BSE StAR MF logs net equity inflow of Rs 667 cr in Aug

Mutual funds distributor platform BSE StAR MF registered a net inflow of Rs 667 crore in equity schemes in August amidst market volatility, the exchange said on Thursday. Currently, its total SIP book size stands at over 50 lakh. BSE StAR MF App (StAR MF Mobility) has processed over 8.47 lakh transactions since its launch in May 2019, amounting to Rs 5,990 crore.

Mutual funds distributor platform BSE StAR MF registered a net inflow of Rs 667 crore in equity schemes in August amidst market volatility, the exchange said on Thursday. The mutual fund (MF) industry witnessed a net withdrawal of Rs 4,000 crore from equity-oriented schemes during the same month.

In July, BSE StAR MF had witnessed net inflow of Rs 653 crore in equity funds, while the MF industry had logged an outflow of Rs 2,480 crore from such funds during the period. Despite the nationwide pandemic and lockdown extension, BSE StAR MF has helped AMCs (asset management companies), members and their clients in smooth paperless transactions, BSE said in a statement.

The platform achieved 73.34 lakh transactions last month. With this, its total transactions reached 3.28 crore during the first five months of the current fiscal. The platform registered 3.47 lakh new Systematic Investment Plans (SIPs) amounting to Rs 86.6 crore last month. Currently, its total SIP book size stands at over 50 lakh.

BSE StAR MF App (StAR MF Mobility) has processed over 8.47 lakh transactions since its launch in May 2019, amounting to Rs 5,990 crore. The app was launched to help distributors and independent financial advisors register clients on a real-time basis and execute paperless transactions.

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