What Is Consolidated Account Statement?

As an investor in mutual funds, it is of vital mportance for you to know how your fund is performing. In a move to help investors handle mutual fund information easily, the Securities & Exchange Board of India (SEBI)  made an amendment for all mutual fund investors to obtain a Consolidated Account Statement (CAS).

The Consolidated Account Statement (CAS) as the name suggests is a statement that consists of all the mutual fund holdings of the person which he might have invested over multiple mutual fund houses, over a given period of time. This gives you vital information pertaining to your funds like the Net Asset Value (NAV), NAV date, market value,

Also read: SEBI: Everything an Investor Should Know

The whole purpose of CAS is to keep the investor informed about the performance of the Mutual Fund in which they have invested their money.

How To Generate CAS Online?

Go to www.camsonline.com

Step 1: Click on ” Investor Services” from the menu bar, and select ” Mailback Services” from the menu on the left.

Step 1 to download Consolidated Account Statement

Step 2: Click on ‘Consolidated Account Statement – CAMS+Karvy+FTAMIL+SBFS’

Steps to download consolidated account statement -Step 2

Step 3: Provide details regarding registered email address and a password ( The password is not necessarily your email ID’s password, its purpose is just to open the encrypted Consolidated Account Statement, CAMS will be sending you). Also, specify the statement time and the time period for which you want to know the nature of your holdings. After that, click on “Submit”

Downloading CAS step 3

 

By clicking on Submit, you will get the statement from CAMS on your registered email ID, within an hour. To open and view your statement use the password you provided.

You can also download CAS free of cost from other platforms like Karvy, Franklin Templeton, Sundaram BNP Paribas etc.

Also read: Advantages and Disadvantages of Mutual Funds in India

What Are The Benefits Of CAS?

Here are a few good reasons why you should have your consolidated account statement with you:-

1. Helps In Fund’s Performance Review

You can use CAS to review your mutual fund portfolio to check whether the funds you have invested in is providing you beneficial returns and whether you should continue to stay invested with a particular equity stock or debt fund.

It can also give you some idea of whether the investment avenue is beneficial in the long run.

2. Reduces Paperwork

CAS is a one-stop-shop for all your financial investment’s data, this helps in reducing paperwork as you can monitor your portfolio under one report.

3. Helps You Understand Your Tax Liability

CAS provides you with detailed information about your transactions which can be used to identify your tax liability. CAS can be used to avail tax deduction along with a tax-saving investment proof.

Also read: Master Tax Saving with ELSS Mutual Funds

What Details Does CAS Show?

If you are looking to confirm whether your credentials like name and contact number details are correctly entered this is where you can check it.

Apart from basic information it also contains details such as holding units, unique client code and International Securities Identification Number of all securities in your portfolio.

A CAS consists of all information regarding the switching or merging of funds by means of financial purchases and transactions.

You can also see details of dividends or bonus payments, your bank account details and redemption before or after maturity periods. It also includes specifics regarding reinvestment or a New Fund Offer.

CAS also shows details of the investment mode ( lump sum or Systematic Investment Plan (SIP) along with closing and opening share unit portfolio balances.

13 Best Mutual Fund SIP Plans To Invest In 2019

Conclusion

Though consolidated account statement is a single place where you can assess the efficiency of all your mutual fund investments, it fails to provide detailed information about a company’s performance. As the name says ‘consolidated’ it provides only a cumulative financial statement thereby missing out on details like the performance of AMCs branches/ subsidiaries, etc.

The idea of CAS is to save you the hassle and time of going through each fund documents and comparing them to arrive at a result. Hence, if you want a quick look at your portfolio this can be an ideal source to do so.

Happy Investing!

Disclaimer: The views expressed in this post are that of the author and not those of Groww