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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Consolidated monthly mutual fund account statements aggregating investor holdings by PAN; half-yearly for inactive folios, per board timelines</h1> Asset management companies must issue a consolidated account statement monthly for each calendar month within timelines specified by the Board, detailing all transactions, month-end holdings and distribution commission paid to its distributor across all schemes of all mutual funds for every investor with any transaction that month, resulting in a single monthly consolidated statement per such investor. For investors with no transaction during the preceding six-month period ending in September or March, the statement shall be issued half-yearly per Board timelines, resulting in reduced periodicity for inactive folios. Asset management companies must identify common investors across mutual funds by Permanent Account Number, resulting in aggregation of holdings by PAN. The term 'transaction' includes purchase, redemption, switch, IDCW payout, IDCW reinvestment, SIP, SWP and STP, thereby defining which events trigger statements.
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