Investors in India are now routing more inflows to mutual funds via the online platform. This is evident from the fact that the BSE StAR MF, an online mutual fund distribution platform, has managed to achieve 26 per cent of net inflow to mutual funds for the current fiscal period up to November 2019.
Meaning clients do not have to pay any commissions for it to agents. The platform has achieved net inflows of Rs 48,947 crore out of 1,88,953 crore for current fiscal period up to November 2019, BSE said. Ganesh Ram, Head BSE StAR MF, BSE said, “This achievement is a clear indication of BSE's vision to enhance its market share and confidence of increasing the market share significantly in the coming days. It is worthwhile to note that BSE is aiming at touching a milestone of 50L transactions/month and 10L transactions/day very soon.” With its superior support system and distribution reach, BSE StAR MF is growing exponentially with more than 55,000 distributors already registered on the platform. The platform has already set up a new transactional benchmark of processing 46.76L transactions/month and 7.84 lakh transactions/day. In the current fiscal from April to November 2019, BSE StAR MF has done 3.41 crore transactions with a value of Rs 1.17 lakh crores which is 56 per cent growth as compared to the same period in the previous fiscal. (2.19 Crs transactions with a value of Rs 1.03 lakh Crs). Mobile apps added 1.41 lakh transactions with a value of 1,367 crores this fiscal upto November 2019. BSE StAR MF has a market share of 52 per cent of new customers in the current quarter. It has added 2.4 lakh new SIPs in November 2019 and 4.30 lakh new SIPs for the current quarter. In November 2019, BSE StAR MF processed 31,67,379 SIPs.