BSE StAR MF processed over 59.29 lakh transactions amounting to Rs 25,540 crore

Mutual funds distributor platform BSE StAR MF contributed Rs 3,493 crore as net equity inflow in May, which is 66 per cent of the MF industry’s total Rs 5,256 crore, the exchange said on Thursday. In comparison, the platform had contributed 61 per cent of the 44-player mutual fund industry’s net equity inflow of Rs 6,213 crore in April. The platform’s total contribution to all the schemes together stood at Rs 8,210 crore in May, which was 12 per cent of the industry total of Rs 70,813 crore.

BSE StAR MF processed over 59.29 lakh transactions amounting to Rs 25,540 crore, in the month under review.
In spite of the COVID-19 pandemic and nationwide lockdown, the platform has helped AMCs, members and their clients in smooth paperless transactions, BSE said in a statement.

The platform registered 2.52 lakh new systematic investment plans (SIPs) amounting to Rs 57.54 crore last month. At present, total SIP book size stands at 40 lakh amounting to Rs 1,238 crore. BSE StAR MF App (StAR MF Mobility) has processed over 5.56 lakh transactions since its launch in May 2019, amounting to Rs 4,184 crore. The app was launched to help distributors and independent financial advisors register clients on real-time basis and execute paperless transactions.