Mutual funds consolidated account statement

Mutual funds consolidated account statement is a very useful tool for the investors who have diversified their investments across multiple fund houses.  At present there are more than 50 members registered with Association of Mutual Funds in India (AMFI) who offer mutual fund investment services to investors.  Every mutual fund will have its own Registar and Transfer Agent (RTA) who looks after all back office operations like subscriptions, redemption, dividend pay out etc.,

Earlier there was no provision to get Mutual funds consolidated account statement for the investments across different fund houses.  Each fund house used to send separate account statement with transactions and holdings of the investors particular to fund house.  It is very cumbersome for large investors who chose many funds houses for the benefit of diversification across different mutual funds.  This peculiar problem is not unique to mutual funds alone.  Investments in insurance and related products face similar problems.

Investments in equities have advantage of having consolidated statement as irrespective of where shares are purchased they are credited to demat account (At present only two depositories namely NSDL and CDSL have demat operations) registered with share broker.  This will give a bird’s eye view of all investments held by investors.

With an initiative by CAMS, Karvy and FTAMIL, mutual funds investors can now avail Mutual funds consolidated account statement.  It should be noted that Mutual funds consolidated account statement is available only for the fund houses which are serviced by above CAMS. Karvy and FTAMIL.  If fund houses are not serviced by one of these registars, still one need to have separate statement.  Having consolidated statement gives benefit of having all investment data like folio numbers, transactions, dividends history, investment value at a single place which gives better decision taking ability about investments in mutual funds.

NJ Wealth Advisors, one of the leading national distributors of mutual funds in India, provides a FREE online wealth management platform to all investors who subscribed to mutual funds through their partners.  All investments in mutual funds are auto updated along with complete control on managing other asset classes like equity, insurance, Fixed deposits etc., Below is a screen shot of free client desk of NJ wealth advisors.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

It gives the benefit of having having all your mutual fund investments at one place and auto updated with latest NAV. You can get a free client desk with many features by downloading mutual fund applications of NJ Wealth advisors Partner.  You can also leave a message for getting applications.  You can transfer your existing investments with any mutual fund by submitting a simple NOC form and transfer your investments to have a better view of your investments.

If you are looking for Mutual funds consolidated account statement provided by CAMS, Karvy and FTAMIL, you can request a mailback request to receive it in email.