BSE StAR MF records a new high with 1.10 Cr transactions in March 2021
BSE StAR MF, India's largest and leading Mutual Funds Distributor platform has scaled new highs by recording 1 crore monthly transactions, the highest ever on the platform.
The former highest monthly transactions was 92.98 lakh in January 2021. BSE StAR MF has helped AMCs, members and their clients in smooth, automated, paperless transactions, witnessing a 19 per cent increase in transactions as compared to the previous month.
In spite of a tumultuous fiscal, BSE StAR MF processed over 9.38 crore transactions amounting to Rs. 3,33,095 crore in FY21, which is 63 per cent growth as compared to 5.75 crore in FY20. The platform achieved net inflows of Rs. 22,444 crore in FY21. Mobile apps added 15.59 lakh transactions with a value of Rs. 8,126 crore in FY21.
The platform also recorded highest number of new SIPS registrations 5.45 lakh in a single month in March 2021, as compared to previous best of 4.97 lakh in February 2021.
In the quarter from January to March 2021, BSE StAR MF added 15.45 lakh new SIPs.
It is also worthwhile to note that BSE StAR MF, achieved Rs. 4,233 crore in March 2021, of net inflows out of total transactions value processed of Rs. 22,444 crore in FY21. Number of unique client code UCC created in BSE StAR MF during FY21 was 1.70 crore and 4.81 crore since inception.
The BSE StAR MF App (StAR MF Mobility) has processed over 19.28 lakh transactions since its launch, amounting to Rs. 11,007 crore. The app was launched to help distributors and IFAs (Independent Financial Advisors) register clients on real-time basis and execute paperless transactions. Because of the superior support system and distribution reach of BSE StAR MF, the platform has grown exponentially with over 69,000 registered distributors in India.