Can Jio Financial Disrupt the Mutual Fund Business?
Mukesh Ambani’s newly demerged entity Jio Financial Services, about which hardly anything is known, is widely expected to disrupt the $540bn (billion) Indian mutual fund (MF) business. It has formed a 50:50 joint venture entity with giant US fund house BlackRock to “transform India’s asset management industry” and “democratise access” to options for Indians by delivering “affordable and innovative investment solutions”. Analysts and commentators are excited by how Jio will exploit the huge footprint of Reliance Retail's 18,500 stores and Reliance...