Mutual Fund houses have started issuance of the mutual fund common account statement in electronic form in association with AMFI. The facility was introduced from November.
SEBI had earlier mandated that all fund houses to provide a common account statement (CAS) to investors with an objective to offer an investor enhanced value, convenience and security with benefits such as anytime/anywhere access.
“One of the main challenge to roll out CAS was to aggregate data across 5 registrars and present a common account statement to an investor based on the PAN. Suitable independent partners had to be identified to address confidentiality related challenges. With eCAS, we believe that investors will have further convenience and we will together make a positive impact on our environmental responsibility through this go-green initiative,” said H N Sinor, Chief Executive – AMFI.
Only those investors whose email id are registered as per KYC records or id registered in the last transacted folio during the month will enjoy eCAS facility.
