MF Orders Via Exchange Platforms Double to 19 Lakh

New Delhi: The number of mutual fund orders placed through the stock exchange platforms has more than doubled to over 19 lakh in 2014-15, primarily on the back of an increased appetite among investors.

Trading platforms - BSE Star MF and NSE MFSS - have collectively witnessed an increase in orders at 19,66,901 in 2014-15 from 8,19,388 in the preceding financial year.

The total orders on the BSE platform have risen to 15.91 lakh in the past financial year from 5.84 lakh in 2013-14, while the number of orders on the NSE platform have grown to 3.75 lakh from 2.35 lakh, as per latest data.

This has also helped the industry to increase its mutual fund assets base by 31 per cent to nearly Rs 12 lakh crore in last fiscal, which ended on March 31.

Market analysts attributed the rise in number of mutual fund orders routed through the stock exchange platforms to increased appetite for equities among investors.

BSE Star MF and NSE MFSS are web-based transaction processing, fully-automated online MF collection and settlement systems. In order to transact on these platforms, an investor needs to open a demat account.

The stock exchange platforms for mutual fund schemes were launched in order to make it easier for investors to purchase and sell MF units on the bourse.