Finance Guru Speaks: The Association of Mutual Funds in India (AMFI) announced the roll out of mutual fund Common Account Statements, or CAS, in the electronic form (eCAS).
SEBI had directed all fund houses to provide a common account statement to every investor. Since November 2011, physical copies of CAS are being dispatched to investors. It is issued each month to MF unit holders in whose folios financial transactions have taken place during that month. Now, the electronic version of this statement will be sent to the investor's e-mail ID. That is, the e-mail ID registered as per the investor's KYC (know-your-customer) records or the one registered in the last transacted folio during the month. The newly-launched eCAS system will offer convenience, security and anytime/anywhere access.
SEBI had directed all fund houses to provide a common account statement to every investor. Since November 2011, physical copies of CAS are being dispatched to investors. It is issued each month to MF unit holders in whose folios financial transactions have taken place during that month. Now, the electronic version of this statement will be sent to the investor's e-mail ID. That is, the e-mail ID registered as per the investor's KYC (know-your-customer) records or the one registered in the last transacted folio during the month. The newly-launched eCAS system will offer convenience, security and anytime/anywhere access.
Investors are advised to update their KYC records with their latest e-mail IDs to ensure that the e-statements are sent to the correct ID.
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