What does a CAS statement show?

A CAS shows your mutual fund folios for a period: scheme, plan, units, transactions with their NAV on each date, closing units and market value. A detailed CAS lists every purchase, SIP, switch, redemption and dividend, while a summary only shows holdings. It is built from your PAN, so only folios with a matching PAN appear.

How do I calculate the current value from a CAS?

Multiply the closing units of each folio by the NAV on the statement date. For example, 2,372.475 units at a NAV of ₹42 is ₹99,643.95. Add the values across folios for the total. The value is a one-day figure and changes whenever the NAV changes.

What is the difference between a CAMS and a depository CAS?

A CAMS or KFintech statement lists mutual fund folios held with fund houses. A depository statement from NSDL or CDSL lists demat holdings and can include mutual fund units held in demat form. They can overlap, so count each holding once when adding up your total.

Why do my units differ slightly from amount divided by NAV?

Units are rounded to three decimals, and some statements show small statutory charges on purchases, so units can differ by a fraction. The method is amount ÷ NAV on the transaction date. If the difference is large, compare the transaction amount and NAV date on the statement.

What does nominee registered mean on a CAS?

It tells you whether a nominee is recorded on that folio. If it shows not registered, the fund house or its registrar can explain how to add one. A nominee does not replace a will, but it tells the fund house whom to contact first if the holder dies.

How to Read a CAS Statement (CAMS, KFintech)

What is a CAS and who sends it?

A consolidated account statement (CAS) puts your mutual fund holdings from different fund houses into one document, using your PAN to bring them together. Two kinds are common:

A fund-registrar statement from CAMS or KFintech (also available through MFCentral), which lists mutual fund folios.
A depository statement from NSDL or CDSL, which lists demat holdings and can include mutual fund units held through the demat account.

They look different but share the same logic. The next guide, on how to download your CAS, covers how to request each. This one is about reading it.

A CAS can be a summary (holdings only) or a detailed one (every transaction in the period). The detailed one is the better one for learning to read, because you can recompute it.

What are the main blocks of a CAS?

Block	What it shows	What to check
Your details	Name, address, email, PAN, statement period	Is the period what you asked for? Are PAN and email correct?
Portfolio summary	Each fund house, folio, cost value, market value	Does the total match your own list of funds?
Folio header	Folio number, scheme name, plan, registrar, KYC and nominee status, bank on record	Direct or Regular? Is a nominee recorded? Is the bank account yours?
Transactions	Date, description, amount, units, NAV, unit balance	Are SIP dates and amounts what you expect?
Closing balance	Closing units, NAV date, NAV, valuation	Does units × NAV match the value shown?
Notes	Load, dividend or IDCW, and other disclosures	Anything that reads like a charge or a change

How do I read one folio? A worked example

Say you hold one equity fund in a Regular or Direct plan, and the statement period is 1 January to 31 March. The folio opens with 2,000.000 units.

The SIP is ₹5,000 on the 5th of each month. Units bought = amount ÷ NAV.

Date	Description	Amount (₹)	NAV (₹)	Units	Unit balance
1 Jan	Opening balance				2,000.000
5 Jan	SIP purchase	5,000	40.0000	125.000	2,125.000
5 Feb	SIP purchase	5,000	41.2500	121.212	2,246.212
5 Mar	SIP purchase	5,000	39.6000	126.263	2,372.475

Working: 5,000 ÷ 40.00 = 125.000. 5,000 ÷ 41.25 = 121.2121, shown as 121.212. 5,000 ÷ 39.60 = 126.2626, shown as 126.263.

New units this quarter: 125.000 + 121.212 + 126.263 = 372.475. Closing units: 2,000.000 + 372.475 = 2,372.475.

Now the valuation. Say the NAV on 31 March is ₹42.0000.

Closing value = 2,372.475 × 42 = ₹99,643.95

The three instalments cost ₹15,000 in total, and the 372.475 units they bought are worth 372.475 × 42 = ₹15,643.95 on 31 March. That is a difference of ₹643.95 on those units, which comes purely from the NAV on the day. It says nothing about the future.

Real statements may show a small statutory-charge line on purchases, so your units can differ by a fraction from this simple division. The method is the same.

What does each column mean?

Folio number. The account number at the fund house. One fund house can have several folios for you, for example one per investor combination.
Scheme and plan. The scheme name tells you the fund. The plan (Direct or Regular) tells you whether a distributor commission is built into the expense ratio. The two plans have different NAVs for the same scheme.
Units. The share-like quantity you own. They go up when you buy, go down when you redeem, and do not change when the NAV moves.
NAV. Net asset value per unit on that date. It is declared by the fund house for each business day.
Cost value. What you invested, which is the base for any gain or loss.
Market value. Units × NAV on the statement date.
Transaction descriptions. Purchase, SIP, switch in, switch out, redemption, dividend payout or reinvestment, and entries that cancel a failed or reversed transaction.

How do I tell a switch, a redemption and a reversal apart?

A redemption reduces units and brings money to your bank. A switch out reduces units in one scheme and a matching switch in adds units in another, with no money reaching your bank. A reversal cancels an earlier entry, for example when a payment failed, and usually appears as a negative amount of the same size.

Two of these look alike on a first read. If the units fall in one scheme and rise in another on the same date, it is a switch. If the units fall and the statement shows a payment to your bank account, it is a redemption.

What do people miss on a CAS?

Reading the summary and skipping the period. A CAS for a short period may not show holdings that had no transaction. Check what the statement says it covers.
Missing folios. A folio under a different email or PAN may not appear. The total is only as complete as the PAN match.
The plan line. Two funds with similar names may be Direct in one folio and Regular in another.
Nominee status. Many folios show nominee registered or not registered. If this reads "not registered", the fund house or registrar can tell you the process.
IDCW versus growth. Units from a dividend reinvestment add to the balance without a purchase from you.
Treating one date's value as a return. Market value on one day includes the day's NAV. It is not an annual return.

How can I check that my CAS is complete?

Run four quick checks before you trust any total.

Period. Does the statement start and end on the dates you asked for? A summary for a single date does not show transactions.
PAN and email. Folios are matched by PAN. If a fund house has an old PAN or email on record, that folio may be missing from your statement.
Number of folios. Compare the count with your own list of funds and with your SIP mandates. If you know you run six SIPs and the statement shows four schemes, find the other two.
Closing unit arithmetic. For one folio, add purchases to the opening units, subtract sales, and see whether you reach the closing units. The worked example above does this in four lines.

If a folio is missing, ask the fund house or the registrar to update the PAN and email on that folio, then request a fresh statement. Do not fill the gap with a guess. A missing holding is better recorded as "not yet found" than as zero, because zero says that it does not exist.

What to check for your own situation

Do the closing units on each folio equal the opening units plus purchases minus sales?
Does units × NAV equal the value shown, to the rupee?
Is every SIP on the date and for the amount you set?
Which plan is each scheme in?
Is a nominee recorded on every folio, and is the bank account on record yours?

How this looks in Kubear

Kubear is a web app. You can upload a CAS and Kubear reads it into a draft of your holdings, with scheme names, units and NAV dates, which you review and confirm before anything is saved. The uploaded file is discarded after reading. Kubear shows the units, the NAV date and the arithmetic. It does not suggest funds or tell you what to do with them.

This is general education, not personal financial, tax or insurance advice.

How to Read a CAMS or KFintech CAS Statement, Section by Section