What am I?
Unlike a normal account statement issued by a mutual fund (MF) house, which provides details of a particular folio or a scheme, I provide the status of all your folios in different fund houses at one place. I use your PAN number to combine the details of all your folios and offer you information about investments, redemptions, switches, dividend payouts and re-investments, among others. I also mention your nominee registration status, mode of holding and know-your-client (KYC) status for each folio and scheme.
How frequently am I issued?
I would be issued in April and October of every year.
I would also be issued for the month when you transact in any one of the schemes held by you. In this case, I would include details of only those folios in which you transact.
What are my benefits?
I would ensure that you do not have to track the account statements of different MF schemes separately and thus would help you reduce your paperwork. I would also help you to track the quantum of your MF investments at one go at the time of portfolio review or otherwise.
What are my limitations?
I would be unable to give you a status update on non-financial transactions such as updating your residence address or change in bank account details, among other things.
I cannot provide details of transactions under demat mode as well.