BSE StAR MF logs net equity inflow of Rs 1,488 cr in Sept

Mutual funds distributor platform BSE StAR MF registered a net inflow of Rs 1,488 crore in equity schemes in September amid market volatility, BSE said on Thursday. In contrast, the mutual fund (MF) industry witnessed a net withdrawal of Rs 734 crore from equity-oriented schemes during the same month, the exchange said in a release.

In the preceding month, net inflow in equity schemes was Rs 667 crore.

The platform recorded 71.93 lakh transactions in September 2020.

For the period under review, the turnover stood at Rs 24,493 crore, a jump of 47 per cent over the corresponding month previous year when the turnover was Rs 16,674 crore.

The platform registered 3.73 lakh new Systematic Investment Plans (SIPs) amounting to Rs 85.63 crore last month. Currently, its total SIP book size stands at over 50 lakh.

BSE StAR MF App (StAR MF Mobility) has processed over 9.63 lakh transactions since its launch in May 2019, amounting to Rs 6,553 crore.

The app was launched to help distributors and independent financial advisors register clients on a real-time basis and execute paperless transactions.


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