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03 Dec 2010 12:00 AM
RTAs conduct investor survey on common account statements 
Ravi Samalad
 

The findings will be shared with AMFI, SEBI and all the fund houses and a final decision will be taken thereafter

Mumbai: India’s leading registrar and transfer agents Karvy Computershare, Computer Age Management Services (CAMS) & Franklin Templeton Asset Management (I) Pvt. Ltd (FTAMIL) have sent an email communication to all the mutual fund investors seeking feedback regarding their experience pertaining to account statements. The move signals a step closer towards providing a consolidated common account statement to investors across investments in all fund houses. The regulator has already given its go ahead to RTAs to send consolidated account statements to investors. The three RTAs are currently working out the technicalities and cost sharing issues for this facility among themselves.

“We are seeking feedback from investors. After assimilating the feedback we will share it with AMFI, SEBI and all the fund houses. Common account statement is beneficial for the investors,” said an official close to the development.

The move is likely to reduce the hassles of investors and the industry at large. All fund houses currently send an account statement to investors on a quarterly basis and one statement after every transaction.

One of the questions put forward in the questionnaire sent to investors is whether they would like to get an email or SMS alert after every transaction they make and whether they prefer an account statement after every transaction. Apparently SEBI has been pushing fund houses to make it mandatory while some fund houses want to keep it optional.

 
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