Verify Funds India statements with AMC statements

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Funds India sends out consolidated monthly statements across all mutual fund companies for their account holders. This is in addition to the quarterly statements you would get from the AMC directly.

You can always get your mutual fund statements from AMC directly any point of time quoting the Folio number. You can get this from camsonline website.  Camsonline and Karvy are the two RTA who manage most of the AMC accounts in India. Franklin Templeton RTA manages their own AMC.

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But if you wish to do any transaction, use ONLY use Funds India website. This will keep the Funds India data and AMC data in sync.

In terms of SEBI Circular No IMD/SM/7179/2010 dated June 2nd 2010 unit holders have been allowed unfettered and unrestricted access to transact at AMC/ RTA. While this facility is available, I would suggest all of you to do any important transactions via Funds India. This is because if there is a change is done in AMC database and if Funds India is not aware of those changes, there could be a mismatch of data between AMC database and Funds India database. This could result in confusion or delay the redemption or purchase transactions. Address change, Bank account change, nomination etc should be done via Funds India. Also at any point of time avoid doing new purchase or sale transactions directly with AMC. This could result in your online account being converted to offline holding.

Happy Investing !

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