Stocks

BSE StAR MF trade falls 11% in June

Our Bureau Mumbai | Updated on July 09, 2020 Published on July 09, 2020

The drop is attributed to fund houses accepting forms for physical transactions.

The transactions processed on BSE StAR MF, the online platform for Mutual Funds distributor, was down 11 per cent in June at ₹22,667 crore against ₹25,540 crore logged in May as mutual funds started accepting forms for physical transactions besides opening their offices with state governments unlocking economic activities after the Covid lockdown.

Mutual funds had stopped accepting physical forms during the Covid pandemic.

Net equity inflow last month dropped 46 per cent to ₹1,882 crore against ₹3,493 crore in May as investors shunned equity markets due to poor returns and the industry itself could manage to attract only net equity inflow of just ₹241 crore.

In May, it had contributed 66 per cent or ₹3,493 crore of the industry’s total equity inflow of ₹5,257 crore.

Overall in the June quarter of this fiscal, the platform logged in 1.86 crore transactions against 1.22 crore transactions registered in the same period last year.

Turnover on the platform in June quarter was up 97 per cent to ₹85,420 crore against ₹43,367 crore recorded in the same quarter last year.

Net equity inflow in June quarter more than doubled to ₹9,181 crore against ₹4,079 crore logged last year.

Total StAR SIP book size was at ₹1,305 crore. In June it registered 2.67 new SIPs of ₹67 crore compared to ₹58 crore in May.

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Published on July 09, 2020
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