Mumbai: Leading bourse BSE 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 which would be invested in liquid mutual funds for better returns and relatively lower risk, it said.
Members should take consent from clients and open a liquid fund account and transact through the BSE StAR MF platform. This will result in returns to investors as well as additional service for member brokers, the release said.
After launching non-demat transactions on its BSE Mutual Fund platform, the BSE plans to introduce an order entry functionality to allow MFI/MFDs to place purchase and redemption orders simultaneously in liquid schemes.
The facility will be available only for non-demat mode. Bulk order upload facility would be available to MFIs/MFDs from today for the Overnight (Liquid Fund) product, BSE said.
