CDSL CAS is a statement consisting of transactions and holdings in investor's demat account(s) held with CDSL and NSDL as well as in units of Mutual Funds held in Statement of Account (SOA) form. i.e The statement enables a consolidated view of all the investments of an investor across demat accounts and mutual fund units held with MF-RTA.
Pursuant to the Interim Budget announcement in 2014 to create one record for all financial assets of every individual, SEBI had extensive deliberations with the Depositories, AMFI and RTAs of Mutual Funds (MF-RTAs) to implement it with respect to financial assets of securities market. As a first step in this direction, SEBI has decided to enable a single consolidated view of all the investments of an investor in Mutual Funds (MF) and securities held in demat form with the Depositories. SEBI vide its circular no. CIR/MRD/DP/31/2014 dated November 12, 2014 mandated depositories to issue a Consolidated Account Statement (CAS) from the month of March 2015 with respect to the transactions carried out during the month of February 2015.
As mentioned in SEBI circular no. CIR/MRD/DP/31/2014 dated November 12, 2014, if there is any transaction in any of the demat accounts of an investor or in any of his mutual fund folios, then CAS shall be sent to that investor on monthly basis. In case there is no transaction in any of the mutual fund folios and demat accounts then CAS with holding details shall be sent to the investor on half yearly basis i.e holdings of March and September end will be sent in April and October respectively.
As per SEBI guidelines the consolidation of account statement is done on the basis of Permanent Account Number (PAN). In case of multiple holding, it is based on PAN of the first holder and pattern of holding. Based on the PANs provided by the AMCs/MF-RTAs, the Depositories match the PANs available in the demat account of the clients to determine the common PANs and allocate the PANs among themselves for the purpose of sending CAS. For PANs which are common between Depositories and AMCs, the Depositories send the CAS. In other cases (i.e PANs with no demat account and only MF units holding), the AMCs/MF-RTAs shall continue to send the CAS.
In case investors have multiple demat accounts across the two depositories, the depository having the demat account which has been opened earlier shall be the default depository which will consolidate details across depositories and MF investments and dispatch the CAS to the investor.
Yes, the investor can request for change of default depository to receive the CAS by informing the Depository Participant (DP) of the default depository from whom he is receiving the CAS.
Yes. If an investor does not wish to receive CAS he should inform the same to any of his Depository Participant (DP) who will update the same in the depository system.
CDSL CAS will include all types of transactions executed by the BO in their demat account(s) across depositories & all financial transactions such as New Fund Offer, fresh purchase, additional purchase, redemption, switch in and out, dividend reinvestment, dividend accrued, systemic transaction such as SIP / SWP / STP, bonus, merger, etc. as provided by the MF-RTAs to CDSL in respect of Mutual Funds folios.
No. If mutual fund units are only held in demat account with the depositories then CAS will not be generated and the transaction statement for the demat account will be sent by the respective Depository Participant (DP). CAS will be sent to those investors holding mutual fund units in SOA form with MF RTA and holding demat account(s).
To ensure receipt of CDSL CAS by email the BO should update his email id with his CDSL Depository Participant (DP) along with consent for receiving transaction statements by email.
Some of the benefits of e-statement are :
Investor will be required to enter PAN of the first/sole demat account holder in CAPITAL letters as a password to open the eCAS.
Yes. The BO can download the CAS statements dispatched to him by CDSL from the ‘CAS’ tab available on CDSL website, www.cdslindia.com