The decision to merge the two holding companies into one is not related to Jana’s universal banking aspirations while this would only help improving efficiency through a leaner structure, managing director and chief executive officer Ajay Kanwal said.
JioBlackRock Mutual Fund, a new entrant, reported an AUM of Rs 15,258 crore in March, with HDFC Bank and ICICI Bank as its top holdings.
Mutual fund trends highlight a structural shift in investor preference towards mid and small caps, sectoral themes, and multi-asset funds, while large caps lose share.
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