The technology adoption in the Mutual Funds industry in India is taking rapid strides. For example, you can buy Mutual Funds through your broker. One more reason why you should invest in Mutual Funds?

The first Consolidated Account Statement (CAS) was to be issued by November 10, 2011 that covered the Mutual Fund transactions for the month of October, 2011. So now, instead of getting separate account statements from the various Mutual Fund houses (AMCs) where you have invested, the CAS will ensure just one statement.

AMFI (Association of Mutual Funds in India) has a detailed FAQ on it's website about CAS

Here are some of the things that you must know about CAS:

• CAS has been mandated by SEBI amendment in it's regulation that states that:

“the asset management company shall ensure that consolidated account statement for each calendar month is issued, on or before tenth day of succeeding month, detailing all the transaction, including transaction charges paid to the distributor, across all schemes of all mutual funds, to all the investors in whose folios transactions has taken place during that month.

• The common investors across Fund Houses will be identified from their PAN (Permanent Account Number)
• No CAS will be sent if the PAN is not updated.
• NO CAS will be sent if there is no financial transaction.
• Investor should approach respective mutual fund or the registrar in case of any discrepancy in financial transactions, folio details printed in CAS or for any other queries.

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