Finance Desk – The Securities and Exchange Board of India (Sebi) recently announced a significant update for mutual fund investors. Starting April 1, Sebi has mandated that the Consolidated Account Statement (CAS) will be sent primarily through email.
The CAS provides details of all transactions across an investor’s mutual fund folios and depository accounts, assuming that the Permanent Account Number (PAN) is the same across the Registrar and Transfer Agents (RTAs) and the depositories like NSDL or CDSL.
This shift to email as the default method of dispatching the CAS is part of Sebi’s push towards digitalization.
Investors whose email addresses are registered with the depositories and Asset Management Companies (AMCs) or MF-RTAs will automatically receive their CAS by email. However, for those who prefer a physical copy, Sebi has provided an option to opt out of receiving the CAS by email.
The CAS will be sent monthly if there are any transactions recorded during the month. If no transactions occur, the statement will be sent every six months.
