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Mutual Fund Statement

We are all aware of the importance of KYC documents when opening a general bank account. Due to the nature of such documents, they are kept in complete confidence by the banking institution. Similarly, as an investor we seek to know all details regarding the performance of a particular monetary instrument. A monetary instrument such as a mutual fund has become a preferred choice among investors in the recent day and age.

Now let’s take a quick recap of what is a mutual fund - it is an investment fund that comes into existence by pooling together the money collected from many investors for the purpose of investing in securities such as stocks, bonds, money market instruments and other assets. This money is governed by a team of professional money managers who diversify/allocate the fund's investments and attempt to produce capital gains or profitable annual returns.

Just as an account statement that we receive on a monthly basis from our bank provides us transactional information, there is a mutual fund statement sent periodically to an investor which holds information on the performance of the fund, change in NAV, size of holdings, rate of dividend, etc. This statement is available to all investors from all fund houses and broking institutions via email as well as a physical statement or through smartphone applications.

In conclusion, a mutual fund statement is just like your bank account statement. It is a complete summary of your investments.

Consolidated Account Statements

As mentioned above that every mutual fund is managed by a fund manager, they are responsible to convey important information regarding the fund's performance to the various investors on the institution’s behalf. It is a part of their primary responsibility in addition to managing the fund. This information is in the form of a document called a Consolidated Account Statement. It was put into act by an amendment issued by SEBI (Securities & Exchange Board of India) that all mutual fund investors will be issued a Consolidated Account Statement (CAS). A single account statement that contains information relating to all your financial transactions of mutual funds which you have invested in or your entire portfolio. For ease of usage, it is synced to your Permanent Account Number (PAN) and can be availed for free. All investors receive their CAS on a monthly basis before the 10th.

Before this statement is issued, a few factors are taken into consideration during its preparation.

  • Any financial transactions which have taken place during a month
  • Identical holders and KYC compliant unit holders
  • Customer folio - which is your fund account number, this is also your reference number
  • Statement Date - The date on which the fund house issues the statement as requested by the investor. For the period states the period for which the statement is issued, say from 1st January 2017 to 31st December 2017

Why is CAS Important to Mutual Fund Investors?

  • Consolidated Account Statement provides information regarding the financial health and condition of a company. Based on this information, an investor can decide to choose a fund house or company. It also tells you a lot about the company’s standing in the financial market which is a great insight for both investors and vendors

  • Reduces Paperwork - Paperwork involves in this process is minimal as a single report contains all the financial data at one place

  • Keeps investors informed about the overall performance of the company

How to get Mutual Fund Consolidated Account Statement online?

CAS is issued by individual Asset Management Companies (AMCs), this facility can be availed online through the help of CAMS online portal. Simply visit this website and select the option of ‘Investor Services’ from the top. Following this, select ‘Mailback Services’ and you get an option to send a ‘Consolidated Account Statement’ across your holdings in CAMS, Karvy, FTAMIL and SBFS via email. This can only be accessed via a registered email address which was provided during the time of opening an account with a particular fund house. You will be requested to create a password which will grant access to the email statement. Additionally, you also have an option of requesting for a single folio statement instead of ‘Consolidated Account Statement’.

Simply put, the entire process can be traced to the below steps:

  • Step 1 - Visit

  • Step 2 - Click on the option ‘Investor Services’

  • Step 3 - Select CAS- CAMS, Karvy, FT or SBFS

  • Step 4 - Login with your email id and PAN number

  • Step 5 - Create a password and ‘submit’

How do AMCs compute consolidated Account Statements?

Asset Management Companies (AMCs) compute CAS on the basis of transactions and holdings of an investor’s demat account held by NSDL and CDSL. A demat account holds all the shares that you buy in dematerialized or an electronic form. Similar to a bank account that holds cash, a demat account holds the certificates of your financial instruments such as shares, bonds, government securities, mutual funds and exchange traded funds (ETFs). NSDL and CDSL are both depositories which hold various securities like money, property, etc. in an electronic form. NSDL works for National Stock Exchange, whereas CDSL works for Bombay Stock Exchange.

The NSDL CAS provides details of transactions and holdings across various demat accounts as well as mutual funds. It also includes equities, preference shares, warrants and mutual fund units held in electronic form. Certain platforms like Cams, Karvy, SBFS and FTAMIL also let an investor to access consolidated view of their holdings via a single PAN with an option to receive the statement in email.

What are the contents of a Mutual Fund Statement?

A CAS includes all information about a mutual fund and AMCs such as:

  • Financial purchases and transaction related information like switching or merging of funds, dividend or bonus payments
  • Details regarding reinvestment options or New Fund Offer (NFO)
  • Type of investment - whether lump sum or a Systematic Investment Plan, Systematic Withdrawal Plan or Systematic Transfer Plan
  • Closing and opening share unit portfolio balance
  • Mode of holding units
  • ISIN and UCC for each scheme and portfolio

The (ISIN) International Securities Identification Number is a 12-character alphanumeric code that uniquely identifies an equity, debt or other securities. It serves the purpose of uniform identification of securities for their trading and settlement in the market.

Non transactional information such as bank account details, PAN, nominee registration and KYC updation are not a part of the statement as it is categorised as investor’s sensitive information.

Disadvantage of Consolidated Account Statements?

Since the account statement comprises of all information with respect to a company's asset & liabilities, the established AMCs can hide important information regarding the profit and loss or any other unfavorable information it does not wish to disclose to the investors.

FAQs on Mutual Fund Statement

How to check mutual fund status with folio number?

To check your mutual fund status, keep your folio number ready. A folio number is given when a mutual fund scheme is purchase. This folio number is required to find out the value of your investment. Simply login to the AMCs portal and quote your folio number to know all details about your investment

How to track mutual funds with a PAN card?

Simply visit the website of a AMCs and select the option of getting a Statement of Account to your email ID registered with them via PAN. Certain platforms like Cams, Karvy, SBFS and FTAMIL also let an investor to access consolidated view of their holdings via a single PAN with an option to receive the statement in email.

What is a folio number?

Like a bank account number, it is a unique number to identify your holdings with the respective mutual fund. The unique number differs from one fund house to another fund house. Only an existing investor is deemed to have a folio number, not the new ones.

When does an investor get an account statement after investing in a mutual fund?

All investors receive their Consolidated Account Statement on a monthly basis before the 10th.