Consolidated Account Statement: Meaning, Benefits, Steps To Generate & Limitation

Mutual funds

If you are investing in mutual funds, you can learn about your funds’ performance through the Consolidated Account Statement. It is generated by the depositories every month and is mailed to investors within the 10th day of the next month.

This article discusses what is a consolidated account statement (CAS), its benefits, how to generate it, limitations and more. Read on! 

What is A Consolidated Account Statement?

A CAS (Consolidated Account Statement) 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 helps the investors to keep track of their scheme’s performance. 

Benefits of Consolidated Account Statement 

A Consolidated Account Statement has the following benefits:

• Records Dividends and Redemptions

Consolidated Account Statement tracks the dividends obtained from the mutual fund schemes and the redemptions initiated from the schemes. 

• 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 a FATCA compliant. FATCA compliance denotes a process determining an individual’s tax residency (NRI or Indian). 

• 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. 

• 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.   

Also Read: Taxation In Mutual Funds

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’.
• Choose CAS-CAMS, Karvy, FT, SBFS.
• Select the statement type, folio listing, furnish the date, PAN details and email ID.
• 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.    

Who Issues Consolidated Account Statement?

The two depositories of the country CSDL and the NSDL 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. 

What’s Inside a CAS? 

The following are the primary contents of a CAS:

• Personal details: Name, address, mobile number, email ID, etc.
• 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.

Limitations of a CAS 

The Consolidated Account Statement that an AMC issues usually provides a comprehensive picture of its assets, liabilities and its income. This often gives the AMCs a chance to hide their losses or profits. The primary reason behind this is that the AMCs tend to provide consolidated data and curtail inter-branch transactions.

Also Read: What Is Expense Ratio In Mutual Funds And How Is It Calculated?

Final Word

A Consolidated Account Statement is an investment statement across direct equity, bonds and mutual funds. It provides information of your mutual funds in both SOA (Statement of Account) format and in digital format. If you are into investing, make sure to check your CAS regularly.

FAQs on Consolidated Account Statement

1. Does a CAS record mutual fund fees?

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).

2. Who issues a CAS?

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.

3. Does a CAS cover PMS schemes?

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. 

4. Can I avail a CAS once a month?

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. 

5. I haven’t opted for a Demat account, but I invest in mutual funds. Can I still get a CAS?

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. 

Before you go…

Want to put your savings into action and kick-start your investment journey 💸 But don’t have time to do research? Invest now with Navi Nifty 50 Index Fund, sit back, and earn from the top 50 companies.

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.