BSE Star MF processes 1-crore transactions worth Rs 75,000 crore
The platform -- BSE Star MF -- has experienced a growth of over 500% in the last two years, the exchange said in a statement.business Updated: Dec 15, 2017 21:10 IST
Leading stock exchange BSE on Friday said its mutual fund distribution platform has processed a record one crore transactions in the current fiscal, with a total value of over Rs 75,000 crore.
The platform -- BSE Star MF -- has experienced a growth of over 500% in the last two years, the exchange said in a statement.
“Over last few years, BSE Star MF has changed the concept of mutual fund distribution in India and provided comfort to investors along with convenience, safety, speed and certainty in execution,” BSE managing director and CEO Ashishkumar Chauhan said.
“Our next focus will be to use the same highly compliant distribution network to distribute additional financial products such as insurance in near future,” he added.
BSE had processed a record, over 2.91 lakh transactions, in a day on Monday. Last month, it had executed more than 1 lakh transactions per day on six occasions out of 21 trading days.
BSE Star MF, on an average, is adding more than one lakh new systematic investment plans (SIPs) every month and processes nearly 10 lakh SIPs every month.
More than 80% of the transactions are in retail category, the platform now contributes over 50 per cent of net new inflows (lump sum and new SIPs) in equity schemes.