Development News Edition
Give Feedback

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.


PTI Last Updated at 02 Aug 2018, 17:08 IST India

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 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.

Currently, BSE StAR MF contributes over 26 percent of total financial transactions.

"BSE StAR MF has experienced a growth of 154 percent in first four months of the financial year 2018-19 with over 97.73 lakh orders were process amounting to Rs 50,400 crore," the exchange noted.

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.

According to the course, the simplicity and robustness of BSE StAR MF exchange infrastructure have encouraged many distributors to register record systematic investment plans (SIPs) in a single day.

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.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

COUNTRY :
India

add banner

LEAVE COMMENT

Download our Android App on Google Play