Mutual funds distributor platform BSE StAR MF registered a net inflow of Rs 370 crore in equity schemes in November, the exchange has said.
In contrast, the mutual fund (MF) industry witnessed a net withdrawal of Rs 1,2,917 crore from equity-oriented schemes during the same month, the exchange said in a release on Tuesday.
In the preceding month, net inflows in equity schemes were Rs 1,033 crore.
The platform recorded 74.35 lakh transactions in November 2020.
For the period under review, the turnover stood at Rs 23,348 crore, a jump of 70 per cent over the corresponding month last year when the turnover was Rs 13,722 crore.
The platform recorded 3.47 lakh new systematic investment plans (SIPs), amounting to Rs 87.32 crore last month, the exchange said.
Currently, its total SIP book size stands at over 60.38 lakh.
BSE StAR MF App (StAR MF Mobility) has processed over 12.39 lakh transactions since its launch in May 2019, amounting to Rs 7,605 crore.
The app was launched to help distributors and independent financial advisors, register clients on a real-time basis and execute paperless transactions.
Credit: Stocks-Markets-Economic Times