BSE's mutual fund platform witnesses transaction worth over Rs 50,000 cr in Apr-July
The platform -- BSE Star MF -- had processed 37.71 lakh transactions amounting to Rs 33,190 crore in the April-July period of 2017-18, the exchange said in a statement.
Leading stock exchange BSE today said its mutual fund distribution platform has witnessed an over two-fold jump in a number of transactions to 98 lakh with a total value of Rs 50,400 crore in first four months of the ongoing fiscal.
The exchange's platform has a distribution network of over 13,500 registered members and more than 2 lakh member associates on its network across the country. Besides, it is adding over 2,000 mutual funds distributors per month.
SIP is an investment vehicle that allows investors to invest in small amount periodically instead of lump sum. The frequency of investment is usually weekly, monthly or quarterly. It is similar to a recurring deposit where investors deposit a small or fixed amount every month.
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