Mutual Funds to stop sending CAS through physical letters, update your email ids now

Some time back, Sebi has asked all mutual funds to issue consolidated account statements (CAS) to the investors on a monthly basis. Unique investors will be identified with the help of permanent account numbers (PAN) provided by them at the time of investment. And the CAS has to detail all the financial transactions during the month and also the unit holding at the end of the month - ie across all schemes of all mutual funds. Mutual funds are also required to send CAS on a half yearly basis to all investors who have not done any transaction during those 6 months.

To save cost and also to promote green initiatives, mutual funds are now going to stop sending CAS through physical letters. That means you will get the CAS only through email in future. And there is another catch also here. Since these investments might have happened over a time period, it is possible that investors might have given different email ids for investment with different mutual funds. As the monthly CAS will be issued only to one email id of the investor, investors must have a common email id across all folios with different mutual funds. Else, the CAS may go to different email ids every month (ie depending on the folio in which the transaction has taken place during the month). The best way to avoid this problem is to write to the concerned mutual funds and consolidated your email ids to a common id.