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Mutual Funds to send CAS via email

To save cost and to promote green initiatives, mutual funds will start sending CAS through email to investors

June 08, 2012 10:51 IST | India Infoline News Service
Some time back, SEBI (Securities and Exchange Board of India) had mandated all mutual funds to issue monthly consolidated account statement (CAS) based on PAN (permanent account numbers) provided by investors at the time of investment.  
Further, mutual funds are also required to send a CAS every half year (September/March) at the end of six months—across all schemes of all mutual funds—to all such investors in whose folios no transaction has taken place during those six months.
To save cost and to promote green initiatives, mutual funds will start sending CAS through email to investors (eCAS). eCAS, across all folios maintained with different mutual funds, will be sent through email to one single email ID of the investor. Hence, it is essential that investors maintain a single email ID across all your folios maintained with different mutual funds.
If investors have registered different email IDs in different folios, it is possible that every month eCAS may be emailed to a different email ID (i.e. depending on the folio in which the transaction has taken place during the month).
Investors can avoid this problem by updating a common email ID across all folios in all mutual funds.
 

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