Consolidated Account Statement or CAS is a single account statement which consists of all the financial holdings and transactions in an investor’s portfolios.
Let's get into more details on a Mutual funds Consolidated Account Statement.
In nutshell, it allows the user to manage their portfolio in a smarter way. CAS also helps to analyse their portfolio and many other numerous other benefits as well.
The CAS is issued after an amendment was done in the SEBI Regulations in 2014. It was decided that one record will be maintained for all the financial assets of each and every individual.
So, CAS was introduced to allow a consolidated view of an investor’s investments in securities held with the Statement of Account (SOA) form with Mutual Fund (MF) and demat form with the Depositories.
According to the SEBI guidelines, any investor who performs a transaction in any of their demat account or mutual fund folios will receive a CAS. The CAS is sent either on or before the 10th day of the next month.
It will contain the details of all the transactions and holdings along with transaction fees of the distributor, across every scheme of all mutual funds.
However, if no transaction has occurred in any of the demat account or the mutual funds in any month of the year then CAS is sent to the investor in 6 months. For example, the investor will receive CAS with holdings as on March and September end in the succeeding month, i.e., April and October.
According to the amendments to SEBI regulations, the common investors are identified by the asset management company on the basis of Permanent Account Number (PAN).
For multiple holding, the PAN of the first holder and the type of holding forms the basis for considering and consolidating to issue CAS. The portfolios that satisfy any one of the below listings will be considered while issuing CAS:
The monthly CAS will only include your active portfolios. So, it will have data on only those portfolios where you did an active transaction in last month. It means that it will incorporate only those portfolios in which some financial transaction has occurred during the given month. The portfolios must also furnish valid PAN numbers for all its unit holders.
Let us say, you have four portfolios but you transact in three of them in one month. The monthly CAS will include only the three active portfolios and the fourth one in which no transaction has occurred, will not be reflected in the monthly CAS.
The CAS includes all categories of financial transactions such as:
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