Jio Financial and BlackRock incorporate AMCs to undertake mutual funds biz

Jio Financial Services and BlackRock Inc. have launched two joint venture firms in India, named Jio BlackRock Asset Management Private Limited and Jio BlackRock Trustee Private Limited, aiming to enter the mutual fund industry. Jio Financial has invested Rs 82.9 crore for a 50 per cent stake in both companies, pending regulatory approvals.
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