CAN for consolidated account statement?

I have investments across five mutual fund houses. Do I apply for CAN to receive a consolidated account statement? What is the procedure?
- Lakshminarayanan

You do not need Common Account Number (CAN) to obtain a consolidated account statement of your mutual fund investments. If you have registered an email address in your folios across funds serviced by KARVY, CAMS, FTAMIL and SBFS, you can use this link (https://www.karvymfs.com/platformservice/) to obtain a consolidated account statement at your registered email address.

You can upload and import the consolidated account statement into ValueResearchOnline's free Portfolio Manager in minutes. Once you do this, you can get a detailed analysis that will give you more insight into your investments than you can get in any other way. Here is the link.

If you obtain CAN from MF Utilities, you can transact in multiple mutual funds using a Common Transaction Form and making a single consolidated payment for purchases. If you have CAN, you also don't have to fill up an Account Opening Form every time you transact in a new mutual fund. You can also eliminate duplication of procedure and documentation and update all changes in one place. CAN will also facilitate registration of one bank mandate for multiple SIP registrations using a CTF in schemes across mutual funds.

This article was originally published on November 23, 2015.