Tracking your mutual fund investments

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I get many requests from friends and colleagues about how to track mutual fund investments carried out in the past and lost track of since then.  In some cases, they do not even know which mutual fund scheme they have invested in.

An investor can have investment in numerous mutual fund schemes of several mutual fund companies over a period of time.  Though one receives transaction statements and annual statements via email / post from such mutual fund companies regularly, these statements are fund specific.  In order to analysis all mutual fund investments, one needs to consolidate all such statements received.  Thus it becomes difficult to keep track of all the investments made with various mutual fund companies, their current status and calculate profit or loss on the same.

Mailback Services

Here the mailback services offered by CAMS and Karvy come handy.  These two transaction processing companies provides gamut of mailback services to enable investors to keep track of mutual fund investments.  The good thing about these services is it requires only an email id which is registered with mutual fund company.  By specifying the registered email id, one can obtain transaction details of all mutual fund schemes linked to the registered email id.  One can also track investment through PAN Number or Folio Numbers.

Services provided by CAMS:

1. Consolidated ActiveStatement / Account Statement:  By providing the registered email id, one receives the details of all the transactions link to that email id.  Consolidated ActiveStatement is interactive wherein one can click and view the transactions carried out and check portfolio composition.  One can also redeem, purchase or do any other transaction from the Statement itself by clicking on the link provided.  Consolidated Account Statement is PDF file which list down all the transactions carried out over the specified period.

2. Consolidated Portfolio Statement: This provides portfolio details about the mutual funds managed by CAMS.  It gives the cost, market value and return details.

3. Consolidated Realised Gains Statement: In case one has sold any mutual fund investment, this statement provides the details about the profit made on such investments and also calculate the capital gains on such investments.

4. Consolidated Transaction Details:  Similar to Consolidated Account Statement, however here the statement is provided in excel format to carry out analysis / reporting.

5. Single Folio Account Statement:  In case one has not registered any email id, one can obtain folio statement by specifying the folio number.

Karvy also provides similar mailback services for mutual fund managed by them.

Click here for CAMS mailback services.

Click here for Karvy mailback services.

These services are extremely useful for a mutual fund investor and one can keep track of past as well as existing mutual fund investments through these services.

Have you used any of the above mailback services till date?  Do you find these services useful?  Share your comments on these services below.

End note:  Consolidated Account Statement gives listing of all mutual fund investments irrespective of whether it is managed by CAMS or Karvy.  However, all other reports are limited to mutual fund managed by these agencies.  For eg:  CAMS site shall provide report of only those mutual funds which are managed by CAMS.  Hence one need to check which agency covers the mutual fund one has invested in and obtain the report accordingly.  The listing of mutual funds managed by CAMS and Karvy is as follows:

CAMS managed mutual funds	Karvy managed mutual funds
AIG Mutual Fund	Axis Mutual Fund
Birla Sun Life Mutual Fund	Baroda Pioneer Mutual Fund
BNP Paribas Mutual Fund	Goldman Sachs Mutual Fund
DSB Blackrock Mutual Fund	Bharti Axa Mutual Fund
Fidelity Mutual Fund	Canara Robeco Mutual Fund
HDFC Mutual Fund	Daiwa Mutual Fund
HSBC Mutual Fund	Edelweiss Mutual Fund
ICICI Prudential Mutual Fund	Franklin Templeton Mutual Fund
IDBI Mutual Fund	JM Mutual Fund
IDFC Mutual Fund	LIC Nomura Mutual Fund
IIFL Mutual Fund	Mirae Assets Mutual Fund
ING Mutual Fund	Morgan Stanley Mutual Fund
JP Morgan Mutual Fund	Motilal Oswal Mutual Fund
Kotak Mutual Fund	Peerless Mutual Fund
L&T Mutual Fund	Pramerica Mutual Fund
SBI Mutual Fund	Principal Mutual Fund
Tata Mutual Fund	Quantum Mutual Fund
Union KBC Mutual Fund	Religare Mutual Fund
	Reliance Mutual Fund
	Sahara Mutual Fund
	Tata Mutual Fund
	Tarus Mutual Fund
	UTI Mutual Fund

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Interest rates on PPF and other savings schemes revised from 1st April

On 1st December 2011, Government had aligned interest rates on small savings schemes such as PPF, NSC, etc with rates of Government securities.  Further the rates were to be reset in April month every year based on market rates prevailing at that point of time.


On 26th March, Government has announced rates on such schemes which shall be applicable from 1st April 2012 till 31st March 2013.  Rates for all the schemes, except for savings deposits, have been increased between 20 basis points to 50 basis points.  100 basis points is one percentage.


The table below compares the existing rate of interest with the new rates.

Scheme	Existing interest rate	Interest rate w.e.f 1st April 2012
Savings Deposits	4.0	4.0
1 Year Time Deposit	7.7	8.2
2 Year Time Deposit	7.8	8.3
3 Year Time Deposit	8.0	8.4
5 Year Time Deposit	8.3	8.5
5 Year Recurring Deposit	8.0	8.4
5 Year SCSS*	9.0	9.3
5 Year MIS	8.2	8.5
5 Year NSC	8.4	8.6
10 Year NSC	8.7	8.9
PPF	8.6	8.8

*SCSS is Senior citizen savings schemes.  


