BSE StAR MF contributes 47% of net equity inflow, 53% of new SIPs in October

BSE StAR MF has said that it has contributed 47% of the net equity inflow into mutual funds in October. The platform contributed Rs 4,397 crore of MF investments in October. BSE StAR MF achieved its highest monthly record of 2.10 crore transactions in October 2022 as against its previous high of 2.08 crore transactions in September 2022.

According to a press release, BSE StAR MF processed a record 34.29 lakh transactions on October 10 versus its previous record of 32.48 lakh transactions (on 12th September 2022). The platform also contributed 10.49 lakh new SIP registrations achieving 53% of industry’s new SIP registrations of 19.73 lakhs in October 2022. This means that every second SIP being added to the industry is through the BSE StAR MF platform.

BSE StAR MF has achieved a growth of 76% in transactions over the previous FY 22. It has achieved 13.96 Cr. transactions in FY 23 of 18.47 Cr. transactions in FY 22. The platform’s MF Distributor network has seen a multi-fold increase to 73,719 distributors (as on October 2022). Distributors have processed over 86.14 lakh transactions through the BSE StAR MF mobile app since its launch, of value worth Rs 24,555 Cr as on October 22.