How to manage your mutual fund investments using Common Account Number

Mutual fund investments spread across different schemes, fund houses and advisers can be accessed on a common platform using the Mutual Fund Utility (MFU) portal and the Common Account Number (CAN) —a single identification number across funds.

Prerequisites
To be eligible for CAN, an investor must be KYC compliant. CAN is allotted as a unique reference number for a combination of investors, mode and order of holding. For example, if the investor holds a scheme alone and another one jointly, each mode of holding will have a separate CAN.


Obtaining CAN
Download the applicable CAN registration form (individual /non individual) from www.mfuindia.com. The filled up form can be submitted along with required documents at the nearest MFU POS or at the MFU office.

Information and papers
Information such as name, address, PAN, KYC, nomination and bank details have to be provided. Documents to verify the above information also need to submitted.

Mapping existing folios
Once documents are submitted and verified, a CAN is created. The CAN maps itself with existing folios of the investor across funds. This provides a consolidated view of all investments for that holding.

Making changes to investor information
CAN keeps all investor related information centrally. Hence any change in details can be carried out only once at a CAN level and the change is made applicable to all investments.

Points to note

• Investors can apply for CAN online using an online registration facility.
• CAN allows investors to transact in multiple schemes across funds participating in MFU using a common transaction form and making a single consolidated payment for purchases.

(The content on this page is courtesy Centre for Investment Education and Learning (CIEL). Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta.)