BSE to charge all funds houses using StAR MF Platform

With an aim to better serve the mutual fund industry, BSE has manage to convince all 37 mutual fund companies to pay a service charge for availing the benefits of its platform. 

The additional resources generated from this nominal service charge will be employed to improve services to the asset management companies (AMCs) and boost the culture of digital investment in the country. 

Earlier in March, 26 AMCs had agreed to pay service charge on bilateral basis, with this development all 37 AMCs which account for almost all of the assets managed by the mutual fund industry have agreed to pay for the services provided by the platform. 

BSE StAR MF platform which predominately caters to the retail investors is also the largest digital infrastructure for MF distribution in India with more than 20 per cent market share. 

In FY17-18, BSE StAR MF processed over 1.75 crore new subscription amounting to Rs. 1,18,112 crore. On a monthly basis, the platform processed close to 24 lakh transaction per month as of March 2018. 

On Wednesday, at 10:43 hours, the stock of BSE Limited was trading at Rs. 816.40 per share, down by 0.48 per cent. While the benchmark index BSE Sensex was at 33,844.06, down by 36.19 points or 0.11 per cent.