Mumbai, May 27 -- Jio BlackRock Asset Management, a 50:50 joint venture between Jio Financial Services and BlackRock, has received regulatory approval from the financial markets regulator SEBI to commence operations as an investment manager for their mutual fund business in India, a statement said Tuesday.

JioBlackRock Asset Management will bring an innovative investment proposition to the growing number of Indian retail mutual fund investors, as well as to institutional investors in India, the joint statement said.

The asset management company will seek to leverage the unique strengths of its two sponsors: JFSL's digital reach and its deep understanding of the local market, alongside BlackRock's global investment expertise and leading ...