How do I import my mutual fund Consolidated Account Statement (CAS) in MProfit?

[MProfit Moderator]

CAMS provides you with a consolidated account statement (CAS) for your entire family’s mutual fund holdings across all schemes including the ones managed by CAMS, Karvy and Franklin Templeton.

Below are the steps to import your CAS to MProfit:

1. Go to https://www.camsonline.com/ and click on Accept.

2. Click on Investor Services.





2. Next, select Mailback Services.





3. On the next page, click on Consolidated Account Statement - CAMS+Karvy+FTAMIL.





4. Enter all the required details (as shown in the screenshot below) and click on Submit. You will receive the consolidated account PDF statement within a few hours from CAMSonline. Once you receive statement, proceed to the next steps below.

5. Now go to the MProfit application and click Import on the top-left. Search for the "Consolidated Account Statement - PDF" template and add it to your Favourites. Select the template in your Favourites and import your CAS file.

6. Next, you will be prompted to enter your password. Use the password you have set while requesting your CAS file (this is a one-time step only).



7. On the next screen, map the PAN or Folio Numbers in your CAS file with the respective portfolios in the MProfit application (note that this is a one-time mapping only).

Next, click on Continue with import.





8. You can review all your transactions in the Import preview window. Once this is done, click on the Import button.

8. Below is an image of a sample file for Consolidated Account Statement.

[zomby]

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.

[Tanmay Keni]

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.

[zomby]

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?

[Tanmay Keni]

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.

[zomby]

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.

[Jonny Yadav]

Dear Zomby,

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

[rsinfo]

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.

[Jonny Yadav]

Dear rsinfo,

Please email your contact no and statement to [email protected] so that we can assist you better.