Latest news with #BlackRock
India.com
2 hours ago
- Business
- India.com
Mukesh Ambani gets permission to start business of..., Reliance share zooms to...
Reliance gets huge business of... starts venture with world's largest asset manager, its name is..., Mukesh Ambani's earnings to go up by... The joint venture of Reliance Industries and BlackRock has got the green signal to start business in India after Market regulator SEBI approved Jio BlackRock Broking Private Limited to start work as a brokerage firm in India. What is BlackRock? This company is a fully owned subsidiary of Jio BlackRock Investment Advisors. After this news, shares of Jio Financial Services rose by about 5 percent to Rs 329.30 on BSE. The company aims to provide Indian investors the facility to buy and sell shares with the help of technology at a low price. Jio Financial Services Limited and BlackRock Inc. have a 50:50 stake in its parent company JioBlackRock Investment Advisers. Jio BlackRock Asset Management Private Limited and Jio BlackRock Investment Advisors have already received approval from SEBI to start business. Now after getting the brokerage license, Jio BlackRock will be able to provide all the investment solutions to the people of India. What will be the benefit? Mark Pilgram, Managing Director and CEO, Jio BlackRock Investment Advisers Private said, 'We are thrilled to receive SEBI's final approval for JioBlackRock Broking. This will enable us to help transform India from a nation of savers to a nation of investors. With JioBlackRock Investment Advisers, we will be able to provide personalized advice to small investors. Now, along with brokerage, we will also bring a platform for self-investors where they can easily buy and sell shares.' Hitesh Sethia, Managing Director and CEO, Jio Financial Services, said, 'This is a very exciting time for us. Jio BlackRock's asset management division is bringing new mutual funds to the market, and JioBlackRock Investment Advisers is also going to start its operations soon. In such a situation, getting approval for the brokerage company further strengthens our strategy, under which we want to make investing easy in India, so that everyone can easily invest digitally. ' How will Mutual Fund Business get affected? Rachel Lord, International Head at BlackRock, said, 'Jio BlackRock was launched to bring technology-enabled access to capital markets for millions of investors in India, and give them access to new ways to invest at a lower cost. This third approval from SEBI will complete the full range of services of our joint venture. Through these three companies, JioBlackRock will provide a complete investment service, helping Indian investors achieve their financial goals.' Last month, JioBlackRock Asset Management received approval from SEBI to start its mutual fund business.
Economic Times
4 hours ago
- Business
- Economic Times
Jio BlackRock gets Sebi nod for broking business
BlackRock had exited India in 2018 by selling its stake in DSP BlackRock Mutual Fund. Jio BlackRock Investment Advisers secures Sebi's nod for its stock broking venture. This marks the third approval for the Jio-BlackRock joint venture. The company aims to offer affordable and transparent execution capabilities. Marc Pilgrem highlights the ability to provide personalized advice and a self-directed investment platform. Jio BlackRock Asset Management had previously gained approval for its mutual fund business. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Mumbai: Jio BlackRock Investment Advisers has received approval from the Securities and Exchange Board of India (Sebi) to launch a stock broking business in the country. The firm is a 50:50 joint venture between Mukesh Ambani's Jio Financial Services and US asset manager BlackRock Jio BlackRock Broking aims to bring "affordable, transparent, and technology-driven execution capabilities" for Indian investors, said a is the third regulatory clearance granted to the joint venture between Jio and BlackRock, following approvals for its asset management and investment advisory businesses. With the broking licence, the venture completes its plan to offer investment advisory, mutual fund, and execution services in India."With Jio BlackRock Investment Advisers, we will be able to offer personalised advice to retail investors," said Marc Pilgrem, managing director and CEO of Jio BlackRock Investment Advisers, in the release. "Now with brokerage, we will also bring an execution platform for self-directed investors."In May, Jio BlackRock Asset Management had received Sebi approval to start the mutual fund business in India. Sid Swaminathan, a BlackRock veteran, was appointed as its managing director and chief executive July 2023, Jio and BlackRock had announced an agreement to create Jio BlackRock, a 50:50 joint venture, marking the US-based asset manger's re-entry into the Indian market after it exited in 2018. BlackRock manages assets worth $11.58 trillion globally as of March had exited India in 2018 by selling its stake in DSP BlackRock Mutual Fund.
Time of India
4 hours ago
- Business
- Time of India
Jio BlackRock gets Sebi nod for broking business
Mumbai: Jio BlackRock Investment Advisers has received approval from the Securities and Exchange Board of India (Sebi) to launch a stock broking business in the country. The firm is a 50:50 joint venture between Mukesh Ambani's Jio Financial Services and US asset manager BlackRock. Jio BlackRock Broking aims to bring "affordable, transparent, and technology-driven execution capabilities" for Indian investors, said a release. This is the third regulatory clearance granted to the joint venture between Jio and BlackRock, following approvals for its asset management and investment advisory businesses. With the broking licence, the venture completes its plan to offer investment advisory, mutual fund, and execution services in India. "With Jio BlackRock Investment Advisers, we will be able to offer personalised advice to retail investors," said Marc Pilgrem, managing director and CEO of Jio BlackRock Investment Advisers, in the release. "Now with brokerage, we will also bring an execution platform for self-directed investors." In May, Jio BlackRock Asset Management had received Sebi approval to start the mutual fund business in India. Sid Swaminathan, a BlackRock veteran, was appointed as its managing director and chief executive officer. Live Events In July 2023, Jio and BlackRock had announced an agreement to create Jio BlackRock, a 50:50 joint venture, marking the US-based asset manger's re-entry into the Indian market after it exited in 2018. BlackRock manages assets worth $11.58 trillion globally as of March 31. BlackRock had exited India in 2018 by selling its stake in DSP BlackRock Mutual Fund.
