BSE’s mutual fund distribution platform just clocked a million transactions in a day

• BSE records new high in transaction processing on February 10.
  
  
• 1.13 lakh new SIPs amounting to ₹32.48 crore in the period of last ten days

BSE StAR MF recorded a new high by processing 10.10 lakh transactions worth ₹1,075 crore, on February 10.

BSE StAR MF is the mutual fund exchange platform where a distributor can purchase and redeem mutual fund units on behalf of its clients.

The previous high was 8.79 lakh transactions recorded last year in November. BSE stAR MF platform has surpassed 4.47 crore transactions in the current fiscal year for the period April to January 2020.

The mutual fund platform had registered 1.13 lakh new SIPs amounting to ₹32.48 crore for the period February 1 to February 10.

BSE StAR MF transactions grew at the rate of 58% when compared to the same period last year. It processed 4.99 crore transactions compared to 3.16 crore last year. The turnover is up by 16% for the same period last year and stands at book size of 36.81 Lakhs amounting to ₹1058.28 crores.

“BSE StAR MF app has processed over 2.26 Lakh transactions since its launch, amounting to Rs 1990.7 crore. It is the superior support system and distribution reach of BSE StAR MF that is enabling the platform to grow exponentially with over 55,000 registered distributors in India,” cited the BSE report.