BSE StAR MF processes over 5 lakh orders in a single day
Mumbai, August 10th, 2018: 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 crs.
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.
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.
Shri Ashishkumar 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”
For more details on this release, please contact:
Yatin Padia – 022 2272 8516 / Rahul Vyas – 022 2272 8472 / Mihir Dani - 7738012080
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