Jio MF arm adopts aggressive pricing in first active scheme

Mumbai: Jio Financial Services’ mutual fund arm has launched its first active scheme, the Jioblackrock Flexi Cap Fund, with an aggressive pricing strategy.

The scheme has a total expense ratio (TER) of 0.50%, among the lowest in its category, and no exit load for now. Jioblackrock Asset Management, a joint venture between Reliance Industries and global asset manager BlackRock, aims to disrupt India’s crowded MF space of over 40 players.

Managing Director and CEO Sid Swaminathan said the AMC plans to continue with low-cost strategies, leveraging technology and direct distribution to pass on benefits to investors. “If we can scale and manufacture funds more cost-effectively, we want to share those savings with customers,” he noted.

The fund will also draw on BlackRock’s four-decade-old Systematic Active Equities platform, which combines big data, analytics, and human expertise.

Benchmarking against the NSE-500 index, the scheme will primarily invest in large-cap stocks. The new fund offer closes on

October 7.