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How to read your mutual fund statement?

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Whenever you invest in a mutual fund scheme, the fund house has to send you a statement providing details of your holding in the scheme. You can opt for a physical copy of the statement, or a soft copy, which can be e-mailed to you and you can access it online. This statement provides information about the transactions conducted by you within a defined period.

This statement is sent to you within a period of three working days once the transaction is done. This document indicates the changes in the account whenever there is a redemption, additional investment or dividend declaration. This makes the account statement important for tracking your investments.

Should you preserve your mutual fund statement?

No. There is no compulsion to preserve the physical statement. Your ownership has already been recorded by the AMC in its records. If you do not like dealing with paper, you can opt for e-statements. To redeem your units, you only need to fill the necessary form.

What are the details to look out for in a mutual fund statement?

It is in your interest to ensure that the mutual fund statement sent to you by the asset management company is error-free. The statement provides details of your investment which include your name, address, bank details, folio and account number, current cost and value and PAN details.

a) Investors’ personal details and bank details:

Your name, address, e-mail ID and contact numbers of the investor or joint investors, if any, are mentioned in this section. Ensure that the details mentioned in the account statement are correct.

The name of your bank and account number should be correctly mentioned, or else you might face unnecessary problems at the time of redeeming your mutual fund units. In case you need to change your bank mandate, fill in the slip provided at the bottom of the account statement and submit it to the fund house.

b) Folio and account numbers:

Each time you invest in a mutual fund, the fund house gives you an account number. You could also invest in a number of schemes such as a debt fund, an equity fund or a tax plan, with the same fund house. In this case, it would be wise to mention your account number so that the fund house can consolidate all accounts under a single folio. This makes it easier to track all the investments with a particular fund house.

c) Current cost and value:

The current value is the latest market value of the investments on the date the statement is generated while the current cost indicates the amount invested in the scheme. The number of units allotted is calculated using the amount invested divided by the NAV of the scheme as on the date of allotment. In case there is an exit load, the same would be deducted from the NAV and the proceeds paid out to the investor.

d) Advisor’s name and PAN details:

If you have invested through an agent, his name and code will appear on the statement. However, if you have invested directly,

these parts should be blank in your account statement. It is mandatory for you to provide your PAN, irrespective of the amount that you have invested. Check that the PAN mentioned in the account statement is correct.

e) Transaction summary:

This section mentions the types of transactions that you have opted for, which might include purchase, the systematic investment plan (SIP) or the systematic withdrawal plan (SWP). Besides, other transactions are also mentioned, along with the percentage or rupees per unit at which the dividend is reinvested or paid out.

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