BSE StAR MF is the largest MF distribution platform in India. In 2017, the platform processed 1.3 crore transactions worth over Rs 1 lakh crore.
Sundaram Mutual Fund has been suspended from trading on BSE StAR MF, an online mutual fund portal of Bombay Stock Exchange, industry sources told Moneycontrol.
“Sundaram MF didn’t agree with our transaction fee agreement so we had to suspend them but talks are on and they should resume on the platform,” said Omkeshwar Singh, Head - Mutual Funds, BSE.
A Sundaram MF spokesperson refused to reveal much information and said, “Will be reinstated in a day or two.”
From December 1, 2016, transaction charges are levied on all orders routed through BSE Star MF. The charge varies from Rs 6 to Rs 30. The platform provides a range of services for easy transactions and seamless order flow for asset management companies (AMCs).
BSE StAR MF is the largest MF distribution platform in India. In 2017, the platform processed 1.3 crore transactions worth over Rs 1 lakh crore. It added over 1.25 lakh new SIPs in December alone.
BSE StAR MF witnessed an overall growth of over 565 percent, and in terms of SIPs the platform has seen a growth of over 800 percent over last 2 years.
The BSE StAR MF exchange infrastructure predominately caters to the retail portion of the mutual fund industry, which accounts for 99.73 percent of all transactions and over 76 percent of the value of all transactions.The platform now has more than 200,000 IFAs, brokers, broker branches and associates on its network spanning 3,000 cities and towns across India. Almost all the top distributors of mutual funds are part of BSE StAR MF now.