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CONSOLIDATED ACCOUNT STATEMENT (CAS) - Meaning, Benefits, How to get CAS

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Gaurav Seth
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WHAT IS CONSOLIDATED ACCOUNT STATEMENT? 

CAS or Consolidated Account Statement is a single combined statement that depicts all the investments made by an individual investor in mutual funds for a period of a month. An investor’s portfolio may consist of different mutual funds investments across various AMCs and a consolidated account statement will show the investor all his investments on one single document. This provides the investors with a snapshot of all their ongoing investments and has all the relevant details regarding their SIPs and the total number of units held among others. 

WHAT IS THE NEED OF CAS?

  1. Simplify investments:

Managing different statements from different AMCs can be a cumbersome and complex task. CAS assists the investors to see all their investment details in one place. 

2. Better financial planning:

s a CAS provides information in a single place, it helps to monitor investments in a much more efficient manner thus aiding to better financial planning.

3. Keeps investors informed:

The investor gets to know the overall performance and information of his/her investments by simplifying and cutting down on the lengthy process.

4. Helps to understand the position:

This statement allows investors to understand the financial position of their investments as an investor can opt from the AMCs he wants to keep and go forward with. 

5. Less paperwork:

As the whole of information is presented in one document rather than different documents, it reduces the paperwork and even this can be easily downloaded online. 

BENEFITS OF CAS

1. Assist in ascertaining Tax Liability:

As CAS provides the investors with all the information of the funds and transaction, this makes it very easy to calculate the tax liability on the same. Moreover, the CAS, with tax-saving investment proof, can help to avail tax deduction under Section 80C of the Income Tax Act, 1961. 

2. Safety of Investments:

With the technological advancement in the field of finance, many technology-based services have emerged. This has also resulted in high risks and chances of sophisticated frauds and forgeries. With the monthly CAS, the investors can stay alert and keep a check of any unauthorized transaction.

3. Performance Review:

Investors after having a look at CAS can see if the investment fund they opted for is delivering the expected return or not. This way they can get to know which of their fund is doing as per their goals and what action they should take. 

4. Regular Updates:

As CAS is sent to investors every month, this helps them to be updated with their investment at a glance. And in today’s time, it is very important to be informed and well aware of your investments. CAS does this job for the investors. 

HOW TO GET CONSOLIDATED ACCOUNT STATEMENT?

Step 1: Go to camsonline.com

Step 2: Tap on Investor Services

Step 3: Click on CAS-CAMS+KFintech+FTAMIL

Step 4: Enter the PAN and Email ID

Step 5: Enter a password. (need not be the password that you have given to the AMC account)

After following these steps, investors will get a soft copy of the CAS. There are options of viewing either summary or detailed statements. Most often, the statement is emailed to the investor which is password protected for additional safety. A hard copy can also be asked for, if needed. 

WHAT ARE THE DETAILS SHOWN IN CAS?

1. Investor Details:

Apart from the basic details of the investor, CAS also has some additional specific information and details mentioned on it. These details include nominee registration, the contact information of the concerned bank, mode of holding units, ISIN, UCC among others. CAS makes it easier to check the nominee registration and KYC status. 

2. Mutual Fund and AMC Information:

CAS includes all the relevant and concerning information about the mutual fund investments and the AMC through which the investment is undertaken. These details include the mode, whether SIP or lumpsum, transactions and purchases like switching of funds, bonus or dividend payments, bank account details, redemption details, NFO details (if any) among others. 

DOES A CAS INCLUDE ALL MUTUAL FUNDS DETAILS?

A CAS will include the folio details of an individual on the basis of PAN number. When an investor initiates a SIP or makes any kind of investment in MFs, the details of PAN have to be given, and based on this, a CAS is able to inculcate all the relevant details of the investment. This makes it very important to put up the correct PAN carefully at the time of making or starting a fresh investment.

Frequently Asked Questions (FAQs)

1. What is CAS?

Consolidated Account Statement is a single combined statement that depicts all the investments made by an individual investor in mutual funds for a period of a month.

2. What is the significance of CAS?

CAS keep the investors informed about their investment and also assists in financial planning by simplifying and reviewing investments.

3. What are the contents of CAS?

CAS consist of investor details, information about the AMC/Fund House and the investments. 

4. Through which website CAS can be extracted?

Investors can simply go to camsonline.com and fill the required details to access his/her CAS statement. 

5. Does CAS include all the investments?

A CAS will include the folio details of an individual on the basis of PAN number. Every investment made in MF under the same PAN will be displayed in the statement. 

6. What are the benefits of CAS?

CAS offers many benefits to the investors. Some of them are:

  1. Assist in ascertaining tax liability
  2. Performance Review
  3. Safety of Investments
  4. Regular and constant updates
  5. Reduces paperwork

Also Read:

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