00:00 Recently, the owner of Reliance Industries Mukesh Ambani demerged his financial service company Jio Financial Services Ltd.
00:07 Mukesh Ambani has taken another big step with the company and has established it as the world's largest asset management company.
00:14 Both companies will jointly establish joint ventures.
00:17 Which company is it and what are the details, let's tell you in this video.
00:22 Reliance Group's financial service company Jio Financial Services Ltd and BlackRock have announced a 50-50 joint venture, JV.
00:32 The announcement said that both companies will invest $15.15 crore, i.e. Rs. 1230-1230 crore.
00:40 With this, the company will return to India again.
00:44 BlackRock is an American multinational investment company based in New York City.
00:48 After leaving India in 2018, America's largest asset management company BlackRock is entering India again.
00:56 In 2018, this company made a distance from India, but after 5 years it is returning again.
01:03 This year, its support has become Reliance.
01:05 Both have agreed to establish a joint venture.
01:08 BlackRock holds the property of Rs. 11 trillion.
01:11 With this joint venture, the country's millionaires will get the convenience of tech-enabled affordable investment solutions.
01:18 Jio will benefit from the investment management, risk management, product, operations, and scale-related expertise of the great asset management firm BlackRock.
01:27 At the same time, BlackRock will benefit from the reach, knowledge, and digital infrastructure of Jio's domestic market.
01:34 The benefit of this partnership will be easily understood by people in the asset management industry.
01:39 Currently, both companies are investing $15.15 crore.
01:43 America's multinational investment company BlackRock Inc. is the world's largest asset manager.
01:48 In June, its asset under management was $9.43 trillion.
01:54 In comparison to last year, it has increased by 11%, while compared to last year, it has increased by 4%.
02:01 This is about three times the GDP of India and half the GDP of America.
02:05 You can guess the status of BlackRock by the fact that 10% of the world's shares and bonds are managed by this company.
02:14 It is the world's largest shadow bank.
02:17 It is a part of every major company in the world.
02:20 The world's most valuable company is BlackRock Inc.
02:26 Similarly, it has a 7.25% stake in Verizon and Ford, 6.5% stake in Facebook, 7% stake in Wales Fargo, 6.5% stake in JP Morgan, and 4.8% stake in Deutsche Bank.
02:40 BlackRock Inc. has a 4.48% stake in Google's parent company Alphabet Inc.
02:46 It has a stakeholding in many major companies in India.
02:50 You can guess how powerful BlackRock is.
02:53 It was founded by Larry Fink in 1988.
02:56 In 2008, when big companies were about to go down due to the financial crisis, the US government took support of BlackRock.
03:05 However, it is said that BlackRock was the root of this crisis.
03:09 Fink was the one who raised America from this crisis.
03:12 After that, in 2020, when the bond market was badly shaken due to the corona epidemic, BlackRock took over the situation again.
03:20 Jio Financial and BlackRock's JV is named Jio BlackRock.
03:24 Both companies have said in a statement that Jio BlackRock JV will enter the asset management business in the country.
03:31 Through this partnership, India's asset management industry is being intended to bring about great changes.
03:37 Jio Financial has shown interest in other financial sectors such as loan business, insurance payment, digital broking, and asset management.
03:45 It will be known when the time comes whether the world's largest asset management company's reliance on India will prove to be a good step or not.
03:53 What do you have to say about this report?
03:54 Do tell us by commenting.
03:56 If you are watching this video on Facebook, then like the Facebook page.
03:59 If you are watching us on YouTube, then do not forget to subscribe to the YouTube channel of Goodreturns.
Comments