BSE’s MF logs 98 lakh transactions with a total value of Rs 50,400 crore

Leading stock exchange BSE on Thursday 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% of total financial transactions.

“BSE StAR MF has experienced a growth of 154% 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 bourse, 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.

WATCH ZEE BUSINESS VIDEO HERE

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.