BSE StAR MF sets a new record; processes over 12.88 lakh transactions in a single-day
Outshines former highest monthly record of 11.58 lakh transactions in Apr 2020
Mumbai, October 12th, 2020: BSE StAR MF, India's largest and leading Mutual Funds Distributor platform has once again created a new record registering 12.88 lakh transactions on 12th October,2020 outdoing its previous best single-day record of 11.58 lakh transactions(on 13th April 2020).
With digital transactions ruling the roost due to the outbreak of Covid-19, all mutual funds are channelizing their transactions though online platforms. BSE StAR MF also set its second highest monthly record of 71.93 lakh transaction in Sep’20 as against its current best of 73.34 lakh transactions in Aug’20.
In spite of the nationwide pandemic and lockdown BSE StAR MF has been able to constantly help AMCs, members and their clients in smooth paperless transactions.
Commenting on this, Mr Ganesh Ram, Business Head-Mutual Funds, BSE StAR MF said, ‘’BSE StAR MF has relentlessly worked to make mutual fund transactions simpler by working closely with IFAs across India, launching digital initiatives like eKYC, Common Empanelment, SIP Pause, Organizing webinars for digital handholding, NFOs launch programs, product/knowledge development, etc.
The StAR MF regional team has been handholding many distributors during these tough times to switch over to the online platform from physical mode.”
Overall, the platform achieved 70% of the transaction within 6 months which is 4 Cr. during FY 20-21(Apr-Sep) as compared to 5.75 Cr. transactions during FY 19-20.
Some of the Key Highlights are:
· For Sep’20 it was Rs. 24,493 Cr. compared to Rs. 16,674 Cr. on Sep’19, a significant growth of 47%
· Turnover for Q2 FY 20-21 was Rs. 75,531 Cr as compared to Rs. 48,942 Cr for Q2 FY 19-20, an excellent increase by 54 %
Net Equity Inflow:
· For Sep ’20 it was Rs. 1,488 Cr compared to Rs. 667 Cr for Aug ’20, an excellent growth of 123%
· Net Equity inflow during Q2 of FY 20-21 is Rs.2,808 Cr compared to Rs. 4,497 Cr for Q2 FY 19-20 a decline of 38%
· For Sep ’20 it was 71.93 lakh a decrease by 2% as compared to 73.34 lakh for Aug’20
· For Sep’20 it was 71.93 lakh as compared to 42.91 lakh for Sep ’19, a growth of 68%.
· Transactions during Q2 of FY 20-21 was 2.14 Cr as compared to 1.28 Cr during Q2 of FY 19-20, a tremendous growth by 67%.
SIP Book Size:
· Total StAR MF’s SIP book size is 54 lakh as on date.
· For Sep ’20 the platform registered 3.73 lakh new SIPs amounting to Rs. 85.63Cr.
· For Aug ’20 the platform registered 3.54 lakh new SIPs amounting to Rs. 86.59 Cr.
· Distributor count has seen multi-fold increase to 68,487 as on date.
BSE StAR MF App (StAR MF Mobility) has processed over 9.83 lakh transactions since its launch, amounting to Rs. 6,635 Cr. The app was launched to help distributors and IFAs (Independent Financial Advisors) register clients on real-time basis and execute paperless transactions. Because of the superior support system and distribution reach of BSE StAR MF, the platform has grown exponentially with over 68,487 registered distributors in India.
BSE (formerly Bombay Stock Exchange) established in 1875, is Asia’s first & now the world’s fastest Stock Exchange with a speed of 6 microseconds. BSE is India’s leading exchange group and has played a prominent role in developing the Indian capital market. BSE is a corporatized and demutualized entity, with a broad shareholder base that includes the leading global exchange- Deutsche Bourse, as a strategic partner. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, commodity derivatives, interest rate derivatives, mutual funds and stock lending and borrowing.
BSE also has a dedicated platform for trading in equities of small and medium enterprises (SMEs) that has been highly successful. BSE also has a dedicated MF distribution platform BSE StAR MF which is India Largest Mutual Funds Distribution Infrastructure. On October 1, 2018, BSE launched commodity derivatives trading in Gold, Silver, Copper, Oman Crude Oil Guar Gum, Guar Seeds & Turmeric.
BSE provides a host of other services to capital market participants including risk management, clearing, settlement, market data services and education. It has a global reach with customers around the world and a nation-wide presence. BSE’s systems and processes are designed to safeguard market integrity, drive the growth of the Indian capital market and stimulate innovation and competition across all market segments.
Indian Clearing Corporation Limited, a wholly owned subsidiary of BSE, acts as the central counterparty to all trades executed on the BSE trading platform and provides full novation, guaranteeing the settlement of all bonafide trades executed. BSE Institute Ltd, another fully owned subsidiary of BSE runs one of the most respected capital market educational institutes in the country. Central Depository Services Ltd. (CDSL), associate company of BSE, is one of the two Depositories in India.
BSE has set up an Investor Protection Fund (IPF) on July 10, 1986 to meet the claims of investors against defaulter Members, in accordance with the Guidelines issued by the Ministry of Finance, Government of India. BSE Investor Protection Fund is responsible for creating Capital markets related awareness among the investor community in India.
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