What is BSE StAR MF platform?
It is a browser based automated online order collection system which can be accessed through web from anywhere. One can invest, redeem and start a SIP through this platform. It can be accessed via PDAs, tabs, laptops or personal computer.
What is the eligibility criteria to get membership with BSE?
Corporate applicants need to have an ARN and a minimum paid up capital of Rs. 1 lakh. Individual applicants should have minimum tangible assets worth Rs. 1 lakh.
How much do I have to pay to enroll with BSE StAR MF platform?
You have to pay a lifetime membership fee of Rs.16854 (inclusive of service tax) to register with this platform. There will be no annual recurring fee.
Do my clients need to have a demat account?
Yes, your clients need to have a demat account to transact through this platform.
How many AMCs and schemes are available on this platform? Can my clients buy ETFs?
Currently over 2750 schemes of 34 AMCs are available on BSE StAR MF Platform. BSE StAR MF platform is an ordering routing mechanism. The orders are sent to R&Ts StAR MF Platform does not facilitate buying ETFs though your clients can buy ETFs through the same demat account.
Will there be a 3 pm deadline? Will the units be given only upon sighting of funds?
BSE StAR MF is available on all business days of the equity cash market segment. The BSE StAR MF is open between 9 a.m. and 3 p.m. The timings could be extended after if required by AMCs.
Can I transfer units?
Currently transfer of units is not available on the platform.
Is inter fund house switch possible?
No. Currently switching between fund houses is not possible. Switching between fund houses would be made available in the future. At present, only lump sum and SIP investments can be made on the platform.
Can I switch investments from one scheme to another?
This facility is currently not available on the platform. Investors first need to redeem one scheme and invest in another scheme after receiving the redemption proceeds.
How can I reconcile the brokerage?
RTA is involved in the settlement process. The commission will be paid by AMCs to the distributor directly.
Can my clients invest through this platform and redeem from AMC?
Investments done via BSE StAR MF platform can be directly
redeemed with RTA/AMC.
Can I view the transaction reports?
The reports of all the transactions done on BSE
StAR MF platform will be available for viewing and downloads. The downloaded
file can be uploaded in your back end systems.
Are direct plans available on this
platform?
Currently, direct plans are not available on BSE StAR MF platform.
Can I do bulk redemptions?
Yes, you can place bulk redemption requests via
bulk order upload facility.
Can clients get access to this platform?
Yes, distributors can share the log in details with their clients.
(Based on inputs given by BSE officials)
