Tracking lost mutual fund investments
“He may be forgotten, but He certainly is not gone!”– Anonymous
- It becomes difficult to track investments made long back, especially if you don’t have details like folio number of the investment.
- Consolidated account statement provided by NSDL and CDSL (only if you have a demat account) is a way to get your stock and mutual fund holdings statement. This is a PAN based investment statement. In case, you have made investments during period when PAN was not mandatory and you didn’t give PAN at the time of investment, this will not provide details of those investments
- Consolidated account statement request can be placed on the website of Karvy. However, it is E-MAIL based statement and if you didn’t give your email at the time of investment, this may not work.
- The main challenge is in tracking those investments where neither PAN card number nor E-MAIL was provided. Read on to know what to do in such cases.
We read many stories on the loss and destruction caused by floods in Kerala. Lot of people who keep physical unit holding statements lost the same. These types of calamity often lead to loss of some important documents. In today’s world, it is always a good idea to keep soft copies of degrees, investments etc on google drive or in your email. This will help in easy retrieval of lost documents.
Regulation of financial investments in India has undergone rapid changes in last few years. Now PAN card and aadhar card is almost mandatory for most financial investments. Recently, when I was looking to shift my home loan, I was told to provide both PAN card, Aadhar card. In my view, it is good. This will mean that investments will be easier to retrieve in future.
There was a time when PAN card was not needed for making mutual fund investments. Even now, in certain cases, exemption from providing PAN is available. Many times, I have been asked how to track forgotten mutual fund investments. Father of a friend made some investments in mutual funds around 2001-02. The advisor through whom he made these investment is no longer there. They were unclear how to track those investments. Here I give some ideas on tracking forgotten mutual fund investments.
Consolidated account statement by NSDL and CDSL?
If you have a demat account, chances are that you are receiving monthly consolidated account statement in your email. Demat service providers take the services of depositories, namely, CDSL and NSDL. If your email is available in your demat account profile, you should receive the consolidated account statement. In case you are not receiving monthly CAS, you can register for the same. First check who is the depository for your demat account. If for example, NSDL is the depository, visit https://nsdlcas.nsdl.com/ .For CDSL, visit https://www.cdslindia.com/cas/logincas.aspx .
On these websites, you can subscribe for CAS for following the instructions given on the webpage. Some important points:
- You need to have demat account to receive CAS. If you don’t have demat account, you will not receive CAS.
- This is PAN based statement. Mutual fund investments where PAN card number was not given will not be included in this statement.
- The statement is sent on monthly basis, if you have done transaction in the preceding month. Else, it is sent on semi-annual basis.
Consolidated account statement by Karvy, CAMS – for mutual fund investments
Not all mutual fund investors invest in stocks as well. So, they might not have a demat account. In that case, the NSDL or CDSL consolidated account statements will not be available. However, there is nothing to worry about. You can still get hold of all mutual fund holdings IF you gave your email id at the time of mutual fund investments. In that case, you can visit at the below website
In case you gave different email id at different times, you will need to generate consolidated account statement for each email id and then consolidate.
Tracking mutual fund investments where no PAN card or email was given
CAMS, Karvy, Franklin and Sundaram are the four registrar and transfer agency (RTA) that process all mutual fund transactions. If you remember the name of mutual fund company in whose scheme you made investments, then find the name of RTA that facilitates the transaction for that particular mutual fund company. It can be found by visiting the website of the RTAs.
For example, say, you made investments in HDFC mutual fund scheme. So, CAMS is the RTA for HDFC mutual fund. CAMS has offices in most cities in the country. Search for the nearest CAMS centre. Then approach the nearest CAMS office along with your id and address proof. The CAMS officials will then ask for some more details like date of birth, bank account details, contact number etc to locate your investments. It can take time but most probably you will be able to locate your lost investments.
Once you have located the mutual fund investments
Try to update your address, email, PAN card and aadhar number in all your folios so that they are easier to track in future. Most of this can be done by doing fresh KYC (know your customer). You might have to make a paper application for addition of email, change of mobile number. Further, from portfolio perspective, try to limit number of mutual fund holdings as larger the number of schemes in your portfolio, the more difficult it becomes to track the same.
Hope this helps, happy investing
Disclaimer: The above content is just for information and should not be construed as an offer to buy or sell or recommendation. Contact your financial advisor for guidance on any investment related query.
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