Media Release
BSE StAR MF processes over 2.5 lakh orders in a Single day
Mumbai, November 10, 2017: BSE StAR MF distribution platform, the largest distribution framework for Indian Mutual Fund, today received 2, 53,575 orders, a record high for a day. The total value of these orders is over Rs. 525 crs.
BSE StAR MF witnessed a growth over Year on Year basis in orders to Rs. 65.5 lac in FY 16-17 from Rs. 33 lacs in FY 15-16. In terms of value, it has grown to Rs. 75,000 crs in FY 16-17 from Rs. 44,000 crs in FY 15-16. BSE StAR MF has become the largest distribution platform for Mutual Funds in India in 2016-17. Over 75.5 lakh orders processed aggregating to Rs. 55,257 crs on BSE StAR MF Platform till October 31st, 2017 of FY 17-18.
As on October 31st, 2017, there are over 5,100 registered members and the membership is growing at a brisk pace.
This distribution network of BSE StAR MF has been adding nearly 1 lakh new SIPs per month and has by now added over 34 lakh UCC on BSE' mutual funds platform till October 31st, 2017 of FY 17-18.
Commenting on the development, Shri Ashishkumar Chauhan, MD & CEO, BSE said, “The mutual funds industry is growing at a tremendous pace. This is a positive development for BSE too as we continue to digitize and grow this Industry. BSE is the market leader in mutual fund distribution by miles and we are confident that BSE StAR MF has the potential to completely change the distribution framework of Indian MF industry by reducing the cost and increasing the predictability of processes”.
For more details on this release, please contact:
Yatin Padia – 022 2272 8516 / Rahul Vyas – 022 2272 8472
Corporate Communications
yatin.padia@bseindia.com/rahul.vyas@bseindia.com