BSE's StAR MF platform sees record 3 mn single-day transactions on Monday

BSE's mutual fund distribution platform StAR MF processed a record 29.9 lakh transactions in a single day on Monday.

The platform has surpassed its previous best single-day record of 26.65 lakh transactions registered on January 10, the exchange said in a statement.

Snehal Dixit, Business Head-Mutual Funds BSE StAR MF, said that reaching new heights by adding many more transactions is possible since mutual fund has become a product of the masses.

"Distribution is spreading due to digitisation, area and the scope for distributors, which is increasing with new investors entering the MF market,"she added.

In March, BSE StAR MF processed a record number of 1.97 crore transactions against its previous best of 1.87 crore transactions in January.

In the entire FY22, the mutual fund distribution platform processed 18.47 crore transactions as against 9.38 crore achieved in the preceding financial year.

Besides, the platform registered 10.89 lakh new systematic investment plans amounting to Rs 250 crore last month.