Announcement

Collapse
No announcement yet.

How do I import a Mutual Fund Consolidated Account Statement (CAS) in MProfit?

Collapse
This is a sticky topic.
X
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • How do I import a Mutual Fund Consolidated Account Statement (CAS) in MProfit?

    Click image for larger version

Name:	CAMS2.jpg
Views:	1
Size:	7.8 KB
ID:	378

    CAMS provide consolidated account statement (CAS) for the entire family’s mutual fund transactions across all schemes including the ones managed by CAMS, Karvy and Franklin Templeton. Please note that MProfit does not support CAS file from Karvy, request the CAS file from CAMS for importing in MProfit. Follow the exact steps below:
    1. Request a Consolidated Account Statement (CAS) PDF file.
    - Click onInvestor Services.
    - From left panel click on Mailback Services > CAS - CAMS + Karvy + FTAMIL + SBFS



    [​IMG]
    2. Select "Detailed" for the statement type
    3. Select the period you would like
    4. Folio Listing, select "With Zero balance folios"
    5. Enter an email address
    6. Leave the PAN field blank
    7. Enter a password, this is same password you will need to import the data into MProfit
    8. Once you receive the file in your email, download it to your desktop
    9. Import the PDF file using the "Consolidated Account Statement - PDF" template




    [​IMG]
    10. Enter your password and then map the PAN numbers to your portfolios in MProfit




    [​IMG]
    11. Map the mutual fund names to the names in MProfit.




    12. You can quickly find the names by clicking on Search




    [​IMG]
    13. Preview the transactions that will get imported




    [​IMG]
    14. Click on Import

  • #2
    Have you tested your templates to read merger information from CAS?
    I have tried importing CAS with merger information due to reclassification and the it does not read it.

    Comment


    • #3
      Dear Zomby,

      If it is merger, then you need to enter it manually in MProfit. If it is name change, it will be automatically updated within 4-6 weeks as name change updating is in process.
      MProfit Support

      Comment


      • #4
        I tried again last week and this time merger information is read as buy and sell. That has implication since it will also result in capital gain or loss ( I generated capital gains statement and it shows up in those reports).
        I wonder how difficult it is to implement the auto read from CAS?
        Other thing is when I manually enter merger, the purchase NAV is automatically calculated for new scheme, but that was not the actual NAV on the date of merger. It looks like the average purchase price was calculated/displayed based on old scheme. I wonder if there would be tax implications due to this.
        Would manually entering merger preserve the purchase information dates so as not to lose long term capital gain/loss when the merged scheme is sold?

        Comment


        • #5
          Dear Zomby,

          Corporate action cannot be automated during import process. This needs to be entered manually.

          With regards to merger, where old scheme is merged into new scheme based on some ratio announced by the fund house. For investors, the only thing needs to be looked at is the new quantity received for new schemes and once you perform the manual merger entry, there is no tax implication as merger transaction does not involve any capital gains. The purchase price of the new scheme is auto-adjusted based on the merger ratio.

          Actual NAV on the date of the merger is not important from investors point of view, it will be only used to give you new additional unit and that is important from AMC point of view.

          Hope this clarifies your queries.
          MProfit Support

          Comment


          • #6
            Thank you for the clarification about merger entry.
            I don't agree with your views on corporate action (CA) automation.
            The said corporate action in MF is different from stocks. MF CA show up in CAS statement with all the required information which in this case is name of new scheme and number of units. Stocks CA don't show up in contract notes.
            CAMS CAS clearly has entry as Merger instead of Purchase/Redemption along with name and units which is all required for automation or atleast it should show in popup for manual confirmation.
            If not enabled, at least it should not be imported as Buy/Sell which is clearly wrong because of tax implications.

            Comment


            • #7
              Dear Zomby,

              Thank you for your feedback. We will forward this to our technical team.

              Comment


              • #8
                Tried importing MF folios but can't import any funds of Axis or UTI. It's there in the statement but not reflected in the portfolio.

                Comment


                • #9
                  Dear rsinfo,

                  Please email your contact no and statement to support@mprofit.in so that we can assist you better.

                  Comment

                  Working...
                  X