BSE StAR MF processes around 1 million orders in March

By: | Published: March 31, 2017 7:10 PM

BSE StAR MF distribution platform today said it has received nearly one million orders in a single month - March. Total value of these orders is over Rs 15,000 crore. The platform received over Rs 1 lakh order in a single day - on March 10, 15 and 27.

BSE StAR MF is a web-based transaction processing, fully automated online MF collection and settlement system.

BSE StAR MF distribution platform today said it has received nearly one million orders in a single month – March. Total value of these orders is over Rs 15,000 crore. The platform received over Rs 1 lakh order in a single day – on March 10, 15 and 27.

BSE StAR MF is a web-based transaction processing, fully automated online MF collection and settlement system. It witnessed a growth over year-on-year basis in orders to Rs 65.5 lakh in fiscal 2017 from Rs 33 lakh a year ago.

In terms of value, it has grown to Rs 75,000 crore in fiscal 2017 from Rs 44,000 crore a year ago. Thus, BSE StAR MF became the largest distribution platform for mutual funds in the country in 2016-17.

You may also watch:

At present, there are 3,400 registered members and around 1,350 of them have actively participated on the platform. “The platform has seen tremendous growth since inception and has been progressing year-on-year,” Ashishkumar Chauhan, managing director and chief executive, BSE, said in a
statement.

“Due to its unique features, we see more and more members joining the platform. We are certain that BSE StAR MF will revolutionise the framework of Indian mutual fund industry,” he added.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition