MUMBAI: The mutual fund space is seeing two new entrants. While Reliance Jio-BlackRock’s joint venture received Sebi approval to launch an asset management company (AMC), South Africa-based Sanlam joined Shriram Asset Management as a co-promoter with a strategic investment.Jio Financial Services and US-based BlackRock’s 50:50 JV-Jio BlackRock Asset Management-was cleared by Sebi to operate as an investment manager for mutual funds. The new AMC will combine Jio’s digital reach and local market understanding with BlackRock’s global investment expertise and proprietary risk management platform, Aladdin.Meanwhile, Shriram AMC, India’s first listed asset manager, inducted Sanlam, South Africa’s largest asset manager, as a co-promoter. This move strengthens a 20-year partnership between Shriram Group and Sanlam, which spans life and general insurance.
