What is a Consolidated Account Statement (CAS)?
What is a Consolidated Account Statement?
A Consolidated Account Statement (CAS) is a single statement that shows an investor's transactions and holdings across all mutual funds, along with securities held in dematerialised (demat) form. It is generated on the basis of your Permanent Account Number (PAN), which acts as the common thread linking folios that would otherwise sit in separate silos across different fund houses.
Before CAS existed, each fund house sent its own account statement, and demat holdings were reported separately again. If you held ten funds across five AMCs, you received five separate statements and had to add them up yourself. The framework followed the 2014 Interim Budget's stated goal of one record for all financial assets of every individual, and SEBI mandated CAS through a circular in November 2014, implemented from March 2015.
Who Issues Your CAS?
Two different sets of institutions issue CAS, and which one you receive depends on what you hold. Where your PAN appears in both the depository records and the registrar records — meaning you hold both demat securities and mutual fund units — the depositories issue a CAS covering both. Where there is no common PAN between the registrars and the depositories, the mutual funds send a CAS containing only your mutual fund transactions.
| Type of CAS | Issued by | What it covers |
|---|---|---|
| Depository CAS | NSDL or CDSL | Mutual fund folios and demat holdings together — the more complete version |
| RTA / Mutual Fund CAS | CAMS or KFintech | Mutual fund holdings only, where units are held in Statement of Account form |
You only ever need one statement. A CDSL statement already includes NSDL holdings and vice versa, and a statement from either CAMS or KFintech covers funds serviced by both registrars, because the two share data with each other. You can verify registrar and fund house details on the AMFI website.
How Often Is CAS Sent?
CAS is generated monthly for folios and accounts where a financial transaction took place during that month — a purchase, a redemption, a switch, or a SIP instalment will each trigger a statement. If you had no transactions at all, you do not receive a monthly statement. Instead, you receive a half-yearly CAS showing holdings as of the end of March and the end of September, so even a completely dormant portfolio still produces two statements a year.
Summary CAS and detailed CAS
AMFI allows investors to generate two versions. A summary CAS gives a single consolidated view of holdings across demat accounts and mutual fund folios, while a detailed CAS breaks down each investment with information such as purchase dates, unit quantities and transaction costs. If you are reconciling records or preparing tax figures, the detailed version is the one to request.
How to Download Your Consolidated Account Statement
You do not have to wait for the email to arrive. CAMS and KFintech both provide online access for mutual fund holdings, while NSDL and CDSL offer the equivalent facility where demat holdings are involved. In each case you enter your PAN and verify your registered email address, after which the statement is delivered as a password-protected PDF, either emailed to you or downloaded directly.
The PDF opens with your PAN in uppercase followed by your date of birth in DDMMYYYY format. For a PAN of ABCDE1234F and a date of birth of 5 January 1990, the password would be ABCDE1234F05011990.
Why the CAS Is Worth Reading
Treating CAS as just another automated email is a missed opportunity. Old folios from funds bought years ago, or through a distributor you no longer deal with, still appear as long as they are tagged to your PAN — many investors discover holdings they had genuinely forgotten about. A consolidated view is also the starting point for any serious look at asset allocation, since you cannot rebalance a portfolio you cannot see in full.
Because CAS documents transactions, capital gains and IDCW payouts in one place, it makes preparing capital gains figures for your income tax return considerably less painful than assembling them from separate statements. It also surfaces errors early — a missing SIP instalment, a wrongly recorded bank mandate, or an outdated address usually shows up here first. One limitation worth knowing: a minor's portfolios are not consolidated into a guardian's CAS, because different mutual funds may record different guardians for the same minor.
- CAS is a single PAN-linked statement covering all your mutual fund folios and, in many cases, your demat holdings too.
- Depositories (NSDL/CDSL) issue it when you hold both demat and mutual fund units; registrars (CAMS/KFintech) issue it for mutual funds alone.
- It arrives monthly when you transact, and half-yearly (March and September) when you don't.
- You only need one statement — CAMS and KFintech share data, as do NSDL and CDSL.
- The PDF password is your PAN in uppercase followed by your date of birth in DDMMYYYY format.
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Disclaimer: This article is for educational and informational purposes only and should not be considered investment advice or a recommendation to buy, sell, or hold any mutual fund or security. Mutual fund investments are subject to market risks. Please read all scheme-related documents carefully before investing. Past performance is not indicative of future results.