A Consolidated Account Statement (CAS) has to be sent for each calendar month by post or email on or before the 15th day of the succeeding month.60 If the email is registered with the fund then the CAS will be sent only by email.
Investors will be identified across mutual funds by the PAN for the purpose of CAS. If there are no transactions in a folio during a six month period, the CAS will be sent at the end of each such six month period (September/ March) on or before the 21st day of the succeeding month.
A switch is a redemption and purchase transaction rolled into one. A redeeming scheme is called source scheme from which money is switched out. The purchasing scheme is called target scheme, into which the money is switched in. This is known as inter scheme switch.
Switch can also be done from one option to another. An investor who has chosen a growth option can switch to a payout of income distribution cum capital withdrawal option, for example. A switch saves both time and effort for an investor.
Dividend payout options have been renamed as 'Payout of income distribution cum capital withdrawal option' effective April 1, 2021.
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