MUTUAL FUND

BSE’s StAR MF claims credit for 90% of Bharat-22 ETF subscription

It emerged the largest distribution platform for MFs in India in FY17

BSE on Tuesday claimed its StAR Mutual Fund platform, the largest online platform for mutual fund distribution in India, with a strong distribution network of over 5,200 direct members, including national distributors having more then 2,00,000 business associates, contributed over 90 per cent subscription for the S&P BSE Bharat -22 ETF NFO on the exchange infrastructure.

In the recently-concluded government of India’s divestment through Bharat -22 ETF NFO, managed by ICICI Prudential Mutual Fund, BSE’s e-platforms (BSE StAR MF and BSE BiMF) garnered Rs 4,630.60 crore contribution from over 1,12,780 applications, predominately in the retail category.

BSE StAR MF witnessed a growth on a year on year basis in orders to Rs 65.5 lakh in FY 16-17 from Rs 33 lakh in FY 15-16. In terms of value, it has grown to Rs 75,000 crore in FY 16-17 from Rs 44,000 crore in FY 15-16.

BSE StAR MF became the largest distribution platform for Mutual Funds in India in 2016-17. Over 86.5 lakh orders were processed aggregating to Rs 62,157 crore on the BSE StAR MF Platform till November 20 of FY 17-18, which is close to 20 per cent of total mutual fund buying in India.

This distribution network has on BSE StAR MF are adding over 1 lakh new SIPs per month and have access to 3.66 crore UCC on BSE as of November 2017.

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