WHAT IS CAMS ?
CAMS stands for Computer Age Management Services. It is a SEBI registered KYC Registration agency falling under the Registrar and Transfer Category and is jointly owned by NSE Investments, HDFC Group, Warburg Pincus, and Acsys Investments Pvt. Ltd. It provides technology-enabled services and processing-related solutions to AMCs/Fund houses as well as investors. It collaborates with different AMCs and assists them in building and establishing a user interactive delivery model to investors.
How Does MyCAMS Works ?
CAMSonline is a web portal so it demands the investors to be online to use it. By providing details of PAN and registered mail-id, it will enable easy retrieval of mutual fund statement. The user needs to access the mail-back services in order to get the soft copy of statements. It also assists investors to access scheme-related performance, statistics, and analysis metrics of various fund houses.
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SERVICES PROVIDED BY CAMS
In India, the Mutual fund industry is on the boom and the transaction processing environment is very complex and sophisticated. There are many sub-agents of distributors who need the information of transactions in mutual funds. Here, CAMS comes into the picture by offering a service package to all these distributors which includes:
- Maintenance of sub-brokers details
- Maintenance of investor details
- Import of investors’ day to day transaction details
- Trailing fees payable to sub-brokers
- Target-based incentive commissions
- System to view investors’ portfolio
- Import of month-end net asset positions
- Import of month-end trailer fees payable
- Computation of incentives payable to sub-brokers
- Computation of commission payable to financial consultants
- Front-end commissions payable to sub-brokers
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Transfer Agency Services:
CAMS assists process transactions of active mutual funds. For recording and maintaining this huge number of transactions, CAMS puts its robust system to a stress test at high volumes to make sure that the system’s security is tested by top accounting firms.
Along with the services quoted above, It also provides technology bases solution services to LIC, NBFCs, Banks, Private Equity Funds among others. CAMS is also an approved GSP (GST Suvidha Provider).
Features of CAMS
Being an ISO 9001:2008 certified establishment, CAMS offers a stringent quality check policy which comes with a 6 sigma level quality check.
CAMS is equipped with the latest and advanced technology which aids it to maintain and comply with international standards. They have a great IT infrastructure which helps them cater to nearly over 1 cr transactions per month.
It consists of an in-built risk management program that works under the able monitoring and supervision of specialists.
As of June 2020, CAMS cover almost 271 locations enabling the manufacturers to eliminate the need for permanent infra, and their service centers provide solutions to issues relating to installation and maintenance.
Investors can map all their investments made through CAMS with the same email id under their portfolio.
It assists the investor to complete and verify their KYC in electronic mode while catering to the investment transactions parallelly.
After registering once, the registered details can be used for all future transactions with any AMC.
Vibrant web presence:
They are backed by a strong supporting network called FinNet which assists it to increase its outreach even to the places which do not have CAMS service centers.
To start the registration process, visit the myCAMS page from the official website at camsonline.com. Investors are advised to use one email id for all transactions so register with the one you wish to continue using. You must remember that the portal allows only 48 hours to one time generate credentials and this one-time reg process is valid for a lifetime. It facilitates and simplifies the process of business, manage and monitor portfolio, scheduling payments among others.
Follow these steps for mobile registration:
- Download the myCAMS mobile app.
- Click on the Register Now button
- Fill in your email id on the New Registration screen
- Submit and sign up
- Your credentials will be sent to your mailbox
- Enter them and log in to your account
- Change the password and log in again.
Follow these steps for online registration:
- Visit the official website
- Click on New User Registration and generate a user-id
- Enter the email id and captcha code
- Once successful, a confirmation message will appear
- The credentials will be sent via email; enter them to log in to your account
- Change the password and login again
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