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BSE StAR MF processes over 5 lakh orders

Newsroom Post-English 2018-08-10 17:44:18

Mumbai: BSE StAR MF distribution platform, the largest distribution framework for Indian Mutual Fund, today received over 5 lakh orders, a record high for a day. The total value of these orders is over Rs 700 crores.

BSE StAR MF has witnessed 15.62 lakh orders in 8 trading days of August 2018 with 3 days over 2 lakh orders in a day.

BSE StAR MF added 2.65 lacs new SIP in July 2018, nearly 26% of total added to MF industry.

History created!! Over 5 lakh transactions in a single day on BSE StAR MF, India’s largest online Mutual Fund platform.

— BSE India (@BSEIndia) August 10, 2018

BSE StAR MF has experienced a growth of over 540 % in last 2 years for the same period. The BSE StAR MF exchange infrastructure is predominately catering to retail category of mutual funds industry i.e. 26 % in terms of transactions and over 40 % in terms of value of transactions.

‘BSE StAR MF can do upto 1 crore transactions in a day’

Shri Ashish kumar Chauhan, MD&CEO, BSE said “We believe, it is just the beginning. BSE StAR MF has a potential to do 50 lakh to 1 crore MF transactions in a single day. And more than 5 to 10 crore transactions in a month. We are sure, after witnessing this milestone, all AMCs will also whole heartedly work with BSE Star MF to reduce their distribution cost and automate the distribution processes. It is estimated that each MF order placed on BSE StAR MF saves MF industry more than Rs 300.”