From March 2015, investors can keep track of all their investments in stocks and mutual funds with a single consolidated account statement (CAS).
Following the Interim Budget announcement in 2014 to create one record for all financial assets of every individual, SEBI has instructed mutual fund houses, registrar and transfer agents (RTAs) and depositories to issue a unified consolidated account statement (CAS) for mutual funds and stock holdings from March 2015.
In a circular issued by SEBI, it said, “It has been decided to enable a single consolidated view of all the investments of an investor in mutual funds and securities held in demat form with the depositories.”
The market regulator has asked fund houses, R&T agents and depositories to put in place a system to facilitate generation and dispatch of single CAS for investors having mutual fund investments and those holding demat accounts.
Depositories are required to consolidate the details of stock holdings and mutual fund units of investors. The single CAS will be sent to investors within 10 working days from last date of the month. Depositories have been instructed to keep such information confidential.
The consolidation will be done on the basis of PAN.
While the CAS will be issued to the first account holder in case of multiple holdings, investors who have not made any investments in stocks will continue to receive CAS from fund houses as per the current practice.
