As per the Interim Budget announcement in 2014 to create one record for all financial assets of every individual SEBI had been a big discussion with the Depositories, Registrar and Transfer Agents (RTA) and the Association of Mutual Funds in India (AMFI) to implement the above concept for financial assets in respect of securities market.
It had been decided to enable a single consolidated view of all the investments of an investor in securities held in Demat form with the Depositories as well as in Statement of Account (SOA) form with Mutual Funds (MF).
It helps investors to track their Mutual Fund performance. CAS also has been including insurance policies held in the e-insurance account.
In also addition, NSDL CAS is an essential document of all transaction information of investors securities which enable all financial assets to be held in Demat format. It was articulated by the Hon’ble Finance Minister in his budget speech of July 2014.
NSDL CAS unparalleled convenience to investor experience of managing their portfolio effectively and benefit them in many other ways. Benefits like better decision making, simplified monitoring, rich analysis of the portfolio, etc. CAS is sent to the investor after the month in which an investor carried out a financial transaction for investments.
Need of CAS
Most of the investors are not able to compile a list of all their investments and they do not know exactly the total value of their portfolio. If an investor contacts his/her stockbroker/ portfolio advisor then the investor would receive a Statement of Mutual Funds folio’s which is maintained by that stockbroker/ portfolio advisor.
How to generate a CAS?
Step-1 Go to www.camsonline.com
Step-2 Click on Investor Services.
Step-3 Click on CAS- CAMS, Karvy, FT, SBFS.
Step-4 Enter your email ID and Permanent Account Number (PAN).
Step-5 Enter a password of your choice. This need not be the password that you have given to the mutual fund account.
By using this, one will get a mail from www.camsonline.com. They will generate a password-protected PDF file. You must enter the password when you try to open the statement. Moreover, this facility is free of cost for all.
How do CAS compute by AMCs?
The Consolidated Account Statement computes the statement of all transactions and holdings of an investor’s Demat account maintained with NSDL or CDSL. The NSDL CAS provides details of transactions and holdings across various Demat accounts.
There are platforms such as Karvy, CAMS, and Franklin Templeton Asset Management India Ltd. (FTAMIL) that allows investors to access a consolidated view of their holdings under a single PAN. The investors will receive it via email.
Contents of a Consolidated Account Statement?
1. AMC and Mutual Fund details
A CAS includes all financial transactions before or after maturity periods. They also contain information regarding reinvestment or if it is a New Fund Offer (NFO).
It specifies the investment method-whether lump sum or a Systematic Investment Plan (SIP) along with opening and closing share unit portfolio balance. Some investors opt for Systematic Withdrawal Plan (SWP) or Systematic Transfer Plan (STP), which the AMC mentions in the statement.
2. Investor details
Name and contact details of an investor, nominee registration, and contact information of investor bank. It also contains other information such as the mode of holding units. CAS makes it easier to check the KYC status and nominee registration status and it will not have confidential information such as PAN number and bank details.
Why CAS is important for Mutual Fund investors?
a) Helps to understand the financial condition of the company
CAS allows investors to understand the health of the company. It helps investors to choose a fund house, based on the info on CAS. It tells investors about the company’s ethics which is helpful to both investors and vendors.
b) Reduces additional paperwork
The paperwork also becomes minimal as one report contains the whole financial data in one place.
c) Keeps investors informed
It simplifies the overall process by cutting down all subsidiaries and shows the overall performance of the company.
Instead of receiving CAS in hard copy, investors can sign up with NSDL to receive their CAS by email on their registered email id by using the E-CAS facility.
Link for sign up
Investors can access https://nsdlcas.nsdl.com and click on NSDL E-CAS to sign up for this facility.
In order to the subscriber for e-CAS, the CAS ID is required. CAS ID can be found out by clicking on the “Know your CAS ID” tab. The investor needs to provide his/her PAN, DP Name and ID, and Client ID.
Once the fields match, the CAS ID is displayed on the screen. This ID may be noted for future reference.
Subscribing to E-CAS
Once the CAS ID is known, the investor can subscribe to E-CAS by entering the CAS ID and the PAN. On clicking the “Submit” button, the investor is prompted to choose the mobile number on which the one-time password can be sent for authentication.
OTP received on the mobile must be entered to authenticate and proceed. Further, the investor’s Email-ID is registered. The investor is required to accept the terms and conditions for e-CAS.
Important Note: If an investor wants to go back to receiving the CAS in physical mode, he can approach the depository to get this done. The E-CAS is a password-protected file and one needs to enter PAN in capital letters as a password to open the file.