Consolidated Account Statement: Meaning, Importance and Benefits

Mutual funds have become the go-to investment choice for investors across all financial strata. But investing is just the beginning, as tracking performance is crucial to ensure it aligns with your goals and expectations. Here’s where the Consolidated Account Statement (CAS) comes into the picture. Check out this blog to learn the meaning and details of CAS, along with its format and benefits.

What is Consolidated Account Statement (CAS)?

CAS, or Consolidated Account Statement, is a comprehensive document that provides a unified view of an investor's financial holdings. It includes:

1. Transactions and current holdings in demat accounts maintained with NSDL and CDSL

2. Mutual Fund units held in Statement of Account (SOA) form

This monthly statement, sent to investors via email or hard copy, helps them track their portfolios quickly. The CAS statement includes purchases, redemptions, acquisitions, Systematic investment/Withdrawal plans, portfolio views, etc.

SEBI introduced the requirement for CAS in 2015. 

Importance of CAS for Mutual Fund Investors

CAS is an essential document for investors, allowing them to view all their mutual fund transactions in one place. Here are the important features of CAS

Simplified Tracking

CAS simplifies the tracking of mutual fund investments by presenting a unified view of holdings, transactions, and performance. This helps you monitor your portfolio's growth and make informed investment decisions. 

Error Detection and Correction

You can detect discrepancies or errors in their mutual fund transactions, which helps you identify and correct any mistakes or issues with your account.

Compliance and Tax Reporting

CAS plays a significant role in compliance and tax reporting. It provides a detailed record of transactions that investors need to file their tax returns. You can easily track capital gains, dividends, and other income through CAS.

Cost-Free and Convenient

The CAS is free of charge and is typically sent via email monthly. It is convenient and a standalone reference point for all mutual fund investments and stocks. You can also obtain a physical copy of the CAS or access an online version through the CAMS website.

Steps to Generate a Consolidated Account Statement (CAS) Online

You can easily download the Consolidated Account Statement through the CAMS online portal and depositories like NSDL, CDSL, or AMFI. The steps for generating the Consolidated Account Statement through the CAMS portal are

• Go to camsonline.com.

• Click on the 'Investor Services' tab.

• Choose 'CAS – CAMS, Karvy, FT, SBFS' from the options.

• Provide your email ID and PAN number on the new page.

• Set a password for logging into the account in the future.

• Download the password-protected file and use the password to view it.

Contents and Format of a Consolidated Account Statement

CAS is a detailed account of the mutual fund, stocks, and ETF transactions done by the investor in a month. The contents of the Consolidated Account Statement are -

• Personal Information: The CAS contains personal details like the investor's name, address, and PAN, along with the CAS ID. This section ensures the statement is personalised and accurately linked to the individual investor, helping them verify their details.

• Summary of Investments: This part of the CAS provides an overview of the total value of all mutual fund investments across fund houses and Demat accounts. It gives a quick snapshot of the portfolio's performance, making it easy to understand the overall investment status.

• Portfolio Valuation:  This section shows the current market value of each mutual fund holding, including the number of units and the NAV per unit. 

• Transaction Details: The CAS includes records of all transactions made during the statement period, such as purchases, redemptions, switches, and dividends received. 

• Capital Gains Statement:  The CAS includes a capital gains statement, listing short-term and long-term gains or losses incurred. This is crucial for tax purposes, as it helps investors calculate their tax liabilities accurately.

• Dividend Summary: CAS summarises all dividends received during the period. It details the amount and date of each payment, helping investors track their dividend income.

• Contact Information for Queries: The CAS includes customer service contacts for investment-related questions or support. This helps investors seek assistance and resolve any issues with their investments.

Benefits of a Consolidated Account Statement (CAS) for Investors

CAS provides a consolidated view of the mutual fund and other investments made across depositories. The benefits of this vital statement for investors are:

• Helps with Investment Planning: CAS's detailed overview helps assess overall asset allocation and more effectively plan future investments.

• Time-saving: All investment information in one document saves time compared to checking multiple statements from different fund houses.

• Enhances Transparency: CAS provides a clear and transparent view of all transactions and holdings, making understanding how the investments perform easier.

• Reduces Paperwork: CAS reduces paperwork by consolidating all investment information into one statement, making it more convenient.

Conclusion

The Consolidated Account Statement (CAS) is a valuable tool for investors. It offers a clear and comprehensive view of all their investments in one place. CAS simplifies portfolio management and ensures accurate tracking of investments through monthly updates, making investing more convenient and efficient for investors.