BSE StAR MF created SIP STORM in Indian Mutual Funds Industry

India’s largest and most acceptable digital Infrastructure, BSE StAR MF on October 10, 2018 recorded 11,111 SIP in a single day by Swastika Investmart Ltd. Mutual funds Distributors leveraging BSE StAR MF have created progressively and frequently creating records for SIP registration in a single day. Started with 301 SIP registrations in a single day couple of months back by BSE StAR MF Distributor, Progressively multi records were made by different BSE StAR MF Distributors and yesterday recorded 11,111 SIP in a single day by Swastika Invest mart Ltd.

Speaking on this occasion Sunil Nyati, Managing Director, Swastika Investmart Ltd said “It was a financial awareness programme that we were driving across the nation from our 90 offices Pan India. In most of the developed nations, investment in Mutual Fund is more than 50% of their respective GDPs, whereas in India, we are still less than 10%. With our 11,111 logins in a single day on 10th Oct 2018, we got a lot of new investors in mutual funds. We did more than 50 Investor Awareness Programmes nationwide and I would like to congratulate as well as thank my entire team and BSE Star MF, for the great initiative, cracking the mountainous target and creating a new benchmark in the industry. The Swastika team is totally boosted up now and we will continue to inspire more and more people to invest in Mutual Funds.”

Ashishkumar Chauhan, MD & CEO, BSE said “After witnessing this milestone, all AMCs will also whole heartedly work with BSE Star MF to reduce their distribution cost and automate the distribution processes. It is estimated that each mutual fund order placed on BSE StAR MF saves mutual fund industry more than Rs 300/- per transaction.”


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