What is Consolidated Account Statement (CAS)? Meaning, Definition & How It Work

A Consolidated Account Statement, or CAS, is a single statement that brings your mutual fund and demat holdings together. It links them through your PAN (Permanent Account Number, the 10-character ID issued by the Income Tax Department). A demat account is the account that holds your shares and other securities in electronic form. A folio is your account with a fund house, also called an asset management company (AMC).

SEBI, the securities market regulator, asked for CAS in a circular dated 12 November 2014. Before that, an investor with funds at several fund houses and a demat account received a separate statement from each one. Piecing together a full picture meant opening many emails and PDFs.

Today the statement comes from the two depositories, NSDL and CDSL (they hold securities electronically, much like a bank holds money), or from the mutual fund registrars CAMS and KFintech (firms that keep unit records for fund houses). You may also see it called a CAS statement, an e-CAS (the emailed version) or a consolidated mutual fund statement.

Did You Know?
On 7 October 2026, the RBI allowed depositories to add bank deposit details to the CAS through Account Aggregators (licensed firms that share your financial data with your consent). Business Standard reports that this is expected to be in place by 31 December, starting with banks that have already signed up. Treat the timeline as a target until NSDL and CDSL confirm it.

How Does a CAS Work?

Think of a CAS as a monthly match-up. Fund houses report your mutual fund transactions, depositories report your demat activity, and your PAN is the thread that joins the two.

1. Fund houses share data. Within five days of month end, fund houses and their registrars send transaction records, along with PANs, to the depositories. SEBI raised this deadline from three days to five in 2025.
2. Depositories match PANs. NSDL and CDSL look for PANs that appear in both the mutual fund records and their own demat accounts.
3. The right sender is chosen. For a matching PAN, the depository sends one combined CAS. If your PAN has only mutual fund holdings, the registrars send a mutual fund only CAS.
4. The statement reaches you. Since 2024, email is the default way to send CAS. The e-CAS goes out by about the 12th of the next month, and a paper copy, if you asked for one, by about the 15th.
5. Quiet months get a lighter statement. If you made no transactions in any folio or demat account, you get a half-yearly CAS with your holdings only, in April and October.

You can also create a CAS yourself at any time. MFCentral, the portal run jointly by CAMS and KFintech, lets you download a CAS for the current or previous financial year, or for any period up to 365 days.

Pro Tip
Open your CAS in the first fortnight of the month and tick off every folio and demat account against your own list. A missing line usually points to a PAN or email problem.

Example of a CAS with Real Numbers

Calculation: share of total = holding value ÷ total value × 100. For the flexi cap fund, 4,20,000 ÷ 12,00,000 × 100 = 35%.

This means Rohan now sees one ₹12,00,000 portfolio instead of four separate statements. He also notices that all four holdings depend on the stock market, so a sharp fall would hit the whole amount. The CAS marks nomination as not registered for one folio, so he asks that fund house to add it.

Types of CAS

A CAS comes in a few forms, depending on who sends it and how much detail you ask for.

Depository CAS (NSDL or CDSL)

This is the combined statement. It covers both your mutual fund folios and your demat holdings, and it is sent when your PAN appears in both sets of records. It goes out every month in which you have a transaction.

Mutual fund CAS (CAMS or KFintech)

If your PAN has mutual fund units but no demat holdings, the fund registrars send a statement that covers only your mutual funds across fund houses. You also get an account statement from each fund house within five working days of a transaction, if your email is registered.

Summary and detailed CAS on MFCentral

When you generate a CAS yourself, MFCentral asks you to pick a summary or a detailed version. A summary CAS shows what you hold. A detailed CAS also lists the purchases, redemptions and other transactions behind those holdings. You can choose a period of up to 365 days.

Key Components: What to Look For in Your CAS

1. Investor details. Your name, registered email and holding pattern appear at the top. Your mobile number shows with the middle digits masked. PAN and bank details are left out.
2. Folio and demat details. Each mutual fund folio and each demat account is listed with the scheme name and its ISIN (a unique code for every security). Check that no account you own is missing.
3. Purchases, redemptions, switches between schemes, SIPs, SWPs, STPs, dividends and bonus units all show up here. Read them against your own bank debits.
4. Opening and closing balances. These show the units you held at the start and end of the period, and their value at the NAV (net asset value, the price of one unit) on the last day.
5. Nomination and KYC status. The CAS shows whether a nominee is registered and whether your KYC is in order for each portfolio. Gaps here can delay claims and transactions later.

