Axis Equity Fund: Hold :: Business Line

All about consolidated account statement:: Business Line

Consequent to an amendment in SEBI Regulations, from November 2011, Mutual Funds send investors one single consolidated account statement every month, detailing all transactions of the previous month across all schemes of all mutual funds. Some queries on this statement are answered below.

What is the Industry Consolidated Account Statement (CAS)?

The Mutual Fund Industry Consolidated Account Statement (CAS) is a single account statement that consolidates financial transactions for a month in all transacted folios of an investor across all schemes of all mutual funds.

It is issued once a month, on or before the tenth of the month, in respect of financial transactions carried out in the previous calendar month across all mutual funds in India. CAS is generated uniquely only if the first and joint holders are identical in all folios and all have provided valid PAN. For e.g. if you hold a folio singly and in addition another Folio jointly with your wife as second holder, CAS will not be issued aggregating both Folios.

A monthly CAS will include only folios that have valid PAN details and in which financial transactions have taken place during the month. For example, if an investor has five folios and transacts in only two folios in a month, the CAS for the month will include only the two folios and not the others.