What is it?

If you want to invest directly, you will find you have to invest in each scheme separately, either online through the fund house's website or by submitting a paper application. Most investors, typically, diversify MF investments across 4-5 asset managers; but investing yourself means that you will then have to go to the source for an updated account statement whenever you need one.

With a consolidated statement, you can get details or a summary of all your MF investments across fund houses in one place. This statement gets updated once a month for transactions in funds serviced by the four R&T agents in India—CAMS, Karvy Computershare Pvt. Ltd, FT Asset Management (I) Ltd, and Sundaram BNP Paribas Fund Services. Certain MF websites, such as UTImf.com (which belongs to UTI Mutual Fund), also provide this service.

What you get

To get a consolidated report, go to the website of either an R&T agent or fund house, enter your email address and Permanent Account Number (PAN) (this is optional) and select a password. An email will be sent to you and a statement can be retrieved from it. You can choose to get a summary statement with just your account balance, number of units and value, or a detailed statement, which will have individual transactions listed.

Statements are based on individual PAN-identified folios. Folios held jointly will not get aggregated with your single holder folios. Through this statement, you can get all financial transaction related details such as systematic investment plans (SIPs), switches and dividends, among other things.

You can also get a capital gains statement from CAMSonline.com and karvymf.com across MF investments. These features can make investing and managing your portfolio more efficient. So, make sure you have updated correct details, such as email ID, mobile number, PAN and address, in the know-your-customer (KYC) documentation to avail these facilities.