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UTI MF SOA | Consolidated SOA | Dividend Summary | Hindi SOA

FAQs - Consolidated Account Statement (CAS) for Unit holders of UTI MF

What was the need for CAS?

SEBI’s notification dated 30th August 2011 have included sub-regulation no. 4 in regulation 36 mandating all Mutual Funds to issue Consolidated Account Statement (CAS) for each calendar month, on or before 10th day of the succeeding month. The same was followed by the Circular dated 8-9-2011 towards clarification.

How will the consolidation takes place?

The consolidation will take place based on the valid PAN of the unit holders with AMC / Registrar & Transfer Agent (RTA) and their identical holding pattern. Separate CAS will be issued for A, A with B and A with C etc.

When will the investor receive the CAS?

1st CAS was to be issued by 10th November 2011. However, the same is expected to be issued by Mutual Funds in India by end of November 2011. Moreover, only KYC complied folios are likely to be considered for the 1st CAS.

CAS will be issued monthly, on or before 10th day of the succeeding month. The transactions carried out in the previous month will be included.

Which transactions will be included in CAS?

Purchase/additional purchase, Redemption, Switch, Dividend payout, Dividend RI, SIP, SWP, STP (STRIP), Bonus and merger, if any.

What will be the format of CAS?

Depending on the number of transactions, CAS will be issued in Inland or in A4 stationery using envelopes.

What information will be included in CAS?

CAS will include investor information like name of all holders, address, Email ID, Mobile number (partly masked) etc. (PAN & Distributor code will not be printed).

Transaction details will include Folio no, scheme, nature of transaction, amount, NAV, STT, Transaction charges, if any and units. The summary of the transacted Folios with closing balance of the units and the value of units will also be provided at the end of the CAS.

Whether all the folios are included in CAS?

No; units issued in Demat including ETFs and Investment held in the name of minor will be excluded from CAS.

What will happen to no PAN/minor holders?

They will receive existing Account statement from Karvy as per the existing method or we may attempt to move on to CAS for non-PAN Folios as well.

If the investor has registered multiple addresses with multiple AMCs to which address the CAS will be sent?

In case of KYC compliant folios, the address as per KYC will be used; else the address as per the last transacted folio will be considered.

Who will be the sender?

The sender’s address will be the printer’s address or his PO Box No, as may be decided by Association of Mutual Funds in India (AMFI).

In case of non-receipt of CAS, where the investor will complain?

Duplicate CAS may not be issued. In case of non-receipt/discrepancy, the investor need to revert to the respective AMC/RTA. e-mail based CAS may be obtained through UTI MF / RTA Karvy’s website.

Some of the investors has opted to receive SoA through e-mail only at some of the AMCs, what will happen to them?

Where the investor has opted for SoA through e-mail only, those folios may be excluded from physical CAS. However, 1st CAS in physical will be issued to them.

What will happen to no transaction Folios?

On the lines of transacted Folio, NIL transaction CAS will also be issued across the industry once in 6 months. The first such NIL transaction CAS will be sent in April 2012. Further, even in this case, for no PAN folios, individual Account Statements will be sent by the respective AMCs / RTAs

How the investors will know about this?

An addendum no No. - 31/2011-12 dated Oct 24, 2011 has been issued for the information of the investors. This becomes part of SID/SAI/KIM.

Currently, e-CAS is available on Karvy’s website and also through UTI MF website, how is it different from this CAS?

The e-CAS available through UTI MF website and on RTA website is consolidated based on the registered e-mail ID. PAN is used only as on optional field. However, in case of SEBI mandated CAS, consolidation is done based on PAN.

Whether the request logging for the individual account statement will continue on UTI MF website?

Yes, the service will continue for UTI MF Unitholders.

What is expected from investors?

Investors may register email Ids and mobile numbers to continue receiving SoA/ transaction alerts through e-mail/SMS after each transaction.

Investors should not share the copy of the CAS with any single AMC/RTA/distributors (in case of multiple distributors) in order to protect the data.

Investors may ensure to update PAN and KYC of all the holders in order to receive CAS.

 

Disclaimer:
The FAQs have been prepared based on UTI AMC’s understanding of the new SEBI guidelines on Consolidated Account Statement (CAS). This FAQ is only for a quick reference and for complete information, the investor may refer to the notification / circular issued by SEBI and the addendum issued by us on the subject. Investment in Mutual Fund is subject to market risks. Please read the respective Scheme Information Document (SID) of the Scheme (s) and the Statement of Additional Information (SAI) before investing.

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

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