# JioBlackRock Liquid Fund Direct Growth

JioBlackRock Liquid Fund Direct Growth is a liquid fund from Jio BlackRock Mutual Fund, launched in July 2025. Foliyo’s research tags it Emerging.

Updated 2 November 2026 by the Foliyo Research Desk, led by Sachin Kabra, Principal Officer (SEBI RIA INA000023454) · https://foliyo.ai/mutual-funds/jioblackrock-liquid-fund-direct-growth/

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- NAV (1 November 2026): ₹1085.77
- Fund size: ₹8,256 Cr
- Expense ratio: 0.10%
- 1-year return: 6.5%

1 year: NAV ₹1019.20 on 1 November 2025, **₹1085.77** on 1 November 2026.

Since the start: NAV ₹1000.00 on 4 July 2025, **₹1085.77** on 1 November 2026.

## Foliyo’s view: Emerging

(Emerging) Promising: low cost and a 1-year return of 6.5%, with large assets, but the record is too short to prove anything.

### Why it is tagged Emerging

Foliyo’s Research Desk tags a fund **Emerging** when it is under 3 years old and its first year is among the strongest in its category, judged against every peer’s last year over the same months on 1-year return (25% of the weight), how often it stayed ahead of the peer median (15%), Sharpe ratio (15%), worst fall (10%), downside capture (10%) and expense ratio (15%). JioBlackRock Liquid Fund ranks **2 of 37** in Liquid, 1.3 years after launch. An Emerging tag says the start is strong; it becomes a Leader, Strong, Steady or Laggard call once the fund has a 3-year record.

#### Pros

- Its 1-year return of 6.5% is above the 6.4% peer median, with 1-year volatility of 0.2%.
- Its expense ratio of 0.10% is below the 0.14% median, and the fund has grown to ₹8256 Cr.
- Cash and equivalents are 99.8% with no bonds below AA.

#### Cons

- It is 1.3 years old with no 3-year history to test it, and a 0.1% lead is close to a tie.
- Arun Ramachandran took over as lead manager in Oct 2026, so the short record was built under a previous manager.

## Against similar funds

Figures from the review of 23 October 2026, against the median of the 37 funds in Liquid. Green means better than the median.

- 1-year return: 6.5% +0.1 pts median 6.4%
- Yield to maturity: 6.06% −0.1 pts median 6.17%
- Expense ratio: 0.10% −0.04 pts median 0.14%
- Cash: 99.8% median 99.7%
- Fund size: ₹8,256 Cr median ₹7,104 Cr

## Returns

Direct Growth plan, to 1 November 2026.

| Period | Fund | Category average |
| --- | --- | --- |
| 1 month | 0.4% | 0.4% |
| 3 months | 1.5% | 1.3% |
| 6 months | 3.2% | 2.8% |
| 1 year | 6.5% | 5.8% |
| Since launch (a year) | 6.4% | — |

## Portfolio

Portfolio as of 30 September 2026: 46 holdings, yield to maturity 6.06%, modified duration 0.11 years.

### Asset allocation

- Cash & equivalents 99.8%
- Debt 0.2%

### Market cap split

- Other 100.0%

### Top sectors

- Other 100.0%

### Top 10 holdings

1. Canara Bank: 7.80%
2. Hdfc Bank Ltd (04-Dec-2026) **: 7.19%
3. Net Receivables / (Payables): 6.30%
4. National Bank for Agriculture and Rural Development: 6.00%
5. Sikka Ports & Terminals Limited: 5.76%
6. India (Republic of): 5.73%
7. LIC Housing Finance Ltd.: 4.21%
8. India (Republic of): 4.10%
9. Icici Securities Limited: 3.59%
10. HDFC Bank Limited: 3.59%

## Fund managers

- VM**Vikrant Mehta**Since 7 October 2026
- SD**Siddharth Deb**Since 7 October 2026
- AR**Arun Ramachandran** (lead)Since 7 October 2026

## Investment objective

The investment objective of the Scheme is to generate regular income through investment in a portfolio comprising of money market and debt instruments with residual maturity up to 91 days.

