SEBI guidelines stipulate that the Asset Management Company (AMC) should issue Consolidated Mutual Fund Account Statement (CAS) for each calendar month on or before the tenth day of the succeeding month. CAS should contain details related to all the transactions and holdings at the end of the month for all mutual fund schemes. Let’s find out in detail what CAS is and how to use it.
What is Mutual Fund Consolidated Account Statement?
The Consolidated Account Statement (CAS) is an account statement that consolidates all your investments in every Mutual fund into a single statement.
CAS is issued for those folios that fulfil the following requirement -
There is a financial transaction for the folio during the month.
- Folio holder is unique (Valid PAN for all the unit holders)
- Folio holder is KYC compliant.
Example: Let’s say an investor holds 5 folios and does the financial transaction in only 3 of them in a month; the CAS will contain details of only 3 folios. Rest two folios will be ignored for the month. For folios with no financial transaction for six months, CAS will detail the holding at the end of six months (September and March).
If you hold units in demat format, CAS will not include their detail and you should refer to the demat account statement to get the details.
The CAS will include the folios and transactions of the Funds participating in this initiative. Folios of non-participating Mutual Funds will not be included.
What CAS contains?
CAS details following types of financial transactions:
- Purchase transactions
- Redemption transaction
- Transactions involving SIP, SWP and STP
- Transactions involving Switch of plans
- Transactions involving Dividend/ Reinvestments
- Merger/Bonus transactions
CAS also contains following details apart from financial transactions
- ISIN and UCC of folio
- Mode of holding
- Registered email
- KYC status
- Nominee registration status
- Opening and closing unit balance for every folio
How to get CAS?
CAS is delivered by post or at the registered email id. In order to receive CAS, investors should keep their address and email id updated with the AMC. You can also get CAS via email by visiting KARVY website or CAMS website. Please visit the links below for KARVY and CAMS:
The investor will also get regular fund specific account statements electronically after each financial transaction within 5 working days from the AMC.
In case of Discrepancy
Mutual fund investors should approach AMC or the registrar (KARVY, CAMS) to report discrepancies in financial transactions or folio details printed in CAS. But, before approaching for clarification, investors should look into the following:
- Determine if financial transaction was there for the missing folio (No transaction means exclusion from CAS).
- PAN details are correct for unit holders