How to Check Mutual Fund Status with Folio Number?

You can see this trend of number identification everywhere, like Aadhaar, PAN card, and Passport. Banks provide an account number to identify their customers when they open an account with that bank; similarly, when you invest in mutual funds through an AMC, you are assigned an identity number in mutual funds, known as a folio number. 

In this blog, we will share information about folio number and its benefits.

What is a Folio Number?

A unique number, called a folio number, is assigned to investors who invest through mutual funds. An investor uses this number to track his/her mutual fund investment account. The folio number also helps monitor an investor’s activities, such as buying, selling, dividends, and other associated activities. In principle, the folio number helps in the seamless and effective management of investments.

How do You Find Your Folio Number?

Generally, an investor can find his/her folio number in three ways.

1. From your fund account statement –  AMC will provide you with your mutual fund account statement. In the case of SIPs, this statement is issued to you every month. You can find your folio number in the mutual fund account statement. 
2. From Consolidated Account Statement – These are documents showing individual total investments under several folio numbers of different AMCs. Consolidated account statements are issued by Registrars like CAMS Online and KFintech. 
3. From the Registrar’s website – You can also get your folio number from the Registrar’s website or their branch office. However, you must first prove that you are a legitimate owner of the folio. Nowadays, fund companies also provide the facility wherein you can contact the Registrar’s call center and get your folio number.

Read Also: How to Cancel Mutual Fund SIP?

How to Use Folio Number to Check Mutual Funds Status?

Method 1 – Check Status Online

An investor can sign into AMC’s website or apps, and with the help of a folio number, the investor can access the details regarding mutual fund transaction history, balance, etc.

Method 2 – Check Status by contacting AMC customer care

If you find the above method burdensome, you may directly contact your AMC through their customer care number available online, visit their office, or even email customer care to check mutual fund status by folio number. You must have your PAN number and other details handy for verification.

Method 3 – Check status through the Consolidated Account Statement

Investors receive periodic Consolidated Accounts Statements from Central Depository Services Limited (CDSL) and National Securities Depository Limited (NSDL). If you are a mutual fund investor, they provide you with folio-wise mutual fund status, performance, and value of your investment.

Method 4 – Contacting Broker

If you invest your money in Mutual Funds through a broker, you may also contact them. These brokers, with the help of AMC, provide you with a folio number to acquire real-time mutual fund status and performance. An investor must keep documents handy while contacting the broker for verification.

Method 5 – Check the Status through the Registrar’s website

Registrars like CAMS and Karvy help investors know their mutual fund status. You just need to visit their website and register using your PAN number or registered mobile number.

Who Allocates Folio Numbers?

When you invest in a mutual fund through an AMC, the AMC assigns you a folio number to your investment. Each AMC assigns its own folio number to investors for the mutual funds managed by that AMC. When you make your first contribution to the fund you are investing in, a folio number gets generated for you by the fund house or AMC.

If you have more than one share of the same mutual fund, the fund house gives you only one folio number. If an investor invests in a scheme provided by a different AMC, then the investor must create a new folio number.

Advantages of Folio Number

Now, let’s delve into the benefits of a folio number.

1. Accessing the consolidated view – You can approach all schemes with a single folio number through a single statement in which all the details of your investment are also mentioned along with AMC.
2. Tracking of investments – Through the folio number, investors track their mutual fund investments. You can get your statement of any particular period’s investment and quickly know how many units you hold in a fund.
3. Helps in Easy Redemption – Investors must mention or give a folio number while redeeming their mutual fund units. This makes the redemption process quick and easy.
4. Tax Implications – Folio number helps in accurately reporting capital gains; dividends are other income on your mutual fund investment, making the process of tax reporting easier.

Read Also: Mutual Fund Fees & Charges in India 2024

Conclusion

Each mutual fund investor gets a unique folio number. Investors can also have multiple folio number investments in schemes provided by different AMCs. One practical step mutual fund investors can take toward better management of their investments is consolidating folio numbers. It would mean merging all investments under a single folio to make tracking easier. Identifying multiple folios, contacting the AMC, filling and submitting a consolidation form, and checking for changes can be quite a complex process. This will involve, among others, ease of tracking, redemption of investments, and ease of tax planning. Overall, consolidation ensures a more seamless and effective investment experience. However, it is advised to consult a financial advisor before investing.

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