Yahoo
6 hours ago
- Business
- Yahoo
BlackRock Launches New Global Government Bond Hedged ETF
BlackRock launched a new exchange-traded fund Thursday designed to offer investors exposure to a globally diversified portfolio of government bonds. The iShares Global Government Bond USD Hedged Active ETF (GGOV) uses a currency hedge on the non-U.S. bonds that seeks to raise the yield on those exposures when the U.S. policy rates are elevated relative to their global counterparts, according to a press release. GGOV is managed by the BlackRock Tactical Asset Allocation team, and its benchmark index is the Bloomberg Global Treasury USD Hedged Index. The expense ratio is 0.39%. USD-hedged global government bonds have historically produced higher yields with lower volatility versus comparable U.S.-only bond indices, Tom Becker, lead portfolio manager of GGOV, said via the press release. BlackRock determined that this type of diversified global fixed-income exposure—particularly with a foreign exchange (FX) hedge where there is pure exposure to a diversified set of sovereign issuers across the world—would be an attractive access point for a lot of investors who have a large home bias, Becker told The firm saw that it could 'combine what would be a differentiated benchmark and starting point with a strong experience of delivering alpha for clients,' he said. There's also much more concern now about the size of the government deficits and inflation, Becker added. GGOV may help investors limit some of the risk they'd see with a portfolio of only U.S.-focused fixed-income investments. BlackRock's iShares global fixed-income ETF business hit the $1 trillion mark in September 2024 as the Federal Reserve's earlier rate hikes had investors turning to bonds. GGOV is joining BlackRock's $52 billion-plus U.S. active ETF platform. The world's largest asset manager is expecting the fixed-income ETFs overall to reach $6 trillion in assets under management by 2030, if not sooner, according to its annual outlook published in | © Copyright 2025 All rights reserved
Yahoo
9 hours ago
- Business
- Yahoo
Takeaways from Day One at the Morningstar Investment Conference
You can find original article here Wealthmanagement. Subscribe to our free daily Wealthmanagement newsletter. The first day of the annual Morningstar Investment Conference in Chicago this week showcased executives from two of the largest asset managers in the nation, providing insights into where the firms see opportunities for growing their business. The day opened with comments from Rick Rieder, managing director, CIO of Global Fixed Income, BlackRock, who sketched out the firm's convictions on the macroeconomy. Rieder conveyed his belief that, long term, robotics and AI would bring about revolutionary changes. In the near term, he predicted the U.S. would land at effective tariff rates at around 15%, which would lead to a burst of short-term inflation that would then level off, in part after the Fed undertakes a series of rate cuts later this year and next year. He also predicted that the U.S. economy, because of its heavy reliance on services rather than manufacturing, would prove resilient to tariff effects and continue to post nominal growth. 'You don't have to take a lot of credit risk,' Rieder said. 'You can be in fixed income at the front end of the curve and throw out a 6% return. It's a golden age not because you can make a lot of money based on interest rates, but because you can compound income above the rate of inflation. You don't have to go down into emerging markets. You can go down the middle and get a lot of yield.' Later in the day, Vanguard CEO Salin Ramji discussed how the firm, famous for its low fees on investment products—what Morningstar has dubbed the 'Vanguard effect'—is looking to provide similar value to investors on savings accounts and financial advice. 'People today get less than 0.5% from banks on savings,' Ramji said. 'We are paying 3.65%. Before someone becomes an investor, they start as a saver, and we want to offer a fair deal on that.' On advice, Vanguard charges 15 basis points for digital advice and 30 basis points for advice with a person. 'There are fewer advisors out there while there's a greater need for advice,' he said. 'Barring a better solution, advice will become the preserve of the wealthy. We want to be able to provide advice to everyday investors.' He pointed to the fact that the average Vanguard investor invests $200,000, but the median was $60,000—those who are traditionally not served by financial advisors. 'When you think about the 'Vanguard effect,' part of what we have been doing is to lower fees and part of it is to introduce more price competition in the industry, which lowers fees for all investors,' he said. 'We are proud of both of those things and want to apply that to different vehicles.' Ramji also provided an update on the firm's partnership with Blackstone and Wellington Management Co. to launch a fund that will invest in public equities, bonds and private markets. 'We're in early days, but we're motivated because we think that private markets done well for the right clients at the right price can be additive to portfolios,' he said. 'But we are also patient and understand that these things take time. We are learning, experimenting and partnering to see how to do it the right way to serve clients well.'
