CAMS has introduced a mailback service for distributors through which they can get information on new schemes post scheme consolidation.
Mailback services help distributors get their business reports in an email. From gross commission statements across CAMS serviced fund houses to assets under advisory at the fund house level, mailback services take care of all business details.
In an email communication, CAMS has said that distributors can utilize CAMS Mailback report WBR2 for information on merged schemes. Given below is the nomenclature used under the header 'TRXNTYPE':
· First three letters starting with SOM - refer to Switch - Out (Merger): This means, distributors can get the details of schemes, which are merged.
· First three letters starting with SIM - refer to Switch - In (Merger): This indicates details of new schemes post merger.
In addition, you can get all your queries on scheme mergers answered in one place. You can view scheme name changes, scheme merger changes along with the respective 'Change type' & 'Effective Date' details across the 15 funds houses serviced by CAMS.
You can login to www.camsonline.com and simply click on ‘what’s new’ on the right hand side of the webpage to download the file on scheme consolidation.
Earlier, SEBI came out with uniform definitions for fund categories to reduce the number of schemes in mutual funds. Simply put, the market regulator has defined various categories of mutual fund schemes to reduce confusion among investors and expedite scheme consolidation.
The new facility by CAMS will help distributors to get complete picture of new schemes post merger.
