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Jio BlackRock and Abira Securities have applied to SEBI for MF license, shows the status of mutual fund applications released in December 2023 by SEBI.
The joint venture of Mukesh Ambani led Jio Financial Services and world’s largest asset manager BlackRock Financial Management - Jio BlackRock applied for the MF license in Oct 2023.
In July, Jio and BlackRock announced their joint venture and expressed interest in MF business. The company said that they will focus on offering affordable and innovative investment solutions to investors through technology.
On the other hand, Abira Securities is a Kolkata-based stock broking house. It applied for MF license on Dec 14, 2023.
In another development, Angel One has received in-principal approval and is awaiting SEBI’s final go ahead. The company sources told Cafemutual that they will focus only on passive products.
