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Tuesday, February 28, 2017

How to Get a consolidated statement for your Mutual Funds

 Consolidated Statement for your Mutual Funds
You can get the details of all your investments across fund houses and then upload them to our Portfolio Manager for in-depth analysis

 A consolidated mutual fund (MF) account statement means that you can see all your MF holdings across fund houses in one statement. You may have an old MF investment through a distributor, whose details you may have forgotten. Or, you may have invested directly across schemes of various fund houses and are finding it cumbersome to get their details. You can get a consolidated account statement of all your MF investments at one place from specific websites. Computer Age Management Services (CAMS) Pvt. Ltd had, in fact, initiated such a consolidated statement in 2008 for funds serviced by it. Subsequently, various registrar and transfer (R&T) agents have come together to offer a consolidated statement across all fund houses serviced by them. This service has been around since 2012. It can be very useful for investors investing directly, whether online or offline.

What is it?

If you want to invest directly, you will find you have to invest in each scheme separately, either online through the fund house's website or by submitting a paper application. Most investors, typically, diversify MF investments across 4-5 asset managers; but investing yourself means that you will then have to go to the source for an updated account statement whenever you need one.


With a consolidated statement, you can get details or a summary of all your MF investments across fund houses in one place. This statement gets updated once a month for transactions in funds serviced by the four R&T agents in IndiaCAMS, Karvy Computershare Pvt. Ltd, FT Asset Management (I) Ltd, and Sundaram BNP Paribas Fund Services. Certain MF websites, such as (which belongs to UTI Mutual Fund), also provide this service.


What you get

To get a consolidated report, go to the website of either an R&T agent or fund house, enter your email address and Permanent Account Number (PAN) (this is optional) and select a password. An email will be sent to you and a statement can be retrieved from it. You can choose to get a summary statement with just your account balance, number of units and value, or a detailed statement, which will have individual transactions listed.


Statements are based on individual PAN-identified folios. Folios held jointly will not get aggregated with your single holder folios. Through this statement, you can get all financial transaction related details such as systematic investment plans (SIPs), switches and dividends, among other things.


You can also get a capital gains statement from and across MF investments. These features can make investing and managing your portfolio more efficient. So, make sure you have updated correct details, such as email ID, mobile number, PAN and address, in the know-your-customer (KYC) documentation to avail these facilities.

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