Leading stock exchange BSE on Tuesday said its mutual fund distribution platform --StAR MF -- has simplified its segment for distributors and independent financial advisors with the launch of four new services.
Those services are auto empanelment, distributors' brokerage services, StAR MF mobility app and independent financial advisors (IFA) portfolio services.
"All these services will go a long way in strengthening the mobilisation of domestic funds flowing into the capital markets. These services are clear indicative of BSE's vision to move away from being a traditional transactional-based platform to an exceptional one with value-added services.
"We are confident of touching a milestone of 50 lakh transactions/month and 10 lakh transactions/day very soon, specifically with these value-added services," BSE StAR MF Head Ganesh Ram said in a statement.
Explaining auto empanelment, the BSE said it is a seamless service between the BSE and mutual fund houses, which saves time and effort of IFAs and makes empanelment process simpler.
In the distributors' brokerage services, the BSE will compute, collect and distribute commission to distributors for all BSE StAR MF transactions..
Regarding IFA Portfolio Services, StAR MF will provide back office platform to IFAs. With this additional service, IFAs now can track different business dashboard, client portfolio report/holding statements and more.
StAR MF mobility App, which was launched in May for android users, is now made available on iOS with additional features.
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