Jio BlackRock gets SEBI approval to launch four passive funds; Details here

Jio BlackRock, a 50:50 Joint Venture between Jio Financial Services and BlackRock, has received approval from market regulator Securities and Exchange Board of India (SEBI) to launch four passive funds.

The four funds that Jio BlackRock will be launching, include:

Here's a look at these four funds individually:

JioBlackRock Nifty 8-13 yr G-Sec Index Fund

The JioBlackRock Nifty 8-13 yr G-Sec Index Fund will be an open-ended scheme replicating / tracking the Nifty 8-13 yr G-Sec Index. A relatively high interest rate risk and relatively low credit risk.

The scheme will offer only a direct plan, and will only offer a growth option. Exit load for this will be nil.

JioBlackRock Nifty Smallcap 250 Index Fund

This will be an open-ended scheme, which will replicate / track the Nifty Smallcap 250 index. The risk factor of this scheme has been termed as "very high".

The Minimum Application Amount during the New Fund Offer (NFO) will be ₹500 and any amount thereafter, and this will remain the same for applying on a continuous basis as well.

This scheme will also offer a direct plan.

JioBlackRock Nifty Next 50 Index Fund

The JioBlackRock Nifty Next 50 Index Fund will be an open-ended scheme which will replicate and track the Nifty Next 50 index.

Risk factor of this scheme is pegged as "very high". Exit load will be Nil.

Minimum Application amount during the NFO will be ₹500 and any amount thereafter, while for an SIP, the minimum amount remains the same and then in multiples of ₹1 thereafter.

Shares of Jio Financial Services are currently trading 0.5% lower at ₹319.5. The newest Nifty entrant has gained 8.7% in the last one month.

This is a developing story.