Reading a Mutual Fund Account Statement
CURRENT COST AND VALUE
The current value is the latest market value of the investments on the date the statement is generated, while the current cost indicates the amount invested in the scheme. The number of units allotted is calculated using the amount invested divided by the NAV of the scheme as on the date of allotment. In case there is an exit load, it would be deducted from the NAV and the proceeds paid out to the investor.
ADVISORíS NAME AND PAN DETAILS
If you have invested through an agent, his/her name and code will appear on the statement. However, if you have invested directly, these columns should be blank in your account statement. It is mandatory for you to provide your Permanent Account Number (PAN) irrespective of the amount you have invested. Check that the PAN mentioned in the account statement is correct.
This section mentions the types of transactions you have opted for, which might include purchase, systematic investment plan (SIP) or systematic withdrawal plan (SWP). Other transactions like the dividend paid out or reinvestments are also mentioned along with the percentage or rupees per unit at which the dividend is reinvested or paid out.
If you have invested in a mutual fund scheme, the fund house has to send you a statement with details of your investment. You can opt for a physical copy of the statement or a soft copy, which is emailed to you and which you can access online. This statement is sent to you within three working days of the transaction. Here are some important things you need to check in your statement.
PERSONAL DETAILS AND BANK DETAILS
Your name, address, e-mail ID and contact numbers of the investor or joint investors, if any, are mentioned in this section. Check if the name of your bank and account number is mentioned correctly, else you might face hassles when you redeem your mutual fund units. In case you need to change your bank mandate, fill up the slip provided at the bottom of the account statement and submit it to the fund house.
FOLIO AND ACCOUNT NUMBERS
Each time you invest in a mutual fund, the fund house gives you an account number. You could also invest in a number of schemes, such as a debt fund, an equity fund or a tax plan, with the same fund house. In this case, it would be wise to mention your account number so that the fund house can consolidate all accounts under a single folio. This makes it easier to track all the investments with a particular fund house.
Welcome to Indian Share Market
Your Desire to Earn
Disclaimer: Information presented on this site is a guide only. It may not necessarily be correct and is not intended to be taken as financial advice nor has it been prepared with regard to the individual investment needs and objectives or financial situation of any particular person. Stock quotes are believed to be accurate and correctly dated, but www.daytradingshares.com does not warrant or guarantee their accuracy or date.
www.daytradingshares.com takes no responsibility for any investment decisions based on recommendations provided on website.
Financial contents like Technical charts, historical charts and quotes are taken from NSE and Yahoo sites.
Note - All quotes are delayed by 15 minutes and unless specified.
Google Adsense Ads are posted on every page of the website so visitors clicking on Ads and going to those links and carrying any financial deal is not at all related to www.daytradingshares.com and any financial deal should be done on their own sole responsibility.
Please read at www.daytradingshares.com/disclaimer.php before using any material or advice given at www.daytradingshares.com
Copyright © 2012 DayTradingShares.com. All Rights Reserved