The Most Authentic Guide on Personal Finance and Investments

Words of Wisdom : "The man who does not read books, has no advantage over the man who cannot read them." ~ Mark Twain

Mutual Fund Consolidated Account Statement - A Primer

If you are a mutual fund investor, you are entitled to receive

-- On a monthly basis (before the 10th of every month), a Consolidated Account Statement (CAS) for all mutual fund transactions during the previous month across all schemes and all Asset Management Companies (AMCs)

-- On six-monthly basis (in April and October), a Consolidated Account Statement for all your mutual fund holdings (including those where there may have been no transactions).

However, for such consolidation it is necessary that
- you should have registered a common email ID across all your holdings 
- the folios should have identical holders (identified by the PAN No.) and
- all unit holders should be KYC compliant

CAS will 
- include details of all financial transactions such as purchase, redemption, switch, SIP, dividend, etc. and certain non-financial information such as registered email ID, etc.
- NOT include non-financial transactions such as change of address, bank details, etc.
- NOT include sensitive information such as bank account details, PAN No., etc.

By the way, CAS will not cover 
a) demat transaction e.g. in case of Gold ETFs (you would have to check your demat account statement for the same).
b) folios of minors.

This CAS is apart from the statements sent by the individual AMCs on opening a new folio and after each transaction.

For discrepancies, if any, you may get in touch with the AMC or the RTA concerned.

If, in the interim, you want a statement, you can ask for one... electronic, not physical copy.  As you may be aware, Registrars and Transfer Agents (RTA) maintain all the records on behalf of the AMCs. Almost all AMCs are registered with either CAMS or Karvy (a few AMCs such as Franklin Templeton, Sundaram, Escorts and BNP Paribas maintain the records on their own).

All you have to do is to use the services offered on CAMS or Karvy's website. Just type in your registered email ID and the CAS will be emailed to you within an hour. (Though you would also need to fill in a password, but that is only for the purpose of opening the CAS when you receive one.) To make things simple, you can ask for a single statement from CAMS+Karvy+FTAMIL.

You Learn A Lot By READING... And Even More By SHARING.

Share Button

Ignorance is like a SIGNED BLANK CHEQUE... anyone can MISUSE it.

Subscribe via Email
Books by Sanjay Matai
[Click on the Pic for more info on my books.]
Powered by Blogger.

MUST READ Posts - Sep'18

a. Inflation, Interest Rate and Raghuram Rajan's Dosa Economics
Inflation and Interest Rate Link
Is inflation 'rapidly' squeezing the purchasing power of your money?


b. Term Plan Lump-sum Vs Staggered Payout: And The Winner Is...
Term Plan Payout Lumpsum or Staggered
The fight between Lump-sum and Staggered Payout on Term Plans is one-sided.


c. How Health Insurance equals Wealth Insurance
Health Wealth Insurance
Is your wealth properly secured against the risk of health issues?