Consolidated Account Statement (CAS) in Mutual Funds
13 May, 2024
Synopsis
Consolidated Account Statement (CAS) in mutual funds simplifies portfolio management by aggregating all financial transactions across multiple Mutual Funds into a single statement.
CAS, available through HDFC Bank's SmartWealth App, offers convenience, better tracking, accuracy, and time-saving benefits.
What is CAS in mutual funds?
Rahul had invested in multiple mutual fund schemes with different fund houses. He was receiving multiple emails of his investment statement from AMCs but keeping track of all the statements was very tough.
Confused, he decided to call his friend Neha, who was far more organized with her investments.
Rahul: Hey Neha, I have invested in 5 AMCs, but tracking all their statements is impossible! Can you suggest how to consolidate everything in one place?
Neha: Hey, Rahul, I have been in the same boat! But the game-changer for me was the HDFC Bank’s SmartWealth App and its Consolidated Account Statement or CAS feature.
Instead of checking statements separately, HDFC Bank’s SmartWealth App imports your investment details in a single place.
You can easily track your current mutual fund holdings, and overall portfolio performance in one place without jumping between websites or digging statements in your email. It's made my investment tracking so much smoother!
I'd recommend you check out HDFC Bank's SmartWealth App and leverage the CAS feature. It's a real-time-saver that lets you monitor your investments more efficiently.
Rahul: Sounds interesting! Can you explain what CAS is and how it helps? I'm a complete beginner here.
Neha: Sure, let me start with your query:
What is CAS or Consolidated Account Statement?
CAS is a statement that aggregates all financial transactions made by you across Mutual Funds. The CAS provides investment details of your overall portfolio in a single place. You can see scheme details, transactions, valuations, capital gains etc. for your overall portfolio in HDFC Bank SmartWealth.
Neha: Rahul, HDFC Bank SmartWealth App offers the following features:
Consolidates data from all AMCs
Provides holdings and transaction information
Displays latest NAVs, valuation, total value
Tracks transactions
Calculates capital gains for tax purposes
Sends email/SMS alerts
Enables CAS generation with a Single OTP7
Rahul: Wow, that's amazing! Is CAS really that helpful?
Neha: Yes, there are many reasons why it is so important for you as an investor.
Why is CAS important for mutual fund investors?
CAS provides significant benefits that simplify portfolio management for mutual fund investors:
Convenience: Everything is in one place, so you don't have to hunt through different statements.
Better tracking: You can see your asset allocation and identify funds that need rebalancing.
Accuracy: A single report eliminates error when compiling data from multiple sources.
Time-saving: No more wasting hours by manually updating trackers or spreadsheets every month!
Tax calculation: CAS makes capital gains computation easier.
Family wealth: If you add family members, CAS gives a snapshot of your household's investments.
Rahul: Amazing, the CAS seems like a game-changer for me. I love that managing my portfolio will save me time and effort.
But what are the Contents of a Consolidated Account Statement?
Neha: The CAS includes all the key information required to track your portfolio:
Scheme and folio numbers
Holding data- units, NAV, and value
Transactions- purchases, redemptions, switches
Rahul: Oh great, that is super detailed! All this information in one place will help me analyse my portfolio better.
Neha: Absolutely! The HDFC Bank SmartWealth app has tools to track your asset allocation, set alerts, various reports, and much more. It makes managing your investments easier.
Rahul: This sounds amazing, Neha! One last question –
How often does the CAS get updated?
Or Do I need to update it manually?
Neha: You need to update your CAS manually on a periodically basis as this app imports the latest data with a Single OTP.
Rahul: Thanks, Neha! The CAS feature of the HDFC Bank SmartWealth App will solve my problem and make life simpler.
Disclaimer: This communication has been prepared on the basis of publicly available information, internally developed data and other sources believed to be reliable. HDFC Bank Limited ("HDFC Bank") does not warrant its completeness and accuracy. This information is not intended as an offer or solicitation for the purchase or sale of any financial instrument / units of Mutual Fund. Recipients of this information should rely on their own investigations and take their own professional advice. Neither HDFC Bank nor any of its employees shall be liable for any direct, indirect, special, incidental, consequential, punitive or exemplary damages, including lost profits arising in any way from the information contained in this material. HDFC Bank and its affiliates, officers, directors, key managerial persons and employees, including persons involved in the preparation or issuance of this material may, from time to time, have investments / positions in Mutual Funds / schemes referred in the document. HDFC Bank may at any time solicit or provide commercial banking, credit or other services to the Mutual Funds / AMCs referred to herein.
Accordingly, information may be available to HDFC Bank, which is not reflected in this material, and HDFC Bank may have acted upon or used the information prior to, or immediately following its publication. HDFC Bank neither guarantees nor makes any representations or warranties, express or implied, with respect to the fairness, correctness, accuracy, adequacy, reasonableness, viability for any particular purpose or completeness of the information and views. Further, HDFC Bank disclaims all liability in relation to use of data or information used in this report which is sourced from third parties.
HDFC Bank is a AMFI-registered Mutual Fund Distributor & a Corporate Agent for Insurance products.
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