What is Consolidated Account Statement (CAS)?
Tracking your investments is one of the most important parts of reviewing and making financial decisions. To ease the process of tracking various investments, investors can avail themselves of a consolidated account statement (CAS). In this article, we will learn what CAS is and how you can obtain it.
Understanding Consolidated Account Statement (CAS)
A consolidated account statement (CAS) shows the holdings and transactions that have taken place in a single or multiple demat accounts held with the depositories CDSL or NSDL. The statement also shows the number of units of mutual fund schemes held by an investor in a statement of account (SOA) form. In other words, the CAS allows investors to track all transactions and investments in equity, bonds, or mutual funds across various demat accounts.
Investors are provided with the CAS on a monthly basis if a transaction is made during the month. If a transaction in any demat account did not occur during a month, the statement is sent half-yearly.
For example, if an individual purchases or redeems their investment during a month, they will receive the CAS for that month. However, if no transaction has been made, then the CAS will be sent to the client on a half-yearly basis.
How to Download the Consolidated Account Statement?
There are multiple ways in which investors can generate and download their CAS. One can log on to the websites of CDSL, NSDL, AMFI, or CAMS to download the statement. The process to download the CAS is easy and straightforward.
Let’s look at how you can download the CAS from the CDSL website.
Step 1: Visit the CDSL Website
Step 2: Click on Log In and select CAS/Declare Bonafide
Step 3: Enter your PAN number
Step 4: Enter your 16-digit demat account number
Step 5: Fill in your date of birth and click submit
Step 6: You will receive an OTP on your registered mobile number
Step 7: Once you receive the OTP, enter it and download the CAS.
What does a CAS show?
A CAS shows key information regarding the investor and the various holdings. Usually, a CAS contains the following information:
- Investor’s details such as the name, contact information, and address.
- Investment details such as the mutual fund scheme, NAV, current value of the investment, and number of units.
- Transaction details, including SIP contributions and redemptions.
- The period for which the statement has been generated.
- Bank and tax details like the bank name, account number, and PAN card number.
How is CAS Useful?
The consolidated account statement offers several benefits to an investor making it a useful tool in financial planning.
- The CAS consolidates all investor holdings in one statement, making it easy to track and monitor all the investments.
- An investor can get various details about the investments, such as the date of the transaction, the net asset value, or redemption details.
- Since a CAS provides details about multiple investments in one statement, it reduces the paperwork needed to track investments.
- Through the CAS, an investor can gain access to several important documents, such as transaction statements and redemption details.
- A CAS is also helpful in tax planning as an investor can easily get a detailed view of the investments made.
Limitations of CAS
Although the CAS offers multiple benefits, it also has a few limitations.
- The CAS cannot be generated for longer periods. It can provide details only for a maximum period of six months.
- A CAS can often be complex in situations where an investor has investments across various mutual fund schemes and asset classes.
- Since one has to provide details such as PAN and demat account number, there is a higher need to protect the sensitive information.
- The CAS is generated by the registrar and transfer agent (RTA). As a result, the prompt generation and accuracy of the statement are dependent on the RTA.
Computation of CAS
The CAS is generated by the RTA using data from an asset management company (AMC). In order to generate a CAS, the RTA compiles and consolidates the data from various AMCs and fund houses. Following the generation of the CAS, the statement is sent to the investor's registered email.
Conclusion
The CAS can be an incredibly useful tool for investors as they can track all their mutual fund investments and holdings in different demat accounts in one statement. The CAS reduces paperwork and makes it easy for investors to review their investments and help make sound financial decisions.
Happy Investing!
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