How To Get Mutual Fund CAS in 2022: MF Consolidated Account Statement
Introduction to CAS
An investor's portfolio may comprise multiple mutual fund schemes spread across various Asset Management Companies (AMCs). Tracking all mutual fund schemes across multiple AMCs can be quite a hassle. It is here where a Consolidated Account Statement (CAS) can make life hassle-free. In this article, we will understand the concept of an MF Consolidated Account Statement, its benefits, and how a sample CAS looks.
What is an MF Consolidated Account Statement?
A mutual fund Consolidated Account Statement (CAS) is a statement that shows you a consolidated record of all your mutual fund transactions in one place. So, if you are making multiple mutual fund investments across different AMCs, a CAS can give you a record of all those financial transactions in a single statement. A CAS gives you details of transactions executed, balance units, and their valuation.
Apart from mutual fund transactions, a CAS can also include details of your other investments such as equity shares, money market instruments, Government securities, corporate bonds, etc., held in your demat account/s across multiple brokers. This article will focus on the mutual fund section of a CAS.
Contents of a CAS mutual fund
A mutual fund CAS can provide you the details of the following:
- Purchase of mutual fund units
- Redemption of mutual fund units
- Transactions related to switching from one scheme to another
- Details of systematic transactions such as systematic investment plan (SIP), systematic transfer plan (STP), systematic withdrawal plan (SWP)
- Details of any dividends received or dividends reinvested
A CAS also gives personal details of the investor such as name, email id, mobile number, address, PAN, KYC status, etc.
How to generate a CAS?
Generating a CAS is simple and can be done by taking the following steps:
- Visit www.camsonline.com
- In the Statements section, click on “CAS – CAMS + KFintech”
- Select the statement type, the period for which you want the statement, enter your details like email id, PAN, password, and click “Submit”
- The CAS will be emailed to you.
From your mailbox, you can download the statement in PDF format. To open the statement, you will need to enter the password you entered when requesting the statement.
Here is how a sample CAS looks.
Image: Sample CAS
As seen in the above sample CAS, its contents include:
- Statement period
- Email id, name, address, and mobile number of the investor
- Details of the mutual fund like folio number, name of the scheme
- Details of each transaction include date, SIP purchase amount, units allotted, NAV per unit, balance units, etc.
Benefits of a CAS
The CAS has many benefits, some of which include:
The biggest benefit of a CAS is that it provides you with all the consolidated data related to your mutual fund investments across multiple platforms in a single place. It gives you an overall snapshot of your entire investment portfolio in one place. It helps you analyse your entire portfolio's performance to evaluate whether you are on track to meet your investment goals.
Provides convenience and saves time
A CAS provides a lot of conveniences as it provides you with consolidated data in a single place. Hence, it makes life simpler and hassle-free. A CAS saves you a lot of time as you don't need to log in to various AMC websites and download separate statements of your investments with each AMC.
Calculation of taxes
The CAS shows you your investments' purchase and redemption date and the price. Based on the prices, you can calculate the capital gain, and based on the holding period; you can evaluate whether the capital gain is short-term capital gain (STCG) or long-term capital gain (LTCG). Accordingly, you can arrive at your taxes.
Highlight any fraudulent transactions
As a CAS gives you details of all the transactions across various demat accounts and mutual fund folios, you can identify fraudulent transactions, if any, and take corrective action by reporting them to the relevant authorities.
What is the frequency of a CAS and the charges for it?
Every investor gets a monthly CAS in their email, free of cost. If you have a demat account, the CAS will be sent by either Central Depository Securities Limited (CDSL) or National Securities Depository Limited (NSDL). The CAS will have the details of your depository account/s and mutual fund folio/s.
The statement for the current month will be generated in the next month and sent to the investor by the 10th day of the month. For example, the depository will generate the CAS for December 2021 in January 2022. If there are no transactions in a particular month, you will not get the CAS.
If there are no transactions for multiple months in a row for a long time, you will get the CAS only once in six months. In October, you will get the CAS for April to September, and in April, you will get it for October to March. You can also generate the CAS whenever you want by visiting www.camsonline.com and following the steps as explained in the earlier section.
How is a CAS computed?
Depositories such as CDSL and NSDL have all the information related to transactions (shares, bonds, Government securities, money market instruments, etc.) in an investor's demat account. The data relating to mutual fund folios is provided by mutual funds servicing platforms such as CAMS or Karvy Fintech. The data from an investor's demat account and mutual fund folios are grouped to compute the CAS.
CAS: Investment portfolio snapshot at one location
The CAS is an excellent initiative taken by the Finance Ministry and implemented by SEBI in favour of investors. The CAS provides investors with all the details of their entire investment portfolio at a single location. Thus, a CAS makes portfolio review simple and brings financial goals within reach.
To get recommendations for investing in mutual fund schemes as per your appropriate asset allocation, download the Glide Invest App from Google Play Store or Apple App Store and get started.
To read more on similar topics, click here: