When you invest in any instrument, you might want to keep a tab on the progress and transaction history. And suppose you have invested in various mutual funds through various channels. In that case, you have to log in to different portals to view your investment value and transactions. In addition, you have to remember the user id and passwords, which is also a task.
Consolidated Account Statement(CAS) makes it easier. Let’s understand CAS in detail.
What is CAS?
Consolidated Account Statement (CAS) is a statement that consolidates all the transactions and holdings useful for those considering a personal loan against mutual fund & securities, across multiple investment products and asset classes. The statement includes details of all investments, such as equity shares, mutual funds, bonds, government securities, and other securities held by the investor.
CAS was introduced by the Securities and Exchange Board of India (SEBI) in 2015 to provide a consolidated view of an investor’s investments across various asset classes with different mutual fund houses, brokerage firms, and depositories.
Types of consolidated account statement
There are two types of consolidated account statements both beneficial for evaluating Personal Loan Against Mutual Fund & Securities:
Depository participant CAS – In the case of DP CAS, you will get the statement automatically in your email by default every month/quarter, depending on the transaction frequency, which is to be sent by your depository participant, i.e. National Securities Depository Limited (NSDL) or Central Depository Services (CDSL).
Mutual fund CAS – If you have invested in a mutual fund and want to receive a CAS, it is necessary to apply for it.
Detailed CAS vs Summary CAS
Diving deep into MF CAS, there can be two ways of looking at your statement, a detailed analysis or a summary. In the case of summary CAS, you only get to see your unit balances and the latest market value of your held mutual funds
However, in the case of detailed CAS, you will get a detailed result of your transactions. In FinEzzy, we always appreciate investors requesting detailed CAS. It is more effective as we can run multiple analyses such as Portfolio XIRR, Fund wise performance, and Capital Gains report.
How to apply for Mutual Fund CAS?
As you may already be aware, in order to receive a CAS for your mutual fund investment, you must submit an application. Unlike DP CAS, it is not automatically sent to your email.
You can apply on FinEzzy for mutual fund CAS by following simple steps:
- Go to the website – Consolidated-Account-Statement
- Select your statement type – detailed or summary
- Select the date up to which you want your CAS statement
- Mention your email, PAN, and a password that is strong and easy to remember
- Submit to get all your data in one place
FinEzzy helps in slicing and dicing out the information from the CAS to give you an understanding of the whole picture in a much-simplified manner.
Learn more about the nuances of managing your securities efficiently in ‘How To Get a Loan Against Securities at a Low Interest Rate?‘ in our blog post.
Importance of Consolidated Account Statement (CAS)
A consolidated account statement is a report that combines information from all of your investment accounts into a single document, which is particularly important if you’re considering a personal loan against mutual fund & securities. It can be very important for investment management for the following reasons:
- Provides a complete overview: A consolidated account statement gives you a comprehensive view of your entire investment portfolio in one place. It helps you understand your investments’ overall performance, identify areas that need attention, and make informed investment decisions.
- Simplified record keeping: With a consolidated account statement, you no longer need to maintain separate records for each investment account. This saves you time and effort in keeping track of your investments and helps you to stay organised.
- Reduces errors: Consolidated account statements help reduce errors and discrepancies when dealing with multiple investment accounts. Having all of your investment information in one place makes it easier to identify and correct any errors that may arise.
- Facilitates tax planning: Having all your investment information in one place makes it easier to determine your tax liability and prepare tax returns accurately.
- Enhances transparency Consolidated account statements provide greater transparency and accountability in the investment process. This can help to build trust and confidence between investors and their investment advisors or financial institutions.
Conclusion
A consolidated account statement is a tool to keep track of your investments. Despite having a few disadvantages, it reveals the performance of your investments which can be improved by taking the required steps.
