BSE StAR MF logs record 1.14 cr transactions in May

New Delhi Leading stock exchange BSE on Tuesday said its mutual fund distribution platform StAR MF has processed a record 1.14 crore transactions worth Rs 30,938 crore in May.

It surpassed its all-time highest monthly figure of 1.11 crore transactions achieved in April, the exchange said in a statement. The transactions come amid the devastating Covid-19 outbreak and distributors channelising their transactions through online platforms, the exchange added.

Overall, the platform achieved 2.25 crore transactions in the first two months (April-May) of the current financial year as compared to 9.38 crore transactions in the entire 2020-21. Besides, the platform registered 6.88 lakh new systematic investment plans (SIPs) amounting to Rs 164.47 crore in May 2021, the exchange said. StAR MF's current SIP book size is 90.97 lakh. The exchange had launched BSE StAR MF app to help distributors and independent financial advisors register clients on a real-time basis.