Mutual funds consolidated account statement<\/h1>\n

Mutual funds consolidated account statement is a very useful tool for the investors who have diversified their investments across multiple fund houses. \u00a0At present there are more than 50 members registered with Association of Mutual Funds in India (AMFI) who offer mutual fund investment services to investors. \u00a0Every mutual fund will have its own Registar and Transfer Agent (RTA) who looks after all back office operations like subscriptions,\u00a0redemption, dividend pay out etc.,<\/p>\n

Earlier there was no provision to get\u00a0Mutual funds consolidated account statement for the investments across different fund houses. \u00a0Each fund house used to send separate account statement with transactions and holdings of the investors particular to fund house. \u00a0It is very cumbersome for large investors who chose many funds houses for the benefit of diversification across different mutual funds. \u00a0This peculiar problem is not unique to mutual funds alone. \u00a0Investments in insurance and related products face similar problems.<\/p>\n

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. \u00a0This will give a bird’s eye view of all investments held by investors.<\/p>\n

With an initiative by CAMS, Karvy and FTAMIL, mutual funds investors can now avail\u00a0Mutual funds consolidated account statement. \u00a0It should be noted that\u00a0Mutual funds consolidated account statement is available only for the fund houses which are serviced by above CAMS. Karvy and FTAMIL. \u00a0If fund houses are not serviced by one of these registars, still one need to have separate statement. \u00a0Having 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.<\/p>\n

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. \u00a0All 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.<\/p>\n

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