BSE StAR MF achieves 50% of all India net new Inflow in equity schemes in Retail
Author(s): City Air NewsChandigarh, December 15,2017: India's largest mutual funds distribution Infrastructure, BSE StAR MF has processed a record 1 crore transaction in current fiscal i.e. till December 15, 2017 of FY 17-18 with a total...
Chandigarh, December 15,2017: India's largest mutual funds distribution Infrastructure, BSE StAR MF has processed a record 1 crore transaction in current fiscal i.e. till December 15, 2017 of FY 17-18 with a total value of over Rs. 75000 crs.
BSE StAR MF has experienced a growth of over 500 % in last 2 years for the same period. On December 11, 2017, BSE processed over 2, 91,000 transactions on a single day, a record high. In November 2017, BSE StAR MF processed more than 1 lakh transactions per day on 6 occasions out of 21 trading days. BSE StAR MF?is adding more than 1 lakh New SIPs per month and processes nearly 10 lakh SIPs every month. More than 80% of transactions on BSE StAR MF are in retail category, StAR MF now contributes over 50% of net new inflows (Lumpsum and New SIPs) in equity schemes under retail category.
Commenting on the development, Shri Ashishkumar Chauhan, MD & CEO, BSE said, “we are happy with the progress achieved so far in mutual fund distribution at BSE Star MF. Over last few years, BSE Star MF has changed the concept of Mutual Fund distribution in India and provided comfort to the Mutual Fund investors along with convenience, safety, speed and certainty in execution. BSE has patiently invested huge efforts and resources despite all odds over last 8 years in modernizing Indian mutual fund distribution which ranks amongst the most efficient and lowest cost MF distribution frameworks in the world. We believe we have a long way to go in this area. Our next focus will be to use the same highly compliant distribution network to distribute additional financial products such as insurance in near future”
In the recently concluded government of India's divestment through Bharat -22 ETF NFO , BSE's mutual funds infrastructure contributed 90% subscription for S&P BSE Bharat -22 ETF NFO on Exchange Infrastructure? and garnered Rs. 4,630.60 crs contributed by 1,12,780 applications , predominately in retail category.
BSE StAR MF now has more than 200,000 IFAs, brokers, broker branches and associates on its Network in over 3000 cities and towns across India. Almost all the top distributors of mutual funds are part of BSE StAR MF now.