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NISM Certifications · NISM-Series-V-A: Mutual Fund Distributors · Investor Services

An investor wants to hold mutual fund units in electronic form without receiving a physical statement of holding. Which document do the AMC or RTA send to such an investor after each financial transaction, in the form of an account statement?

The investor receives an account statement of holding, in practice a transaction confirmation or Consolidated Account Statement (CAS), because mutual fund units are held electronically. It records the units held. Share certificates, offer documents and sponsor reports do not serve that purpose.

  1. AShare certificate issued by the trustees
  2. BConsolidated Account Statement (CAS) or transaction confirmation for the unitsCorrect
  3. COffer document of the scheme
  4. DAnnual report of the sponsor

Explanation

Mutual fund units are held in account statement form (or demat). After transactions, investors receive a statement of holding such as the CAS or confirmation. Share certificates, offer documents and sponsor reports are not statements of unit holdings.

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