Everything You Need to Know About Consolidated Account Statement

The consolidated account statement is a comprehensive document that gives the investor all the information they require about their transactions and investments related to depository accounts and mutual fund investments. After giving all depositories the responsibility of gathering this crucial investor-related data together with their PAN in 2015, SEBI put CAS into place. The CAS contains a complete record of all purchases and sales involving a particular mutual fund. As a result, investors can systematically track the progress of mutual funds over time. Each month, a free copy of the document is distributed to users, typically via email in soft copy. You must make a request in order to receive them in hard copy as well.  They typically consist of:

Details regarding AMC and mutual funds – All financial transactions, such as purchases, fund transfers, bonus payments, and bank account information.

Investor Information – This information includes the investor’s name, contact details, nominee registration, bank contact details, and method of holding the units.

Why is CAS significant for investors in mutual funds?

Consolidated mutual fund statements have numerous advantages for mutual fund investors, including:

• Investment Tracking: CAS makes it simple to keep track of investments because it contains all the information about financial transactions, lists all holdings and their current values, notates consultant/mutual fund distributor fees, and more. 
• Aids in assessing the company: By providing investors with more details about a fund house’s or company’s financial situation, operating results, and general standing, the consolidated mutual fund statement helps them make informed investment decisions.
• Reduction in Paperwork: Paperwork management is greatly streamlined as a result of the organisation and collection of all the information into a single, well-organised document. 
• Less Paperwork: The organization and collection of all the information into a single, well-organized document greatly streamlines the management of paperwork. 
• Straightforward: To make it easier for investors to stay informed, all subsidiaries are eliminated and the focus is solely on the overall performance of a fund or company.

How to generate a Consolidated Account Statement?

To generate the CAS, follow these five steps:

• Visit the website at https://www.camsonline.com/.
• Navigate to the Investor Services tab.
• Select CAS-CAM, Karvy, FT, or SBFS. 
• Enter your email address and PAN (Permanent Account Number).
• Choose your own password, which does not have to be the same as the password assigned to the mutual fund account.

How do AMCs compute Consolidated Account Statement?

AMCs publish distributor commissions in common account statements in addition to including all marketing costs paid on distributors in the form of gifts/rewards, travel, and event sponsorships. AMFI has asked that AMCs determine the commissions based on the average AUM that each investor holds in each scheme. The statement of transactions and holdings for a shareholder’s Demat account with NSDL and CDSL is determined by the CAS. Information on transactions and holdings across numerous Demat accounts and mutual funds is available from the NSDL CAS. Additionally, it covers dematerialized stocks, warrants, preference shares, and mutual fund units. The remaining components are money market instruments, securitized assets, government securities, and corporate bonds. Investors can get a consolidated view of their holdings or funds under a single PAN with platforms like Karvy, Cams, FTAMIL, and SBFS. It will be sent to the investors via email.

What does a consolidated account statement include?

The two primary parts of CAS are:

1. AMC and Mutual Fund Details: Every financial transaction, including fund transfers or mergers, dividend and bonus payments, bank account information, and redemptions before or after maturity dates, is documented in a consolidated mutual fund statement. They also include information on reinvestment and whether an NFO is being made. It offers details on the investment strategy, such as the closing and opening share unit portfolio balances, whether they are lump sum or SIP (Systematic Investment Plan) transactions. According to the AMC’s statement, some investors opt for the Systematic Withdrawal Plan or Systematic Transfer Plan.
2. Investor Details – In addition to your name and contact information, a consolidated mutual fund statement requires nominee registration and your bank’s contact information. It also includes information on the ISIN, UCC, and unit holding mode for each plan and portfolio. CAS makes it easier to check the KYC status and nominee registration status. However, it won’t include sensitive data like your bank account number or PAN.

What are the drawbacks of a Consolidated Account Statement?

It combines information about the company’s assets, liabilities, and revenue. When an AMC gathers all the information about a fund, it might omit gains or losses. This might be as a result of the inter-branch transactions being hidden while the consolidated financial statement is only shown.  

Bottom Line 

As an investor, you should be knowledgeable about your financial situation, investing goals, risk tolerance, short- and long-term plans, portfolio diversification, and other factors. Before making any kind of investment, always remember to do thorough research. You can do this with the help of online tools or mobile applications. They can give you real-time market updates, expert advice, price alerts, and other helpful insights. Ensure you receive the consolidated account statement on a regular basis to keep track of your investments and make the most of them.

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