Mutual Fund Consolidated Statement is a statement of all your mutual fund’s holdings. In a given period it also shows all your mutual fund transactions. You can get this statement from Karvy or CAMS. But, you must have registered email to your mutual fund to avail this service. The best way to get a complete mutual fund consolidated statement is to register your email address with all your mutual funds.
After this process, you will get your statement via email. You might need your password to open the statement.
The Consolidated Statement keeps a record of all your transactions and mutual fund holdings.
Performance Evaluation: You can use it to know when these funds become long term and to evaluate the performance of your funds. Debt funds become long term after a 3 year holding period. But, Equity funds become long term after a 1 year holding period.
Tax Liability: Mutual fund consolidated statement gives you a record of all your transactions. So you can use it to calculate your tax liability. You can also submit a tax saving investment and CAS proof to your employer so they deduct the correct amount of TDS.
Must Read: MUTUAL FUND DEFINITION- WHAT IS MUTUAL FUND?
Details Checking: You can also check your complete details about name, PAN details, account details. Check whether they are correctly mapped to your mutual fund investments. Know that you have been recorded as FATCA compliant or not. It is a procedure required to ascertain your tax residency (Indian or NRI).
Redemptions and Dividends: With the help of CAS you can track all the dividends you have obtained. Also, all the redemptions you have made from mutual funds.
ISIN is an International Securities Identification Number. It is a 12 character code that identifies debt, equity or other securities. It identifies securities for their settlement and trading in the market.
It provides information regarding the condition and financial health of a company. Also, it shows you the condition of the company’s standing in the financial market. So this information can be helpful for investors and vendors.
Further, it reduces paperwork because a single report contains all the financial data.
Investors can know the overall performance of the company.
All investors get their statement on a monthly basis before the 10th.
Therefore with the above discussion, we can say that Consolidated account Statement is necessary for the mutual fund investors. So, with the help of this statement, they can have all the information regarding investment, transactions and details.
Copyright@2018 MoneyInvestor.net. All rights reserved.