BSE StAR MF creates SIP storm in Indian Mutual Funds Industry
India’s largest digital Infrastructure, BSE StAR MF recorded 6000 SIP in single a day by Arihant Capital on August 20, 2018.
Mutual funds Distributors leveraging BSE StAR MF have created progressively and frequently creating records for SIP registration in a single day. It started with 301 SIP registrations in a single day couple of months back by BSE StAR MF Distributor, Progressively multi Records were made by different BSE StAR MF Distributors and on August 20, 2018, recorded over 6000 SIP by Arihant Capital in single day.
Shri Ashishkumar Chauhan, MD & CEO, BSE said “After witnessing this milestone, all AMCs will also wholeheartedly work with BSE Star MF to reduce their distribution cost and automate the distribution processes. It is estimated that each mutual fund order placed on BSE StAR MF saves mutual fund industry more than Rs 300/- per transaction. BSE StAR MF now contributes over 37 per cent of new SIP Registration in Mutual Funds Industry as on July 2018.”
The robustness and seamlessness of BSE StAR MF along with Swiftness of Distributors, query resolution through real time interaction through BSE StAR MF users telegram group has created an ideal ecosystem for all stakeholders in India Mutual Funds Industry.
This Digital Revolution in MFs in India on BSE StAR MF is now being experienced by over 14000 IFAs/MFDs, adding over 2500 new Distributors Every Month; overall distribution network of over 2 lakh in over 3,000 towns across India.
In current Fiscal till 20th August 2018, BSE StAR MF had processed over 1.17 crore Transaction amounting to over Rs.58,000 crores, that is 2.6 times over same period of last fiscal.