The Association of Mutual Funds in India (AMFI) today launched an electronic form of mutual fund common account statements (eCAS).
"Mutual fund houses, in collaboration with AMFI have started issuance of mutual fund common account statements in an electronic form," it said.
Market regulator Sebi has mandated all mutual funds to provide a common account statement (CAS).
"One of the main challenges to roll out CAS was to aggregate data across five registrars and present a common account statement to an investor based on the PAN. Suitable independent partners had to be identified to address confidentiality related challenges.
"With eCAS, we believe investors will have further convenience and we will together make a positive impact on our environmental responsibility through this go-green initiative," Amfi chief executive H N Sinor said.