How to read a Mutual Fund Statement

A Mutual fund statement contains the summary of all the transactions conducted by an investor during a particular period and the value of holdings as of a date. There are 2 ways to get the Mutual Fund statement - One is from the Mutual Fund house in which you've invested. This will give you a summary of all the funds you own only with that fund house. However, the second way to procure the statement is from the registrar or depository. This one will be a consolidated account statement which will give you a holistic view of all your mutual fund investments across different fund houses.

Here's what you need to check in the statement. 

1. Personal details: This includes name, address, contact number, email and PAN. 
2. The KYC status should say "OK": If not, you should complete the KYC process at the earliest.
3. Bank details: This section will mention your bank account details including your bank account number, the bank's name, and IFSC code. Ensure this is accurate to avoid problems when receiving dividends or redemption proceeds. 
4. Nominee details: A nominee can claim the assets in the event of the holder's unfortunate death. So, if you still need to add a nominee, please do so as soon as possible to ensure a smooth transfer of holdings in the case of an unfortunate event. 
5. Transaction details: This will have the scheme name, the date of transaction, amount, units purchased, redeemed or transferred, the NAV, NAV date, and the transaction type - that is, lumpsum, Systematic investment plan, Systematic Transfer Plan or Systematic Withdrawal Plan.

How you meticulously check your bank and credit card statements to ensure that everything is accurate, you must also check your mutual fund statements. In case of any discrepancy, raise an error with the mutual fund house. If you notice some portfolios that need to be included, check whether your PAN card has been updated in the portfolio. If it has been and still needs to be reflected, you should raise an error with the mutual fund house or the registrar.

By giving you details of how much has been invested and in which scheme, the consolidated mutual fund statement gives you a bird's eye view of your portfolio, which will help you make more informed investment decisions in the future. 

Here are few important links for downloading your account statement

Kotak Mutual Fund Statement - https://www.kotakmf.com/Information/investor-service

CAMS - https://www.camsonline.com/Investors/Statements/CAN-based-Statement

CAS Statement – NSDL - https://nsdl.co.in/nsdlcas/

 

Disclaimer

Mutual fund investments are subject to market risks, read all scheme related documents carefully.