How to View a Consolidated Account Statement of Mutual Fund Holdings?
A Consolidated Account Statement or CAS provides all the information of an investor’s mutual fund holdings at a single platform in a systematic manner. It highlights the investments in mutual funds under a Permanent Account Number (PAN). You can ask for a soft copy and a hard copy of your CAS once a month for free. For investors, it’s a vital document as it keeps every detail related to the purchase, sale and other deals.
This blog provides a complete overview of CAS, how to generate it and its benefits and importance. Keep reading!
Benefits of Consolidated Account Statement
A Consolidated Account Statement has the following benefits:
1. Records Dividends and Redemptions
Consolidated Account Statement tracks the dividends obtained from the mutual fund schemes and the redemptions initiated from the schemes.
2. Tracking Details
This document ensures that an investor’s mutual fund investments are accurately mapped to his/her bank account details, PAN and name. Besides, it checks whether he/she has been specified as FATCA (Foreign Account Tax Compliance Act) compliant. FATCA compliance denotes a process determining an individual’s tax residency (NRI or Indian).
3. Helps Calculate Taxes
It records an investor’s transactions, facilitating tax liability computation. An individual can submit a tax-saving mutual fund investment proof and the CAS to his/her employer for enabling the required TDS deduction.
4. Evaluates Performance
You may use a mutual fund account statement to examine the overall performance of your schemes and to understand when these schemes turn into long-term investments (usually for tax implications on capital gains). Debt fund investments turn long-term post 3 years, while equity fund investments turn long-term post 1 year.
How to Generate a Consolidated Account Statement?
A Consolidated Account Statement lists an investor’s mutual fund transactions during a particular tenure and offers data such as market value, NAV (Net Asset Value) and NAV date. Follow the pointers below to generate this document:
- Visit the official website of CAMS and select ‘Investor Services’.
2. Choose CAS-CAMS, Karvy, FT, SBFS.
3. Select the statement type, folio listing, furnish the date, PAN details and email ID.
4. Provide a suitable password for the account. Keep in mind that this password needs to be the one you use in your mutual fund account.
Once you complete this procedure, you’ll receive an email from CAMS. It’ll generate a PDF file (password-protected). You can open the account statement using your password. You can avail this service for free.
Details Shown in a CAS
The following are the primary contents of a CAS:
1. Personal Details
Name, address, mobile number, email ID, etc.
2. Investment Details
Name of the mutual fund, folio number, investment type, name of the registrar, transaction type, investment amount, price, unit, unit balance, ISIN, UCC, and others.
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Why is CAS Important for Mutual Fund Investors?
Given below are the details showing why a CAS is important for mutual fund investors:
- Through monthly records of transactions, a CAS informs investors to be aware of any unauthorised transactions. In case you detect any, inform your regulator as soon as you can.
- A CAS reflects the overall performance of a company by cutting off all subsidiaries.
- Through a Consolidated Account Statement, an investor understands the financial health of a fund house or a company whose stocks they have invested in. In other words, people can make important decisions based on details on the CAS.
- Considering that a single document contains every important financial information, heavy and lengthy paperwork is not required anymore.
- Investors can receive the account statement delivered to their email ID any time they want to view all their mutual fund investments in one place.
Who Issues Consolidated Account Statement?
The two depositories of the country CSDL (Central Depository Services Limited) and the NSDL (National Securities Depository Limited) are responsible for issuing Consolidated Account Statement to investors. The Consolidated Account Statement includes comprehensive data about mutual funds, PMS schemes, non-convertible debentures, equities and various other investments. You will get a CAS only if you possess a Demat account and carry out a transaction.
The depositories will use your PAN information to track all the investments that you have made and then generate CAS. However, if there isn’t any common PAN between the depositories and RTAs, you may seek a CAS from the mutual fund house.
Final Word
To sum up, a Consolidated Account Statement (CAS) contains important information which helps investors understand the financial health of a fund house and a particular fund. It helps them track their transactions, evaluate fund performance and calculate taxes. Checking CAS regularly would be immensely beneficial if you are a mutual fund investor.
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FAQs
Ans: Yes, a half-yearly CAS records all the fees and charges of the mutual fund distributors, as mandated by SEBI. It specifies expenses that distributors incur such as operating costs and service tax and payments by way of rewards, gifts, trips, events/sponsorships. Further, it includes the average expense ratio for the relevant plan of each mutual fund scheme (direct or regular).
Ans: The two depositories, namely CDSL (Central Depository Services (India) Limited) and NSDL (National Securities Depository Limited), issue Consolidated Account Statements. When you have got a dematerialised account and transact, CDSL or NSDL will provide you with a CAS for the given month.
Ans: Yes, a Consolidated Account Statement covers PMS (Portfolio Management Services) schemes and non-convertible debentures as well. However, a CAS will only record and display those investments in which you’re a first account holder. It will collate such investments through your PAN.
Ans: If your mutual fund portfolio highlights any activity or you’ve sold and bought shares in a particular month, then you will receive a CAS in the succeeding month. When you do not transact each and every month, you’ll receive a Consolidated Account Statement every 6 months.
Ans: Yes, you can get a CAS for mutual funds without having a Demat account. You need to sign in to the portal of any transfer agent, namely KFintech or CAMS, and download the Consolidated Account Statement. Here, you may avail a summary or a detailed statement.
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Disclaimer: Mutual Fund investments are subject to market risks, read all scheme-related documents carefully.
This article has been prepared on the basis of internal data, publicly available information and other sources believed to be reliable. The information contained in this article is for general purposes only and not a complete disclosure of every material fact. It should not be construed as investment advice to any party. The article does not warrant the completeness or accuracy of the information and disclaims all liabilities, losses and damages arising out of the use of this information. Readers shall be fully liable/responsible for any decision taken on the basis of this article.
