50:50 joint venture between Jio Financial Services Limited and BlackRock, announced on Monday the appointment of its executive leadership team, the launch of its website, and an exclusive early access initiative. JioBlackRock Asset Management's leadership team brings together asset management experience, digital innovation and customer-centric product design. According to a company statement, the team is set to deliver JioBlackRock's mission to transform investing in India by making it more accessible and affordable for millions of people. Sid Swaminathan, Managing Director and CEO of JioBlackRock Asset Management, said: 'This is a milestone moment for JioBlackRock Asset Management. The leadership team is working hard on our value proposition of innovative products at competitive and transparent pricing.' 'Over the coming months, JioBlackRock Asset Management intends to launch a range of investment products, including those that apply BlackRock's industry-leading capabilities in data-driven investing,' Swaminathan added. JioBlackRock Asset Management also announced an early access initiative on its website. The initiative invites individuals to register their interest in JioBlackRock Asset Management's digital-first offering. Participants gain a preview of the company's value proposition and begin engaging with its educational content. Upon signing up, they can access materials covering the fundamentals of investing and further functionality that will allow them to invest once the offering is launched. The statement added that it empowers individuals with the knowledge to make informed investment choices. On May 26, 2025, Jio BlackRock Asset Management Private Limited received regulatory approval from the Securities and Exchange Board of India (SEBI) for its mutual fund business to commence operations. Sid Swaminathan was appointed as the Managing Director and Chief Executive Officer. With over 20 years of asset management experience, Sid was most recently Head of International Index Equity at BlackRock, where he was responsible for an AUM of USD 1.25 trillion. He previously led Fixed Income Portfolio Management for Europe, specialising in systematic and indexed strategies. (ANI)
