Zerodha AMC to Jio Financial Services: New Mutual Fund players that MF investors should know
mutual fund market in India is on the rise in the last five years. It is expected to thrive further with the addition of new players like Mukesh Ambani's Jio Financial Services, Nithin Kamath's Zerodha AMC, and Samir Arora's Helios Capital. Nithin Kamath's broking firm Zerodha has received final approval from the Securities and Exchange Board of India (Sebi) to set up an asset management company, its founder and CEO Nithin Kamath said on Friday.
"We just received the final approval for the @ZerodhaAMC we are building in partnership with @smallcaseHQ. Our motivation to start a mutual fund was twofold. The first was that the biggest challenge and opportunity for Indian markets is the shallow participation.
Even after all the growth over the last 3 years, we only have maybe 6-8 crore unique mutual fund and equity investors put together. The second was that if we had to bring in the next ten million investors, they needed simple products they could understand, and mutual funds were a perfect instrument. We aim to be index-only and create simple funds and ETFs that all investors can understand and invest in for all their goals." Kamath announced on the X platform, formerly known as Twitter.
Mukesh Ambani’s Jio Financial Services (JFSL) recently joined hands with one of the world’s largest asset managers, BlackRock. Jio Financial Services Limited (JFS) and BlackRock announced an agreement to form Jio BlackRock, a 50:50 joint venture that combines the respective strengths and trusted brands of BlackRock and JFS to deliver tech-enabled access to affordable, innovative investment solutions for millions of investors in India. However, exact details of what Jio BlackRock plans to do are still not available.
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