Consolidated Account Statement (CAS) – Everything to Know!

The Consolidated Account Statement (CAS) is an indispensable financial document in the Indian BFSI sector. As a comprehensive report, it provides an overview of all your financial investments, including mutual funds, equities, and bonds.

In simpler terms, it’s a one-stop snapshot of your financial portfolio. While some may refer to it as an “Integrated Account Summary” or “Unified Financial Report,” the purpose remains: offering a simplified and coherent view of your multiple financial engagements.

Knowing the details encapsulated, you can make informed decisions and strategize your investment plans effectively.

What is a Consolidated Account Statement?

A Consolidated Account Statement is a detailed financial document presenting a unified view of an individual’s or entity’s financial assets. This statement aggregates information from multiple financial institutions, making it easier for investors to track and manage their investments.

These statements typically include:

Mutual Funds

The statement will list all your mutual fund investments, including the Asset Management Companies (AMCs) you’ve invested in, the units held, and the current value.

Equities and Shares

If you hold shares of companies, they will also be included in your CAS. It shows the quantity of shares held, the purchase price, and the current market value.

Bonds and Fixed Deposits

The statement also shows any bonds or fixed deposits you may hold, indicating the interest rates and maturity dates.

Insurance Policies

Some CAS versions even include details of your insurance policies, like the policy number and the sum assured.

Real Estate

Although less common, some CAS also show details of real estate investments.

Who Issues CAS?

In India, the Consolidated Account Statement is primarily issued by the two main depositories—Central Depository Services Limited (CDSL) and National Securities Depository Limited (NSDL).

These depositories are regulated by the Securities and Exchange Board of India (SEBI) and are responsible for the secure storage of financial securities in electronic form.

While these are the principal issuers, Asset Management Companies also send out a version of CAS that focuses exclusively on mutual funds.

Each of these issuers has a unique role to play:

CDSL

Central Depository Services Limited is one of the two major depositories in India. It is responsible for issuing CAS that is often more comprehensive, covering a broader spectrum of financial instruments like equities, bonds, and mutual funds.

NSDL

National Securities Depository Limited is another key player in the Indian financial landscape. Similar to CDSL, NSDL also issues the consolidated account statement and provides insights into an individual’s diverse portfolio, including mutual funds and equities.

AMCs

Asset Management Companies, better known as AMCs, also issue such account statements but typically focus on mutual funds. These statements are sent directly by the AMCs, where an investor has a mutual fund account.

Why is CAS Important for Mutual Fund Investors?

Unified View

One of the most significant advantages of this type of account statement for mutual fund investors is that it offers a consolidated view of all mutual fund holdings across various Asset Management Companies. This saves investors the trouble of going through multiple statements from different AMCs.

Performance Tracking

It simplifies tracking the performance of your mutual fund investments. It provides essential details like the Net Asset Value (NAV), the number of units you own, and the current value of your investments.

Tax Planning

When it comes to tax season, the statement becomes an essential document. It contains all the necessary information to calculate capital gains or losses, making tax filing more straightforward.

Investment Strategy

A complete picture of your mutual fund portfolio allows you to strategise your investments better. Whether you need to rebalance your portfolio or allocate assets differently, the integrated account summary provides the data you need.

How to Generate CAS?

Online through Depositories

Both CDSL and NSDL have online portals where you can request an integrated account summary. To initiate the process, you must enter personal details like your PAN and registered mobile number.

Via Email

Many depositories and AMCs offer the option to generate and send the account statement to your registered email ID. This is typically an encrypted PDF file to ensure security.

Asset Management Companies (AMCs)

If you are only interested in your mutual fund investments, you can also request a CAS directly from the AMCs where you have investments. Each AMC’s website usually has a specific section dedicated to this.

Financial Platforms

Various third-party financial platforms and portfolio management services also offer the option to generate a consolidated account statement. However, these may not be as comprehensive as those provided by official depositories.

Registered Mobile Number

In some cases, you can generate the statement by sending an SMS from your registered mobile number to a specified number provided by the depository or AMC.

Statement Information About CAS

Personal Details

The CAS starts with your personal information, such as name, address, and PAN number, to establish the ownership of the assets listed.

Asset Types

It categorises your financial assets into various types, such as mutual funds, equities, bonds, and sometimes even insurance policies.

Investment Value

It provides the current market value for each asset, helping you understand how your investments have appreciated or depreciated over time.

Transaction History

The statement includes a detailed transaction history, listing all the buy and sell orders, dividend payments, and other transactions that have taken place.

Performance Metrics

Various performance metrics like Net Asset Value for mutual funds are included to help you gauge the performance of your investments.

What Are the Benefits of CAS?

Holistic View

The most prominent benefit of a unified financial report is that it provides a unified, holistic view of all your financial investments across multiple platforms, making it easier to manage your portfolio.

Ease of Access

With the advent of technology, you can access your statement anywhere, anytime, without going through a pile of paperwork.

Time-Saving

Having all your financial information in one place saves considerable time that would otherwise be spent tracking multiple statements from different financial institutions.

Recommended Read: Standalone vs Consolidated Financial Statements

Asset Allocation

The statement provides a detailed breakdown of your asset classes, making it easier to understand your current asset allocation and adjust it as per your financial goals.

Performance Metrics

Metrics like Net Asset Value (NAV) and current market value provide valuable insights into your investments’ performance.

Simplifies Tax Filing

With all the essential data available in a single document, calculating capital gains or losses for tax purposes becomes a more streamlined process.

Disadvantages of CAS

Complexity

For those new to the financial world, the information provided in a unified financial report can be confusing and difficult to understand.

Limited Scope

While CAS does offer a consolidated view, it may not include all types of assets or financial products, like certain types of loans or international investments.

Data Accuracy

The information in such account statements relies on the data provided by multiple financial institutions, and any inaccuracies there could lead you to make an uninformed decision.

Security Risks

E-CAS files are generally secure, but sensitive financial information could be at risk if your email gets compromised.

Wrapping Up

A consolidated account statement is invaluable for anyone involved in financial investments. It offers a comprehensive snapshot of your financial portfolio and simplifies the otherwise complex task of tracking multiple investments across various financial institutions.

While it comes with many benefits, like ease of access, time-saving features, and a holistic view, it is essential to be mindful of its limitations, such as data accuracy and security risks. Understanding how to generate and interpret a CAS can significantly impact your financial planning and decision-making, making it a cornerstone in managing your financial assets.