Leading stock exchange BSE today said 37 asset management companies (AMCs) have agreed to pay a service charge per transaction for using its platform.
This will allow the exchange some additional resources to provide better services to mutual funds industry and investors. Besides, it will bring further automation to the mutual fund industry and investment culture in the country.
Last month, the exchange had said 26 AMCs have agreed to pay fee to the bourse for the services being provided through its mutual fund platform.
BSE StAR MF platform has become the largest mutual fund distribution infrastructure with more than 20 per cent of market share. It processed over 1.75 crore transactions amounting to Rs 1,18,112 crore in last fiscal.
The platform predominately caters to retail category of mutual funds industry with 99.73 per cent in terms of transactions and over 76 per cent in terms of value.
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