BlackRock, Inc. [see profile] on Monday took the wraps off the BlackRock India Fund. The New York City-based firm is leveraging its joint venture with Mumbai-based DSP BlackRock Investment Managers Pvt. Ltd., for its latest offering.

DSP BlackRock Investment Managers has advised a similar fund in conjunction with BlackRock, BGF India Fund, since 2005. That fund is geared toward offshore investors.

"We believe India's strong growth and diversity of investment themes presents an exciting opportunity for investors over the medium-to-long term," said S. Naganath, President and Chief Investment Officer of DSP BlackRock Investment Managers Pvt. Ltd., in a press release.

BlackRock offers a total of more than 120 open-end mutual funds in the U.S.

BlackRock Launches New India Fund Bringing India's Strong Growth Prospects to US Investors

NEW YORK -- BlackRock, Inc. (NYSE:BLK) today announced the launch of the BlackRock India Fund (NASDAQ:BAINX), providing U.S. based investors with a new opportunity to invest in the growth and diversity of the world's fourth largest economy.

The firm will leverage its joint venture with Mumbai-based DSP BlackRock Investment Managers Pvt. Ltd., ("DSPBRIM") one of India's leading investment management companies, which has advised a similar fund in partnership with BlackRock for offshore investors � the BGF India Fund � since 2005.

The newly launched BlackRock India Fund for U.S.-based investors will enhance BlackRock's existing open-end mutual fund product offerings in the U.S, which already includes more than 120 funds.

"We believe India's strong growth and diversity of investment themes presents an exciting opportunity for investors over the medium-to-long term," said S. Naganath, President and Chief Investment Officer of DSP BlackRock Investment Managers Pvt. Ltd..

Nick Scott, portfolio manager of the Fund and Chief Investment Officer of Asian Fundamental Equity for BlackRock Hong Kong, will oversee the BlackRock India Fund, which will also be co-advised by Anup Maheshwari* and Apoorva Shah*. Nick Scott is also portfolio manager of the BGF India Fund. The BlackRock India Fund will offer a well-diversified portfolio of Indian companies. The fund manager seeks to maximize total return by reflecting views on the macro-economic environment as well as by using a "bottom up" approach, which entails the fundamental analysis of individual stocks and companies.

Mr. Maheshwari, co-adviser of the BlackRock India Fund, added: "We believe the Fund will have a competitive advantage, given BlackRock's global investment and risk management expertise as the world's largest asset manager, along with the experience and proven track record of the DSPBRIM team."

About BlackRock

BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At March 31, 2011, BlackRock�s AUM was $3.648 trillion. BlackRock offers products that span the risk spectrum to meet clients� needs, including active, enhanced and index strategies across markets and asset classes. Products are offered in a variety of structures including separate accounts, mutual funds, iShares� (exchange-traded funds), and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions�. Headquartered in New York City, as of March 31, 2011, the firm has approximately 9,300 employees in 26 countries and a major presence in key global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa. For additional information, please visit the Company's website at www.blackrock.com.

Edited by: Hung Tran

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