BSE introduces overnight investment product
19 May 2015
The Bombay Stock Exchange (BSE) on Monday announced the introduction of an `Overnight Liquid Fund' product on the exchange's mutual fund platform, BSE StAR MF. The product will help the smallest investor, corporate or trust to invest even for a single night in liquid funds anywhere in India, said a BSE release.
It will be an alternative investment avenue for idle monies by investing in MF liquid schemes for better returns and relatively lower risk. Members should take consent from clients and open a liquid fund account and transact through BSE StAR MF platform, and instead of keeping idle monies. This will result in returns to investors as well as additional service for member brokers.
Further to the launch of non-demat transactions on BSE Mutual Fund Platform, the exchange is now introducing an order entry functionality which will allow MFI/MFD to place purchase and redemption orders simultaneously in liquid schemes. This facility would be available only for non-demat mode. The bulk order upload facility is made available to MFIs/MFDs with effect from Monday, 18 May 2015 for Overnight (Liquid Fund) product, BSE said.