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The Securities and Exchange Board of India (Sebi) on Wednesday announced a single consolidated view of all the investments of aninvestor in Mutual Funds (MF) and securities held in demat form with the Depositories.
Depositories and the Asset Management Companies (AMCs) will now have to put in place systems to facilitate generation of single Consolidated Account Statements (CAS) for investors having MF investments and holding demat accounts.
Consolidation of account statement shall be done on the basis of Personal Account Number (PAN).
In case investors have multiple accounts across the two depositories, the depository having the demat account that was opened earlier would be the default depository which will consolidate details across depositories and MF investments, said the regulator in a circular.
This move from the regulator is pursuant to an announcement in the budget for creation of one record for all financial assets.
