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How to read your CAS

Your consolidated account statement (CAS) is the most complete record of your mutual fund investments. It is worth knowing your way around it.

The CAS is issued by the registrars, CAMS and KFintech, who keep the official unit records for mutual funds in India. Layouts differ a little between the two and change over time, but the parts below appear in both.

Your details and the period

At the top: the name, email, address and mobile number registered with your folios, the statement period, and often a summary of value by fund house. FolioQ does not store any of these personal details.

Folios

A folio is your account number with one fund house. You may have several with the same fund house if you invested through different platforms or at different times. Each folio shows your PAN and KYC status and lists the schemes held in it.

Scheme heading

For each scheme you will see:

  • the full scheme name, which includes the plan (Direct or Regular) and the option (Growth or IDCW, formerly called dividend);
  • the ISIN, a unique code for that exact plan and option;
  • the registrar, and often an adviser or distributor code.

“Direct” means you bought without a distributor. A Regular plan with an ARN code means a distributor is paid a commission out of that plan's expenses.

Opening unit balance

The units you held on the first day of the statement period. If this is not zero, your statement does not go back to your first purchase. That is the most common reason FolioQ marks an XIRR as an estimate. Request a statement with an earlier start date to fix it; the CAS guide shows how.

Transactions

Each row has a date, a description (purchase, SIP instalment, redemption, switch in or out, IDCW reinvestment), the amount in rupees, the NAV used, the units added or removed, and your running unit balance. You will also see small rows for stamp duty or tax deducted. These carry no units and do not change your holding.

Closing balance and valuation

At the end of each scheme: the closing units, the NAV on the statement date, the market value, and in most statements a cost value, meaning what you paid for the units you still hold.

Detailed versus summary

A summary CAS shows only closing balances. A detailed CAS shows every transaction. To calculate XIRR you need the detailed one, covering your full history.

Worth checking once a year

  • Every folio you expect is there, and none you do not recognise.
  • Your PAN and KYC status are correct on every folio.
  • You know which holdings are Regular plans and whether that was your choice.

FolioQ does this reading for you, but understanding the statement makes the numbers easier to trust.