Mutual fund investors to now get consolidated details of transactions

Mutual Funds | admin | November 20, 2011 at 9:39 am

Mutual fund investors will now get a monthly consolidated statement of all of their transactions in different fund houses, Association of Mutual Funds in India (AMFI) said today.

The mutual fund industry has decided to issue Consolidated Accounts Statement (CAS) on monthly basis for transaction starting October, AMFI said in a statement.

"This is an investor-friendly initiative to allow investors a single-window view of all their transactions in mutual funds," Chief Executive of AMFI H N Sinor said.

CAS will be issued as a monthly statement to investors, if there are any transactions during the month, he added.

The consolidation of folios is on the basis of PAN provided by the investors.

The decision follows amendment in Sebi Regulations with regard to issuance of monthly Consolidated Accounts Statement.

The CAS will be in addition to the individual account statements that investors get from the their mutual fund houses

Source: Economic Times