BSE StAR MF achieves positive net equity inflow in July; launches StAR MF Corp Direct

BSE StAR MF contributed Rs 653 crore as net equity inflow whereas, the industry experienced a net outflow of Rs 2,480 crore.

As for the month of June 2020, BSE StAR MF contributed a net equity inflow of Rs 1,882 crore to the industry's net equity inflow of Rs 241 crore.

Most equity mutual fund categories had witnessed net outflows in July as investors continued to sell their investments, which is possibly due to their precarious financial position or the current uncertain economic scenario amid the raging COVID-19 pandemic.

BSE also announced that its mutual fund distribution platform StAR MF launched a direct investment portal for corporates to further simplify the investment process. The portal, which is named as StAR MF Corp Direct, will also provide end-to-end value-based services to the asset management companies (AMCs), distributors, investors, and mutual fund industry participants. Thus, it will significantly reduce the time for the MF investment process and increase efficiency for corporates.

As the portal provides value-added services such as corporate dashboard view, transaction basket, pre-filled transaction form to corporate, corporates can seamlessly transact in both the direct mode as well as regular mode with all AMCs and schemes at one go, using Corp Direct instead of switching between multiple platforms, which is much longer and in fact, time-consuming process.

While the portal currently is available for the corporates, it will also be made available for non-individuals like Hindu undivided family (HUF), partnership firms, and other societies as well very soon.

Overall, the platform processed 2.54 crore transactions during the period of April-July 2020.