If you are a mutual fund investor or are considering investing in them, chances are that you may have heard of the term CAS or Consolidated Account Statement. Through this statement, mutual fund managers can regularly notify investors about the fund’s performance. Here, we will explain the concept of CAS in detail for investors to have a better understanding of it and make the most of the information contained in it.
CAS, or consolidated account statement, is a document containing all the relevant details of an investor’s:
CAS was introduced by SEBI in 2015 as part of its mandate for all depositories to consolidate all important investment-related information for each investor and align the same with their PAN.
CAS includes:
Investors can use CAS to easily track their mutual fund investment performance at any time. CAS is available free of cost every month. Investors can avail a soft copy of the same through email. For CAS in paper format, an investor must specifically request for the same to be delivered via post.
Here are the details that are included in CAS:
A consolidated account statement includes all transactions surrounding a mutual fund account like :
Apart from this, it also contains reinvestment information or possibility of a New Fund Offer (NFO), investment mode, available portfolio balance, etc. As part of CAS, the AMC also needs to state whether the investor has chosen a systematic withdrawal plan or systematic transfer plan.
CAS must contain information like:
Through CAS, one can check the status of nominee registration along with the KYC status. Some of the confidential and sensitive information, specifically surrounding bank details or PAN, are not included in CAS.
Here are some of the ways that the information contained in CAS can help investors:
CDSL or Central Depository Services Ltd. offers a facility using which investors can easily download their CAS straight from the depository’s website. Here are the steps to be followed to access the same:
Some of the benefits of CAS are:
Every investor should know about the various factors like financial standing, strategies, risk appetite, investment goals, portfolio diversification, etc. while conducting a thorough research for informed investment decisions. Ensuring that one has access to a consolidated account statement on a regular basis can help to keep a close watch on your investments and maximise benefits from the same.
CAS includes all the mutual fund folio details of an investor as linked to his/her Permanent Account Number or PAN. While starting an SIP investment in a mutual fund, for instance, the PAN details are submitted. Based on this, CAS sources and includes all details on the investment.
SEBI has mandated for all the AMCs to state all applicable fees and charges against every investor’s total investments in half yearly CAS. The information therefore includes expense ratio, gross commission, operating expenses and other payments, if applicable.
Yes, in case an investor comes across mis-represented or misinformation in CAS, he/she can dispute the same with the mutual fund house for correction through depositories.
No, any folios held in a minor’s name are not included in CAS.
Depositories are institutions that hold an investor’s securities in electronic form, also known as dematerialization of shares or DEMAT account. Depositories look after the safe-keeping of an investor’s securities and keep a record of all transactions. The two depositories in India are Central Depository Services Limited (CDSL) and National Services Depository Limited(NSDL).
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