$BlackRock(BLK)$ $Grayscale Bitcoin Mini Trust(BTC)$ $iShares Bitcoin Trust(IBIT)$
🔺🅱️U⃣L⃣L⃣I⃣S⃣H⃣🔺
😳😱 BlackRock now has more than $10 Trillion of Assets Under Management up from ~$4T a decade ago!
Wow, that’s some serious growth! BlackRock just keeps getting bigger. $10 trillion is wild!
BLK is a powerhouse! BlackRock's AUM growth highlights dominance and strong investment demand.
BLK holds $BTC $IBIT, this will be $100T in the coming years.
BlackRock is one of the most mentioned companies in the U.S. across all news items in the past 12 hours, according to Factiva data. Goldman Sachs raised its price target on BlackRock stock to $1,040 per share from $960, as reported by Benzinga. Earlier this week, BlackRock completed its acquisition of Global Infrastructure Partners. Dow Jones & Co. owns Factiva.
Source: Mint
Jio Financial Services Ltd, the spun-off financial services entity of Mukesh Ambani-led Reliance Industries Ltd, has secured an in-principle approval from the Securities and Exchange Board of India (SEBI) to establish a mutual fund business in partnership with BlackRock Financial Management. BlackRock, the world’s largest asset manager, oversees over $10 trillion in assets.
Please note that SEBI vide letter dated October 3, 2024 has granted in-principle approval to the Company and BlackRock Financial Management Inc to act as co-sponsors and set up the proposed mutual fund. The final registration approval will be granted by SEBI subject to fulfilment by the Company and BlackRock of the requirements set out in the said letter," said Jio Financial Services in a regulatory filing to the stock exchanges.
Days after its demerger from Reliance Industries in July 2023, Jio Financial Services announced the formation of a 50:50 joint venture with BlackRock to launch asset management services in India. The companies signed a second joint venture in April to set up a wealth management and broking business in the country.
“With our partner Jio Financial Services, we want to contribute to the country’s evolution from a nation of savers to investors. Investing is the way for people to reach their financial goals more quickly, and to accelerate wealth creation," said Rachel Lord, head of international for BlackRock.
The potential MF may use a digital-first approach to democratise the ₹50 lakh crore MF industry. Jio Financial Services' consolidated net profit increased multi-fold, from ₹31 crore in the previous fiscal year to ₹1,605 crore in FY24. Its revenue increased marginally, from ₹414 crore in the December quarter to ₹418 crore.
Jio Financial focuses on four pillars: lending and leasing, payment solutions and payments bank, insurance broking and mutual funds, and wealth management and broking services. The company is also advancing its lending business with secured products such as supply chain financing, loans on mutual funds, and device financing. On Friday, shares of Jio Financial Services settled 1.95 per cent lower at ₹338.75 apiece on the BSE.
Happy training ahead, Cheers BC 🍀
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