BSE StAR MF, an initiative by BSE, launched ‘Corp Direct – A Direct Investment Portal for Corporates’. The BSE StAR MF is a B-to-B platform where the distributor can onboard their clients and make transactions efficiently. Through this, the oldest stock exchange in Asia is providing end-to-end value-based services to AMCs, distributors, investors, and MF industry participants. With added features, the portal is currently available for corporates and soon will become accessible to non-individuals like HUF, Partnership Firms, and Societies.
Some key features of StAR MF Corp Direct are: End to End Digital Web Module, Corporate Parent-Child Entity Concept, single platform for all AMCs and Schemes, SMS & Email Confirmation & approval process, a single click for multiple transactions, multiple payment options are available for the corporates, already transacting Corporates (in any of the AMC/RTA platform) can now onboard quickly, customized connectivity features and value-added services like Corporate Dashboard View, Transaction basket, and Pre-filled transaction form.
Ganesh Ram, Business Head-Mutual Funds, BSE, commented on the launch that the decision of the market regulator to allow exchanges to process mutual fund investments directly from investors had reiterated and created a level playing field. This inspired the development of StAR MF Corp Direct Portal. Transactions with all AMCs and Schemes have now become smooth with the introduction of Corp Direct. The portal would significantly improve the existing experience of corporates. Switching between multiple platforms was cumbersome, but now multiple transactions are done with a single click. He also added that the portal would simplify the MF Investment process for corporates and would aid in boosting their efficiency.
For the month of October, BSE StAR MF processed 76.74 lakh transactions amounting to Rs. 22,905 crore. As compared to FY 19-20, it contributed a net equity inflow of Rs. 2,808 crore in FY 20-21 against Rs. -7,214 crore. For the current fiscal year, turnover is at Rs. 1,83,855 crore from April to October. The platform achieved 83% of transactions within seven months of the fiscal year to 4.76 crores. For FY 19-20, it was 5.75 crore. BSE StAR MF saw a multifold increase in distributor count to 68,629 members as of date.
