Let's get into more details on a Mutual funds Consolidated Account Statement.

Mutual funds Consolidated Account Statements: Importance

1. This statement provides a consolidated view of an investor’s financial assets.

2. Mutual fund statement aids in better understanding of the portfolio across different asset classes.

3. It enables enhanced investor experience and benefits him/her to make better decisions, and simplifies the monitoring process.

4. It allows the user to manage their portfolio in a finer way.

5. It helps to analyse investor's portfolio and many other features are also offered.

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.

Why CAS (Consolidated account statement?

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.

When will you receive the Consolidated Account Statement or CAS?

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.

Basis for consideration of portfolios for CAS:

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:

1. Identical holders

2. Financial transactions in a month

3. All unit holders who are KYC compliant

Which of my portfolios will be incorporated in the monthly 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.

Financial transactions reflected in CAS

The CAS includes all categories of financial transactions such as:

1. Redemption including maturity.

2. Purchases including NFOs, switches, dividend payouts or re-investments.

3. Bonus transactions or merger.

4. Systematic transactions like STP, SWP, SIP etc.

Is there anything you wish to add upon to this information? Feel free to share your feedback or any updated info on the same.