INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Leading stock exchange BSE today said its mutual fund distribution platform has witnessed an over two-fold jump in 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 per cent of total financial transactions.
"BSE StAR MF has experienced a growth of 154
per cent in first four months of 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 has 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
