How to Consolidate your Mutual Fund Portfolio!

In my earlier posting, I had discussed about how to manage your mutual fund investment as we can do so by registering online access to our mutual fund schemes. But if you have several folios in same fund house, so registering for each and every folio is very time consuming, plus its difficult to remember login and passwords of all your folio's.

Like i observed i have 5-6 customer folios in one fund house, and I had created login and passwords for each folio but then it is very time consuming to keep track of all, as i was actually looking for consolidated portfolio, as which help me to get access of all my investment in one customer folio and have one login id and password for the same and that also helps me to buy and sell and don't need to remember user id, password, folio and secret question of each and every login. Finally i was able to do so.

How

In mutual fund, we have option to consolidate our mutual fund schemes (of same fund house) in one customer folio but to apply for consolidation, their should be uniformity in the details like:

• All Holders’ names – should be in the same order in all folios
• Address
• Tax Status of the Investor
• Holding nature – Joint or either or survivor

 If the above details are the same in your folios, the same can be consolidated into one single folio called the ‘Target folio’. Some Mutual Funds may have slightly different guidelines and investors may contact the Mutual Fund or Registrar to get more information on these details. 

   

How to go ahead:
 You can  submit a simple, signed request letter to the Mutual Fund / Transfer Agent asking for the consolidation of the multiple folios in the Mutual Fund into any one of existing folios. The folio numbers should be mentioned in the letter. Consolidation can be done subject to the fulfillment of some conditions.

Format:

 

                                                                                                      Date:                   

To,                                                                   

……………………………………………………

…………………………………………………….

………………………………………………………

Dear Sir,

Subject: Request for consolidation of multiple folios into a single folio

We, …………………………………………………..   and ……………………………………………… are holding investments in certain schemes of ......................... Mutual Fund, under the following folio numbers:

Sl. No.	Folio Number	Scheme Name
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.

We would like to consolidate all our aforesaid folios into a single folio number i.e______________ and would accordingly request you to do the needful in this regard.

Yours Sincerely,

(Name of Investor)

2. How to get  Consolidated  Mutual Fund Portfolio!


Visit here: https://www.camsonline.com/invmailback/ConsAcstmtMBreq.aspx

Investors can now request for a Consolidated Account Statement across his entire holdings in KARVY, CAMS and FTAMIL serviced Mutual Funds. Since there exist other Funds that are not serviced by either KARVY or CAMS or FTAMIL, this will not be an industry consolidation, but it will certainly be a massive step forward for investors. If you have registered an email address in your folios across Funds serviced by KARVY, CAMS and FTAMIL, you can use this to obtain a consolidated PDF Account Statement at your registered email address.

CAMS, Karvy and FTAMIL have individually provided great convenience to investors by allowing them to see a consolidated view of their holdings within the verticals of their respective serviced Funds. Such statements are sent via Mailback, and are well established and accepted by the stakeholder community.