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Consolidated Account Statement : Meaning, Importance and More

Updated on: Jan 11th, 2022

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2 min read

One of the primary duties of a mutual fund manager is to notify investors about fund performance regularly. They manage this by sending a Consolidated Account Statement (CAS) to investors regularly. We have covered the following in this article:

In this article, we will explore the importance of consolidated account statements.

What is a Consolidated Account Statement (CAS)?

Consolidated account statement gives an investor all the details of his or her mutual fund transactions in an orderly manner at a single place. It shows the mutual fund investments under a PAN. You can request for hard copy as well as soft copy of CAS once a month at free of cost.

It is an essential document for investors as it carries every information regarding sale, purchase and other transactions in a mutual fund. This gives a proper insight for investors about how to track mutual fund performance.

Why CAS is important for mutual fund investors?

Helps to understand the ‘health’ of the company

Consolidated account statement allows investors to understand the financial condition of the company. You can decide to choose a fund house or company, based on the info on CAS. It tells you a lot about the company’s ethics and standing, which is helpful to both investors and vendors.

Reduces additional paperwork

The paperwork also becomes minimal as one report contains the whole accumulated data or say all financial data at one place.

Keeps investors informed

It simplifies the overall process by cutting down all subsidiaries and shows the overall performance of the company.

How to generate a Consolidated Account Statement?

Steps for generation of CAS

Step-1 Go to camsonline.com
Step-2 Click on Investor Services.
Step-3 Click on CAS- CAMS, Karvy, FT, SBFS.
Step-4 Enter your email ID and Permanent Account Number (PAN).
Step-5 Enter a password of your choice. This need not be the password that you have given to the mutual fund account.

Note: By using this, one will get a mail from camsonline.com. They will generate a password-protected PDF file. You must enter the password when you try to open the statement. Moreover, this facility is free of cost for all.

How do AMCs compute Consolidated Account Statement?

The CAS computes the statement of transactions and holdings of an investor’s Demat account maintained with NSDL and CDSL. The NSDL CAS provides details of transactions and holdings across various Demat accounts as well as mutual funds. It also includes equities, preference shares, warrants and mutual fund units held in dematerialised format.

Money market instruments, securitised instruments, government securities, and corporate bonds form the rest. There are platforms such as Karvy, Cams, FTAMIL, and SBFS that allow investors to access a consolidated view of their holdings/funds under a single PAN. The investors will receive it via email.

What are the contents of a Consolidated Account Statement?

Details about AMC and mutual fund

A CAS includes all financial purchases and transactions like switching or merging of funds, dividends or bonus payments, bank account details and redemption before or after maturity periods. They also contain information regarding reinvestment or if it is a New Fund Offer (NFO).

It specifies the investment method-whether lump sum or a SIP (Systematic Investment Plan) along with closing and opening share unit portfolio balance. Some investors opt for Systematic Withdrawal Plan or Systematic Transfer Plan, which the AMC mentions in the statement.

Investor details

Apart from the name and contact details, CAS entails nominee registration and contact information of your bank. It also contains other information such as the mode of holding units, ISIN and UCC for every plan and portfolio. CAS makes it easier to check the KYC status and nominee registration status. However, it will not have confidential information such as PAN number and bank details.

What is the disadvantage of Consolidated Account Statement?

A consolidated account statement combines information about the company’s assets, liabilities, and income. When an AMC consolidates every information about a fund, it can also hide profits or losses. This could be because it shadows the inter-branch transactions and shows only the consolidated financial statement.

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Quick Summary

Mutual fund managers send Consolidated Account Statement (CAS) regularly to notify investors about fund performance. CAS gives detailed mutual fund transaction info, helps in tracking performance, reduces paperwork, and keeps investors informed. AMCs compute CAS by analyzing investments in Demat accounts. The CAS includes AMC details, financial transactions, bank info, portfolio balance, and investor details. However, it can hide profits or losses. Investors can generate CAS for free by following simple steps on platforms like CAMS, Karvy, FTAMIL, and SBFS.

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