For more details about these schemes and changes made therein last year, click on this link.

How much of your bank account deposits are secured?

The money in your bank account is covered under the deposit insurance scheme up to Rs. 1,00,000.  i.e. if the bank is wound up or liquidated (closed), money kept with the bank to the extent of Rs. 1,00,000 is secured and shall be paid back to the account holder under the deposit insurance scheme.

However, the above limit can be increased to one’s benefit if right set of accounts are open with the bank.  For a family of husband, wife and a child, there is a possibility to cover up to Rs. 7,00,000 under the deposit insurance scheme.  Hence it is necessary to understand this scheme to know which types of accounts are covered and how the limit of Rs. 1,00,000 is determined.

Which banks are covered under the scheme?

There is a belief that this benefit is available only if one has money in public sector banks.  However, it is not so.  All commercial banks including private sector banks and branches of foreign banks functioning in India are covered under the scheme.  Further all co-operative banks other than those from the states of Meghalaya, Mizoram, Nagaland and Union Territories of Chandigarh, Lakshwadeep and Dadra & Nagar Haveli are covered.

How is the limit of Rs. 1,00,000 is determined?

Deposits of each depositor in a bank is insured up to maximum of Rs. 1,00,000 for both principal and interest amount held by him in the same right and same capacity.

Let us analyse the implication of the underlined words in the above statement.

Deposits include savings, fixed, current and recurring deposits.  Thus all types of deposits which we generally keep with the bank are covered under the scheme.

Deposits of each depositor in a bank means the limit is bank specific.  Thus if you have accounts in two different banks, then both are covered to the extent of Rs. 1,00,000 separately.  However, remember that it shall not help if you spread your amount in different branches of the same bank.  The limit specified is per bank and not per branch.

Rs. 1,00,000 limit covers both the principal and interest amount.  For example, if you had a fixed deposit of Rs. 95,000 on which interest of Rs. 8000 has been accrued over a period of time, your deposit in the bank totals to Rs. 1,03,000 and it shall be covered to the extent of Rs. 1,00,000.

Same right and same capacity

Deposits which are held in the same right and same capacity are aggregated to calculate Rs. 1,00,000 limit.  What does one mean by ‘same right and same capacity’?

If you have a savings account and a fixed deposit account in your name, both the accounts are considered in the same right and same capacity and the insurance coverage under the scheme shall be limited to Rs. 1,00,000.

Now suppose, you have a joint account along with say your spouse.  This account is considered in a different right and different capacity and the insurance coverage is provided separately.  Thus in this case the total coverage shall be Rs. 2,00,000 (Rs. 1,00,000 for the amount in savings and fixed deposit account and Rs. 1,00,000 for the amount in joint account).

Next obvious question which arises is whether the order of names appearing in joint account affects the insurance cover?  The answer is no and all the joint accounts with same names (though in different order) are clubbed and the limit of Rs. 1,00,000 apply to them. 

Examples given by RBI to understand the concept of same right and same capacity

Coverage of deposits held in joint account

Account (i)	1st holder: Shri A. K. Sharma 2nd holder: Smt. B. Sharma	Maximum insured amount up to Rs. 1,00,000
Account (ii)	1st holder: Shri A. K. Sharma 2nd holder: Shri P. Sharma	Maximum insured amount up to Rs. 1,00,000
Account (iii)	1st holder: Smt. B. Sharma 2nd holder: Shri A. K. Sharma	This Account will be clubbed with Account (i)
Account (iv)	1st holder: Shri A. K. Sharma 2nd holder: Smt. B. Sharma 3rd holder: Shri P. Sharma	Maximum insured amount up to Rs. 1,00,000
Account (v)	1st holder: Smt. B. Sharma 2nd holder: Shri P. Sharma 3rd holder: Shri A. K. Sharma	This Account will be clubbed with Account (iv)

Source: RBI

Accounts held in different capacities

Account Name	Savings	Current	FDs	Total Deposits	Deposits Insured
S K Pandit (Individual)	17,200	22,000	80,000	1,19,200	1,00,000
S K Pandit (Partner of ABC & Co.)		75,000	50,000	1,25,000	1,00,000
S K Pandit (Guardian for Master Ajit)	7,800		80,000	87,800	87,800
S K Pandit (Director, J K Udyog Ltd)		2,30,000	45,000	2,75,000	1,00,000

Source: RBI

From the above, it can be seen that by having combination of accounts one can increase the insurance coverage.  For a family of husband, wife and a child, one can have three individual accounts in each of their names.  Further one can have four joint accounts in the combination of husband, wife and child’s name.  Thus one can have seven accounts all in different rights and different capacities and insurance cover of Rs. 1,00,000 shall apply to each of them separately and total cover of Rs. 7,00,000 shall be available.  And remember all in one bank!!