BSE introduces SIP pause facility on its MF distribution platform

Leading stock exchange BSE said its mutual fund distribution platform BSE StAR MF reached a new milestone by processing over 11.58 lakh transactions.
Leading stock exchange BSE , Mutual fund distribution platform BSE StAR MF

New Delhi, Jun 1 (PTI) In the wake of the COVID-19 pandemic and the ongoing lockdown, the BSE on Monday said it has introduced the SIP pause facility on its mutual fund distribution platform.

The option will allow members to pause their clients’ systematic investment plans (SIPs) for a certain period and then continue with their SIPs after the pause period, the exchange said in a notice.

Pause registrations under this facility will be accepted as per the terms and conditions laid down by respective asset management companies (AMCs), it added.

During the lockdown situation, investors are rethinking their investment decisions, resulting in either redemption, discontinuation or pausing of their ongoing SIP, the BSE said.

“Based on the demand of the investors and members, the Exchange is pleased to announce the introduction of SIP pause facility on the BSE StAR MF Platform,” it said.

Currently, the pause facility is available in eligible schemes of nine AMCs — Nippon India Mutual Fund, L&T Mutual Fund, Edelweiss Mutual Fund, BOI AXA Mutual Fund, Essel Mutual Fund, DSP Mutual Fund, Aditya Birla Sun Life Mutual Fund, HDFC Mutual Fund and Mahindra Mutual Fund.

Source: PTI

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