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AMCs to pay service charge per transaction to BSE StAR MF Platform

Nikita Singh
/ Categories: Trending, Markets
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The 37 AMCs accounting for over 99.99 per cent of the total assets under the management in Indian Mutual fund industry agreed to pay a service charge per transaction for using BSE StAR MF platform on Tuesday, adding notably to BSE’s resources to provide better services to Mutual funds industry and investors. The increased resources will also aid BSE to bring further automation to the mutual funds industry and investment culture in India.

BSE StAR MF platform has become the largest mutual fund distribution Infrastructure with over 20 per cent of the market share in new subscription for fiscal year 2018. It processes more than 24 lakh transaction per month to Mutual Fund industry as of March 2018 and has processed over 1.75 crore transactions amounting to Rs. 1,18,112 crore. 

The BSE StAR MF exchange Infrastructure is predominately catering to retail category of mutual funds Industry with a share of 99.73 per cent in terms of transactions and over 76 per cent in terms of value of transactions. The platform is adding over 1000 members per month has more than 200,000 IFAs, brokers, broker branches and associates on its Network in over 3000 cities and towns across India. Almost all the top distributors of mutual funds are part of BSE.

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