Since a mutual fund refers to investing a pooled amount of money in different stocks, investors often assume their risk is quite diversified. However, experts recommend also diversify the type of different mutual fund schemes you invest in: you can choose different industry-focused funds or funds based on different market capitalization.
But this is also not enough. A smart investor also needs to monitor the performance of different funds they own, and rebalance it depending on new market conditions and performance metrics.
However, when you have multiple mutual fund investments, monitoring each independently can be a cumbersome process. This is where a consolidated mutual fund statement helps. In this article we dive deep into what is a consolidated mutual fund statement and its features.
This article covers:
- What is a consolidated mutual fund statement?
- Features of the consolidated MF statement
- Components of the consolidated MF statement
- Benefits of the consolidated mutual fund statement
- How to get the mutual fund statement?
The consolidated mutual fund statement is an account statement of your mutual fund investments. The statement is issued monthly and shows the records of the financial transactions done across all the mutual fund schemes that are held against your name and PAN Card ID.
Features of the consolidated MF statement
The mutual funds’ consolidated statement exhibits the following salient features:
- It is, usually, issued by the 10th of every mth.
- As per SEBI guidelines, issuing a mutual fund statement is mandatory
- To ensure you get this statement, you have to register your email ID with authorised mutual fund registrars. The mutual funds’ consolidated statement is then mailed to you in an electronic format. Because of its online nature, it is also called an eCAS statement.
- The statement is issued in PDF format and is always password protected. Your PAN ID is the password with which you can open the attached document and check your mutual fund transactions.
Components of the consolidated MF statement
The mutual fund statement contains the following important details:
- Your name, registered mobile number, email ID, and address
- The list of your mutual fund investments with their opening and closing balances
- The cost of investment vis-a-vis the current valuation
- Folio numbers of all schemes
- Nomination details
- KYC compliance details
- Mode of holding
Benefits of consolidated mutual fund statement
The consolidated MF statement is quite beneficial for investors. This is why SEBI has made its issuance mandatory. The benefits of the eCAS statement are as follows:
- You can easily evaluate the performance of all your mutual fund schemes under one consolidated statement. It eliminates the hassle of checking each scheme’s performance independently.
- The statement gives the overall value of your mutual fund portfolio. This helps you ascertain whether your combined portfolio value is aligned with your financial goals or whether you need to rebalance it
- You can easily check the transactions done in your mutual fund schemes, i.e. the investments made, scheme switches, and redemptions.
- You can also evaluate your tax liability if you are thinking of redeeming any scheme.
- You can double-check your KYC, nomination, and other details contained in the statement.
How to get the mutual fund statement?
You can access your consolidated mutual fund statement from any of the 4 SEBI-authorised mutual fund registrars. These registrars are as follows:
- Franklin Templeton
- Sundaram BNP Paribas Financial Services (SBFS)
You can visit the website of any of these Registrar and Transfer Agents (RTAs) authorised by SEBI and get access to your statement.
For example, CAMS online needs you to follow the following process to get a consolidated mutual fund statement:
- Visit https://www.camsonline.com/
- Under the head ‘Statements’, click on ‘CAMS – CAMS+KFintech’
- Choose from the ‘Detailed’ or ‘Summary’ option and provide the other details like the date for which you need the statement, registered email ID, and password
- Submit the form and the statement would be emailed to your registered email ID
For the consolidated mutual fund statement, CAMS online sends the details of all your mutual fund holdings, whether bought from CAMS or not. You can also choose to view individual portfolios or the holdings bought only through CAMS.
Other RTAs, too, have a similar facility of offering the consolidated MF statement for your perusal.
Similarly, you can use the KFintech website to access your eCAS statement through a mail-back service. Just visit https://mfs.kfintech.com/investor/General/ConsolidatedAccountStatement, provide the relevant details and the statement would be sent to your registered email address.
The bottom line
The consolidated mutual fund statement is a useful and informational tool that helps you monitor your portfolio and make suitable investment decisions. The statement is available free of cost through authorised RTAs and is sent to your registered email address. So, understand how to access the consolidated statement to track your mutual fund investments. Review the statement periodically so that you can ensure that your portfolio aligns with your financial goals.