Simplifying Mutual Fund Tracking for NRIs
Walking through multiple mutual fund investments on multiple platforms can be tedious. For NRIs and others living in other time zones, managing multiple folios, fund houses, and platforms can be a tough job. But there is a centralized and easy solution: Consolidated Account Statements, or CAS.
What is a Consolidated Account Statement (CAS)? CAS is a consolidated report giving a view of all the mutual fund investments in a single PAN number, regardless of the number of participating AMCs. CAS is submitted by depositories CDSL and NSDL on behalf of mutual fund registrars like CAMS and KFintech. CAS contains detailed data on investment, current value of holding, history of transactions, and capital gains during the year. CAS is typically sent on a monthly basis but can be downloaded anytime.
Getting Mutual Fund Holdings on the CAS
It can be obtained for mutual fund holdings at one location as a result of the adoption of a CAS. It’s simple. By accessing the CAMS or KFintech website by logging into it and selecting the ‘CAS Statement’ option, the process begins. PAN and registered e-mail ID cause sending an OTP confirmation. After validation, OTP-activated password-based PDF statement is sent to you. Report shows all the mutual fund holdings related to PAN, irrespective of the investment platform utilized.
MF Central: Single Window for Mutual Fund Investors
MF Central is yet another useful platform, co-developed by KFintech and CAMS. The platform provides a consolidated view of mutual fund portfolios and allows users to access CAS, submit service requests, and make personal details updates with various fund houses effectively.
Why CAS is Particularly Valuable for NRIs
This one platform provides valuable advantages, especially for foreign investors investing in India. It eliminates the necessity of going through several websites or apps to track portfolios and is tax time-friendly because it aggregates capital gain information. It also increases financial transparency and offers more control over investments.
Other Tracking Options
Portfolio tracking features are also offered by most fintech broking and fintech apps. The platforms connect the investment data based on the PAN or email ID and show the holdings in user-friendly dashboards. Though simple, they usually pull data from the same CAS database.
Conclusion
Mutual fund investment tracking no longer takes hours of one’s time. One can do the same with schemes like CAS or sites like MF Central, easily sitting at any place. It is an organised and trouble-free task to hold a portfolio of mutual funds wherever one may be.
FAQs
1. What is a Consolidated Account Statement (CAS)?
Ans- It is a single document that shows all mutual fund investments linked to a PAN.
2. Who generates the CAS?
Ans- CAS is generated by CDSL and NSDL on behalf of CAMS and KFintech.
3. How often is the CAS sent?
Ans- It is usually emailed monthly and can be downloaded anytime.
4. How can NRIs access their CAS?
Ans- By visiting the CAMS or KFintech website and verifying via OTP.
5. What information does the CAS contain?
Ans- It includes holdings, transaction history, current value, and capital gains.
6. Can CAS be used for tax filing?
Ans- Yes, it provides a summary of capital gains for easier tax reporting.
7. What is MF Central and how is it different from CAS?
Ans- MF Central is a platform to access CAS and manage mutual fund services.
8. Are mobile apps reliable for tracking mutual funds?
Ans- Yes, they use PAN-linked data to show updated portfolios.
9. Is it safe to access CAS online?
Ans- Yes, the process is secured with OTP and password-protected PDFs.
10. Why is CAS particularly useful for NRIs?
Ans- It helps track all investments easily from one place while living abroad.
Disclaimer: The information provided here is for educational and informational purposes only and should not be construed as financial, legal, or tax advice. Consult with a qualified professional before making any investment decisions. We do not accept any liability for errors or omissions in this information nor any direct, indirect, or consequential losses arising from its use.
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