BSE launches StAR MF Plus; a premium platform for distributors

BSE has been leading the way in adopting newer technologies and launching new, innovative products. Its StAR MF platform is known for its superior services including end-to-end value-based services offered to the asset management companies (AMCs), distributors, investors, and mutual fund industry participants. With a new emphasis on providing world class services to its members, BSE has announced the launch of StAR MF Plus, a premium platform loaded with key features for Distributors and their clients.
StAR MF Plus offers complete front office, order management, analytics, CRM, back office and business support solutions.

Some of its key features are:
• Complete power-packed solution for RIAs/Distributors
• Enables Client Onboarding & eKYC
• Customer portfolio Management
• Portfolio reporting & business reporting
• Presales tools
• Sub-broker network
• Multi-asset view
• Investor Risk Profiling
• Online Market Feeds
• Brokerage calculation & reconciliation Module
• Customisable Admin utility module
• Goal Tracking
• Fee management
• Regulatory & Compliance requirements
• Financial planning tools
• CRM & many more

All these features are accessible on Web and App (Android & IOS app).

Commenting on the new service, Mr. Ganesh Ram, Head - Mutual Funds, BSE StAR MF, said, “Through the services offered by BSE Star MF, we have been able to change the concept of mutual fund distribution in India and provide comfort to investors along with convenience, safety, speed and certainty in execution. BSE StAR MF has been able to simplify the mutual fund investment process and increase efficiency. Through this new service, with one-of-its-kind unique features, we look forward to connecting with more and more Distributors, AMCs, their clients, and strengthen our position as the preferred electronic mutual fund investment platform of choice across India.”

Some of the recent key Performance Highlights of BSE StAR MF are:

• Processed highest single-day transactions 14.69 lakh in Jan’21.
• Processed highest monthly transactions 92.77 lakh amounting to Rs.34,287 Cr in Dec-20.
• Highest number of new SIPS registrations 4.30 lakhs on a single month in Dec-20.
• During FY 2020-21 (Apr – Dec-20) BSE StAR MF contributed Net Equity Inflow of Rs.14,365 Cr as compared to industry’s total of Rs. -21,293 Cr
• Contributed Net Equity Inflow during Q3 FY 2020-21 with a value of Rs.2,376 Cr as compared to industry’s total of Rs. -25,789 Cr
• Overall, the platform achieved 112 % of the transaction within 9 months which is 6.43 Cr. during FY 20-21(Apr- Dec) as compared to 5.75 Cr. transactions during FY 19-20.

BSE StAR MF’s Net Inflow Contribution to MF Industry in December 2020:

• Net Equity Inflow continues to be positive with value of Rs.973 Cr as compared to Rs. -10,147 Cr of Industry.
• Overall Net Inflows contribution was Rs. 6,397 Cr as compared to industry total of Rs. 2,967 Cr.

Other Key Performance Highlights are:

Turnover:

• In Dec-20, 107% growth with a value of Rs.34,287 Cr as compared to Rs.16,603 Cr on Dec-19
• In Dec-20, 47% growth with a value of Rs.34,287 Cr as compared to Rs.23,348 Cr on Nov-20
• During FY 20-21 (Apr – Dec) turnover was Rs.2,41,491 Cr and Annual Turnover during FY 19-20 was Rs.2,17,734 Cr

Transactions Processed:

• In Dec-20, 87% growth by processing 92.77 lakhs as compared to 49.56 lakhs in Dec-19
• In Dec-20, 25% growth by processing 92.77 lakhs as compared to 74.35 lakhs in Nov-19

SIP Book Size:

• Currently the total SIP book size is 66.54 lakh.
• For Dec ’20 the platform registered 4.23 lakh new SIPs amounting to Rs. 105 Cr.
• For Nov ’20 the platform registered 3.47 lakh new SIPs amounting to Rs. 87.32 Cr.

IFAs:

• Distributor count has exponentially increased to 68,853 as on Dec-20.

BSE StAR MF App:

• StAR MF Mobility has processed over 13.62 lakh transactions since its launch, amounting to Rs 8,553 Cr as on December 2020. The app was launched to help distributors and IFAs (Independent Financial Advisors) register clients on real-time basis and execute paperless transactions.