Top Mutual Funds BSE StAR received over 5 lakh orders in a single day. The BSE StAR MF orders worth 700 crore Rupees hit a record high for a day.
BSE StAR MF distribution platform has seen about 15.62 lakh orders in just 8 trading days of August 2018. And within the 8 trading days, the largest distribution framework for Indian Mutual Fund has witnessed over 2 lakh orders in a day for 3 days.
The MF platform has contributed nearly 26 percent of total SIPs (Systematic Investment Plans) added to the mutual funds’ industry in India. It has added 2.65 lakhs new SIPs in July 2018.
The StAR Mutual Fund has witnessed a growth of more than 540 percent in the past two years for the same period. The MF distribution platform’s infrastructure predominantly offers transactions to the retail category of MFs industry.
The top Mutual Funds BSE StAR offers about 26 percent in terms of transactions and more than 40 percent in terms of the value of transactions, to the retail category.
“We believe, it is just the beginning,” said Ashishkumar Chauhan, MD, and CEO, BSE.
Chauhan confidently said that the BSE StAR MF has the potential to perform 50 lakh to 1 crore mutual fund transactions in a single day. The MF platform also has the possibility to do more than 5 crore to 10 crore transactions in a single month, he added.
He also feels all the Asset Management Companies (AMCs) would prefer to work with BSE Star MF to decrease their distribution cost and automate the distribution processes, after seeing this breakthrough achievement in orders.
According to Chauhan, it has been assessed that each mutual fund orders received on BSE StAR MF saves more than 300 Rupees for the MF industry, reported MONEY LIFE.
Top Mutual Funds BSE StAR has recorded transactions worth 50,400 crore Rupees, in the April-July quadrant of the current fiscal year, the BSE (Bombay Stock Exchange) announced the news in a statement, reported Money Control.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]