BSE Star Mutual Fund Outperforms in July 2021 ; Records Higher Transactions than June 2021
The exchange conveyed that it has exceeded the monthly record of 1.29 crore transactions achieved in June 2021
July month qualified to be a roller coaster ride for the domestic benchmark indices. While BSE Sensex was experiencing the bumpy ride, the investors were inclined towards participation in the markets via mutual funds.
The mutual fund distribution platform BSE StAR MF has processed a record of 1.32 crore transactions worth Rs 37,991 crore in July 2021. The exchange added that the transactions were recorded in such a critical COVID-19 outbreak and distributors channelising their transactions through online platforms. BSE Star MF had logged 1.14 crore transactions worth Rs 30,938 crore in May 2021, whereas 1.11 crore transactions worth Rs 33,735 crore in April 2021.
BSE StAR MF App (StAR MF Mobility) was successful in processing over 26 lakh transactions since its launch, worth Rs. 13,235 crore as on June 2021. The app was launched to assist Mutual Fund Distributors to register clients on a real-time basis and execute paperless transactions. Owing to the superior support system and distribution reach of BSE StAR MF, the platform has expanded to over 70,000 registered distributors in India.