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When investing in mutual funds, it's recommended to review your investment portfolio periodically. During such a portfolio review, the primary objective would be to identify mutual fund schemes that aren't performing well, and replace them if needed.
The investment portfolio may contain assets from different fund houses and across various Demat accounts. This is where a Consolidated Account Statement comes into the picture.
What is a Consolidated Account Statement?
A Consolidated Account Statement (CAS) is a unified account statement that consolidates the investor’s investment records across different Demat accounts, mutual fund folios, etc. It fetches these records from various depositories and mutual funds based on the investor's unique credentials, i.e., Permanent Account Number (PAN).
Under the KYC (Know Your Customer) procedures issued and notified by the Securities and Exchange Board of India (SEBI), PAN is mandatory to make any investment. Accordingly, all investments in financial markets are linked with the investor's PAN.
For an investor holding a Demat account as well as investor folios, the CAS must be generated and shared by the depository, viz. NSDL (National Securities Depository Limited) or CDSL (Central Depository Services Limited). However, for an investor not having a Demat account and only mutual fund investments, CAS must be sent by the mutual fund.
In the case of mutual fund investments across multiple folios, the AMC may share the CAS with which the investor has undertaken the most recent transaction.
What does a CAS show?
List of Demat accounts
A CAS displays the list of Demat accounts held by the investor and whether they have been opened with NSDL or CDSL.
Aggregate portfolio valuation
CAS displays the aggregate portfolio valuation across all the investor folios and different Demat accounts linked with the investor's PAN. Such valuation is shown in tabular form and graphically along with the changes over the last 12 months. However, the portfolio valuation may have increased due to appreciation in the portfolio securities or through fresh investments made during the month.
The breakup of such investment portfolio into different investment products, viz. equities, preference shares, mutual funds, corporate bonds, money market instruments, securitised instruments, government securities, postal savings schemes, and mutual fund folios, is also mentioned.
Month-end holding statement
CAS displays the month-end holding statement of different Demat accounts and investor folios. In case a portfolio is dormant, i.e., there is no activity for six months, CAS is given at the completion of every six months in October and April.
When showing the details of securities in Demat accounts, the report depicts the ISIN (Stock Symbol), company name, face value, quantity, month-end market price and corresponding valuation.
For investments in mutual fund folios, CAS further highlights the average cost of units, total cost, unrealised profit/ loss, and annualised returns from the mutual fund scheme to enable the investors to undertake a broader review of their schemes effortlessly. Annualised returns are calculated using the XIRR (Extended Internal Rate of Return) method, considering the NAV appreciation and dividend distribution.
Transaction statement
Consolidated Account Statement shows the monthly transaction statement of Demat accounts and investor folios. As such, one can get a broader idea of where fresh investments have been made or funds liquidated.
Such details are mentioned irrespective of whether such transaction has been through IPO allotment, corporate actions (Bonus/ Split/ consolidation/ rights issue, etc.), stock market transaction, etc.
Demographic details of investments
CAS displays demographic details, scheme details, exit load details, folio number, nominee details, bank account details, registered mobile number, investor KYC status in the investor folio, etc. As such, CAS aims to serve the purpose of a single-point information source for different transactions in financial markets.
Which financial transactions are included in CAS?
A CAS includes purchases, sale/redemption transactions and switch transactions, including NFO (New Fund Offer) investments, mutual fund units' redemption or maturity, SIP (Systematic Investment Plan), STP (Systematic Transfer Plan) and SWP (Systematic Withdrawal Plan), dividend reinvestments etc.
How to view CAS?
CAS is generated monthly and sent to the registered e-mail address in an encrypted document. Further, if one has an NSDL Demat account and needs to view and download CAS of the last 12 months, one can push the request through the following process:
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Open the online IDeAS portal of NSDL at https://eservices.nsdl.com.
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Register for IDeAS (Internet Based Demat Account Statement) by entering DP ID and Client ID. The portal will validate the entered details and require the investor to input the mobile number registered in the Demat account.
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The details should be authenticated through mobile-based OTP (One Time Password) or the bank account number registered with the Demat account.
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Set up the login credentials, viz. username and password post authentication of Demat account details.
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Login to IDeAS to view or download the CAS for 12 months.
To sum up, a Consolidated Account Statement is a combined account statement that enables investors to monitor their investments and portfolio composition effortlessly.
Disclaimer-
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
To know about the KYC documentary requirements and procedure for change of address, phone number, bank details, etc. please visit https://www.utimf.com/servicerequest/kyc. Please deal with only registered Mutual funds, details of which can be verified on the SEBI website under "Intermediaries/market Infrastructure Institutions". All complaints regarding UTI Mutual Fund can be directed towards service@uti.co.in and/or visit www.scores.gov.in (SEBI SCORES portal). This material is part of Investor Education and awareness initiative of UTI Mutual Fund.