JioBlackRock NFOs for Liquid and Money Market Funds Open June 30 at ₹1,000 per Unit

Mumbai, June 26: JioBlackRock Mutual Fund, the joint venture between Reliance Industries’ Jio Financial Services and global asset manager BlackRock, is set to launch its inaugural schemes. The JioBlackRock Money Market Fund and the JioBlackRock Liquid Fund will both open for their New Fund Offers (NFOs) on June 30, 2025, and close on July 2, 2025. Both funds will be offered at a unit price of ₹1,000.

These launches mark JioBlackRock’s entry into India’s asset management space with a stated “tech-first, retail-focused strategy,” aiming to make investment solutions accessible to a wide range of Indian investors.

JioBlackRock Money Market Fund: Aiming for Regular Income

The JioBlackRock Liquid Fund is categorised under liquid debt schemes and will invest primarily in money market and debt instruments with residual maturities up to 91 days, offering high liquidity and low duration risk. It carries a risk-o-meter rating of “Low” and uses the Nifty Liquid Index A-I as its benchmark.

JioBlackRock Liquid Fund: Focus on Short-Term Liquidity and Low Risk

The JioBlackRock Liquid Fund is an open-ended liquid scheme targeting investors seeking short-term income with a focus on high liquidity, low interest rate, and credit risk. This fund will primarily invest in money market and debt instruments with residual maturities of up to 91 days.

• Investment Objective: To generate regular income through investments in ultra-short-term instruments, emphasising high liquidity and low duration risk.
• Benchmark: Nifty Liquid Index A-I.
• Risk Classification: Low (Risk-o-Meter rating of “Low”).
• Minimum Application Amount (NFO): ₹500 and in multiples of Re. 1.
• Exit Load: A tiered exit load applies for very short durations (e.g., 0.0070% for Day 1, gradually reducing to 0.0045% for Day 6), becoming Nil from Day 7 onwards.
• Asset Allocation: 0%–100% of assets in debt and money market instruments maturing within 91 days. It will maintain at least 20% of its assets in liquid form (Government Securities, T-Bills, Cash, etc.).

These allocations align with SEBI’s Master Circular for Mutual Funds dated June 27, 2024, ensuring full regulatory compliance.

Common Features and Regulatory Compliance

Both schemes share several common features and adhere to the latest regulatory frameworks:

• NFO Price: ₹1,000 per unit for both funds.
• Plans/Options: Only Direct Plan – Growth Option will be offered for both schemes.
• Facilities for Investors: Both funds will offer SIP (Systematic Investment Plan), STP (Systematic Transfer Plan), and SWP (Systematic Withdrawal Plan) facilities with weekly, monthly, and quarterly frequencies. A SIP top-up facility (minimum ₹50 or 10% increase) and SIP pause (1–6 months) are also available. Online and physical transactions are supported, with the ASBA (Applications Supported by Blocked Amount) option available for demat investors during the NFO.
• Fund Management: Both schemes will be co-managed by experienced fixed-income professionals: Vikrant Mehta (18+ years of experience), Arun Ramachandran (ex-SBI Funds Management), and Siddharth Deb (ex-Nippon Life, ex-Goldman Sachs).
• Regulatory Compliance: The schemes comply with all SEBI Mutual Fund regulations, including risk disclosures, instrument ceilings, and liquidity safeguards. Provisions for Swing Pricing and Segregated Portfolios are enabled, aligning with the SEBI Master Circular dated June 27, 2024.
• CDMDF Exposure: Both funds are mandated to have an exposure of 0.25% of their net assets in Corporate Debt Market Development Fund (CDMDF) units. The CDMDF is a SEBI-regulated fund established to provide a backstop facility and liquidity support to the corporate debt market, particularly for debt-oriented mutual funds during periods of market stress.
• Taxation: As debt-oriented schemes, income from these funds for units purchased on or after April 1, 2023, will be taxed under the new regime applicable from FY26. All gains, regardless of the holding period, will be treated as short-term capital gains and taxed as per the investor’s income tax slab rates, with no indexation benefit on capital gains.

The fund has a minimum mobilisation target of ₹20 crore. If the target is not achieved during the NFO, full refunds will be issued within five business days.

Next Steps

With the NFOs opening on June 30, investor interest will be key in gauging the market response to JioBlackRock’s debut. Strong mobilisation could set the tone for future fund launches from the AMC, especially given its tech-first, retail-driven approach. Attention will now turn to how effectively it positions itself in India’s competitive mutual fund landscape.

About JioBlackRock Mutual Fund

JioBlackRock Mutual Fund is a 50:50 joint venture between Reliance Industries’ Jio Financial Services and BlackRock, the world’s largest asset manager. The AMC, headquartered in Mumbai, received SEBI’s approval to commence operations as an investment manager for its mutual fund business in India around late May 2025. The partnership leverages Jio Financial Services’ extensive digital infrastructure and local market knowledge with BlackRock’s global investment expertise and technology, including its Aladdin investment platform, which is being deployed in India for the first time.

REF: https://portal.amfiindia.com/spages/14237.pdf

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