Benefits of a CAS

1. One view of everything. Many Indian investors start SIPs through different apps and end up with folios at five or six fund houses. A CAS lists them all together, so you can judge how your money is spread out and how much sits in each asset class.
2. Early warning on errors. A monthly list of transactions helps you catch a wrong amount, a missed SIP or an entry you do not recognise while it is still fresh.
3. Help at tax time. A detailed CAS shows purchase and sale dates, which you need to work out your capital gains and whether they are long term.
4. A starting point for family and advisers. If something happens to you, your family can use a recent CAS to see which funds and demat accounts exist. An adviser can also use it to review your whole portfolio.

Risks and Limitations of a CAS

1. It is not your whole net worth. A CAS covers mutual funds and demat securities. It leaves out EPF, PPF, NPS, insurance, property and, for now, bank deposits. Keep a separate master list of these.
2. Accounts can go missing. A folio with a missing or different PAN, or one with no transaction in the month, may not appear. If a portfolio is missing, check that PANs are updated for all holders and then contact the fund house or registrar.
3. Joint and minor accounts need care. For joint holdings the first holder’s PAN is used, and portfolios held for minors are not consolidated. Review these accounts separately.
4. It holds sensitive data. Your CAS lists every holding you own. Download it only from official portals and avoid uploading it to apps or sites you do not know.
5. It reports, it does not advise. A CAS tells you what you own. It does not tell you whether the mix suits your goals, risk level or asset allocation.

Important
A clean CAS does not mean nothing is missing. It only shows what is linked to the PANs and emails on record, so check that every account you own has the right PAN and an active email.

Frequently Asked Questions

1. What is a Consolidated Account Statement (CAS)?

A Consolidated Account Statement (CAS) is a single statement that combines your mutual fund transactions across all fund houses with the securities held in your demat account. It is built using your PAN. It is sent by NSDL, CDSL, CAMS or KFintech, so you do not have to collect a separate statement from each fund house or broker.

2. Who sends my CAS: NSDL, CDSL, CAMS or KFintech?

It depends on where your PAN appears. If it is in both mutual fund and demat records, NSDL or CDSL send a combined CAS. If you hold only mutual funds, the registrars CAMS or KFintech send a mutual fund only CAS. Your demat account decides whether it is NSDL or CDSL, since that is the depository your broker uses.

3. How often will I receive a CAS?

You get a CAS every month in which you make a transaction in any mutual fund folio or demat account. If there are no transactions at all, you get a half-yearly CAS with your holdings, in April and October. Email is the default delivery mode. If you prefer paper, you can ask for a physical copy at your registered address.

4. How can I download a CAS myself?

You can generate one on MFCentral, the portal run by CAMS and KFintech. Register with a login first, then choose a summary or detailed CAS. You can pick the current or previous financial year, or any period up to 365 days. CAMS and KFintech also offer an emailed e-CAS, and NSDL and CDSL provide statements for demat accounts.

5. Why is my mutual fund or demat account missing from my CAS?

The usual reasons are no transaction that month, a missing or different PAN on one of the accounts, or a minor’s portfolio, which is not consolidated. Confirm the account had a transaction, then check that the PAN is updated for every holder. If both are fine, write to the fund house or registrar and ask them to look into it.

6. Is a CAS the same as a statement from my fund house or broker?

No. A fund house statement covers only that fund house, and a broker or demat statement covers only that demat account. A CAS joins them under one PAN. Fund houses still send you an account statement within five working days of each transaction if your email is registered, so the CAS adds to those statements and does not replace them.

7. When should I use my CAS to review my portfolio?

Open it at least once a month to check transactions, and look at it closely before tax filing, before a big goal such as a down payment, and whenever you change advisers. A CAS shows what you own but not whether it fits your plan. A fiduciary planner can use it to review your mix and rebalance where needed.