## Fund details

| Category | Liquid |
| --- | --- |
| Fund house | Jio BlackRock Mutual Fund |
| Launch date | 4 July 2025 |
| Benchmark | Nifty Liquid Index A-I TR INR |
| Riskometer | Low to Moderate Risk |
| Expense ratio | 0.10% (September 2026) |
| Exit load | Day at which investor exits from the scheme from date of allotment Exit Load as a % of redemption proceeds Day 1 0.0070% Day 2 0.0065% Day 3 0.0060% Day 4 0.0055% Day 5 0.0050% Day 6 0.0045% Day 7 onwards 0.0000% |
| ISIN (Direct Growth) | INF22M001010 |

## How Foliyo’s research ranks funds

Every month Foliyo’s Research Desk reviews each Indian mutual fund with at least ₹500 Cr under management (1,035 funds in the review of 23 October 2026), through its Direct Growth plan, and ranks it against the other funds in its category. No fund house pays us, and we earn no commission, so the ranking has no reason to favour anyone. For equity funds the ranking weighs:

- **Performance (35%):** 3, 5 and 1-year returns, and where the fund stands among all funds in its category over 3 and 5 years.
- **Consistency (25%):** how often the fund was ahead of its peers over rolling 1 and 3-year periods, and in how many calendar years it finished in the top half.
- **Risk (25%):** return per unit of risk (Sharpe and Sortino ratios), how much of the market’s falls it took (downside capture), its worst fall and its volatility.
- **Cost (10%) and stability (5%):** the expense ratio, and how long the lead manager has run the fund.

Where a fund stands sets its label: **Leader** (the strongest in the category), **Strong**, **Steady** and **Laggard** (behind most of its peers). A fund under 3 years old is never judged on a full record: its first year is compared with every peer’s last year (1-year return 25%, steadiness against peers 15%, Sharpe ratio 15%, worst fall 10%, downside capture 10%, cost 15%), and it is labelled **Emerging** when that start is among the strongest, or **Too early** otherwise. Red flags are set by rule, never by opinion: a new lead manager, a portfolio that strays from the category’s mandate, high cash, high cost or a concentrated portfolio.

## Frequently asked questions

### What is the NAV of JioBlackRock Liquid Fund Direct Growth today?

The NAV of JioBlackRock Liquid Fund Direct Growth was ₹1085.7689 on 1 November 2026.

### Why does Foliyo tag JioBlackRock Liquid Fund as Emerging?

Foliyo’s Research Desk tags a fund **Emerging** when it is under 3 years old and its first year is among the strongest in its category, judged against every peer’s last year over the same months on 1-year return (25% of the weight), how often it stayed ahead of the peer median (15%), Sharpe ratio (15%), worst fall (10%), downside capture (10%) and expense ratio (15%). JioBlackRock Liquid Fund ranks **2 of 37** in Liquid, 1.3 years after launch. An Emerging tag says the start is strong; it becomes a Leader, Strong, Steady or Laggard call once the fund has a 3-year record.

### What is the expense ratio of JioBlackRock Liquid Fund Direct Growth?

0.10% a year, as disclosed for September 2026, against a median of 0.14% for similar funds.

### What is the fund size (AUM) of JioBlackRock Liquid Fund?

₹8,256 Cr as of 30 September 2026.

### What returns has JioBlackRock Liquid Fund Direct Growth given?

6.5% over the last year and 6.4% a year since launch, to 1 November 2026. Past returns don’t say what it will return next.

### Who manages JioBlackRock Liquid Fund?

Vikrant Mehta, Siddharth Deb, Arun Ramachandran (lead).

### What is the exit load of JioBlackRock Liquid Fund?

Day at which investor exits from the scheme from date of allotment Exit Load as a % of redemption proceeds Day 1 0.0070% Day 2 0.0065% Day 3 0.0060% Day 4 0.0055% Day 5 0.0050% Day 6 0.0045% Day 7 onwards 0.0000%

**About this research.** Labels, ranks and notes come from Foliyo’s Research Desk, led by Sachin Kabra, Principal Officer, which reviews every Indian mutual fund with at least ₹500 Cr under management against its category peers each month, using funds data. They describe how a fund has done, not how it will do, and they are not a recommendation to buy, hold or sell any fund. Mutual fund investments are subject to market risks; read all scheme-related documents carefully. Past performance is not indicative of future returns.

Foliyo is the brand of Weekend Bytes Tech Private Limited, a SEBI-registered Investment Adviser (INA000023454). Registration granted by SEBI and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors. Foliyo earns no commission from any fund house.

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