Jio BlackRock Makes Mutual Fund Debut With 3 New Debt Schemes

The Jio BlackRock Liquid Fund, Jio BlackRock Money Market Fund, and Jio BlackRock Overnight Fund are the three open-ended debt schemes that Jio BlackRock Mutual Fund has introduced as part of its first mutual fund offerings. All three funds’ New Fund Offers (NFOs) go live on Monday, June 30 and run through July 2.

Liquid Fund targets short-term investors

The JioBlackRock Liquid Fund is designed for investors with a short investment horizon who want consistent income. The scheme information document states that the fund would make investments in debt and money market securities having a maximum residual term of 91 days.

A minimum investment of ₹500 is required. The plan has a graded exit load, which decreases to zero on Day 7 after beginning at 0.0070% on Day 1.

Up to one-year maturity is the focus of money market funds

The JioBlackRock Money Market Fund invests in money-market instruments with a residual maturity of up to one year in an effort to produce consistent income. It also has no exit load and a ₹500 minimum investment requirement.

Within the low-risk range, the scheme is positioned as a reliable choice for investors wishing to park their money for a little longer periods of time.

The Overnight Fund provides daily maturity exposure

The JioBlackRock Overnight Fund aims to generate income by investing in debt and money market instruments that have overnight maturity. Similar to the other two offerings, the minimum subscription is set at ₹500, and there is no exit load associated with the scheme. This fund is ideal for investors who wish to park their funds for a day or longer while facing minimal interest rate risk.

These launches signify the official entry of JioBlackRock Asset Management, a 50:50 joint venture between Jio Financial Services and BlackRock, into the mutual fund market in India. Earlier this month, the company launched its website and opened early access registration for investors, offering educational materials and previews of its digital-first platform.

Investors can subscribe to the schemes through the fund’s platform or through participating distributors during the NFO period.