Jio BlackRock Asset Management, a joint venture between Reliance Industries' Jio Financial and BlackRock, is changing its sales strategy by incorporating distributors to sell its products. This decision comes less than a year after its launch in June 2022, during which the firm exclusively offered direct plans. According to Sid Swaminathan, managing director and chief executive, the move is aimed at better serving a diverse market that may require additional support in making investment decisions. Currently, Jio BlackRock has 1.1 million retail investors, with 20% being first-time mutual fund investors. The firm manages ₹15,000 crore (approximately $1.8 billion USD) in retail assets, with ₹4,000 crore (approximately $480 million USD) specifically from retail investors. As it prepares to launch its specialized investment fund (SIF), Jio BlackRock plans to extend this distributor approach to its mutual fund schemes in the future. The decision to onboard distributors is not due to an inability to grow assets through direct sales, as the firm has seen significant interest, particularly from smaller towns, known as B30 towns, which contribute 40% of its retail AUM.