In recent times, there has been an increased awareness about mutual funds and a significant growth in investment in mutual funds. Now the following questions to address are how to track the status of mutual funds and how to check returns, performance, expenses, and units bought or sold of each when you hold multiple mutual funds? Here comes the unique identification number, Folio Number, to your rescue.
Continue reading to find out what a folio number is and how you can check mutual fund status with a folio number.
What is a Folio Number?
‘Folio,’ derived from a Latin word, means a sheet of paper with a page number printed on it to show where it belongs in a larger book.
A unique identification number allotted by the Fund House or an Asset Management Company to the investor is known as a Folio Number. The AMC can use it to keep track of shares in mutual fund schemes made by an investor. Thus, they guarantee the systematic archiving of mutual fund investment records. You must know that even if you hold more than one share of a particular fund, only one folio number will be assigned.
Features of a folio number
Folio numbers of funds are typically either numeric or alphanumeric, or they can be folios separated by the slash sign (/). You can find the folio number in the top corner of the Consolidated Account Statement (CAS) sent to you by the AMC periodically.
With different AMCs:
You should know that the folio number is different for different AMCs. However, you can hold any number of folios in respective mutual funds. For example: If you have a folio number with an ‘X’ Mutual Fund, it cannot be used for investing in a ‘Y’ or ‘Z’ mutual fund.
With the same AMC:
A single folio number is issued for all schemes under a single AMC. However, each time you buy funds for a new AMC, you will get a unique folio number. If you have a mutual fund with several folio numbers, you can request to combine all your folio codes into one. You must know that there is no limit on the number of folio numbers one can hold. For the convenience of management, it is advised to avoid having an excessive number of folio numbers.
What are the benefits of having a folio number?
- Makes it easier to keep track of your investments
- Helps identify the owners of the accounts in their investment pool
- Provides AMC with an investor’s contact information all in one place
- Keeps track of contact information, transaction information, and the amount of money each investor has contributed to the fund
- Helps bank creditors, lawyers, and regulators to solve suspected fraud cases by tracing where certain funds or assets have flown
- Assures correctness and fidelity of financial accounts and identifies duplicate ledger entries
- Helps find the value of your fund holding
- Monitors the gains and losses incurred by a fund which helps in making decisions on retaining or selling units
How to get a folio number?
You can find your folio number in either of the 3 ways mentioned below.
|Fund Account Statements by the AMC
|Consolidated Account Statements by Registrars like Computer Age Management Services (CAMS)
|AMC App or Website
|It is issued each month in the case of Systematic Investment Plans (SIPs) and periodically in other cases
|The registrar maps your consolidated holdings through the PAN (Permanent Account Number), and it will contain all your folio numbers with different AMCs
|Can access the details through the app and online portal
How to check mutual fund status with a folio number?
Through online mode
You can easily and conveniently invest in mutual funds by registering through a mobile number and PAN card. After investing, some designated websites allow you to check the status of mutual funds through folio numbers.
Through AMC customer care
You can reach out to AMCs customer care to track the performance of mutual funds by providing PAN and folio numbers.
Through Consolidated Account Statement (CAS)
CAS is a single document that provides the investor with all the details of their transactions and investments related to depository accounts and mutual funds investment. This helps to track the status of mutual funds.
Through the fund’s website
You can check the status of the mutual fund through the folio number by logging in to the dedicated fund’s website.
Through your broker
When you invest in a mutual fund through a broker, you can request them to get your folio number as a broker has access to all the information of your investments. Through your folio number, the broker can monitor the progress of the mutual fund.
Why is a folio number relevant to the investor?
Just like your bank account statement showing all your transactions with a particular bank, mutual fund statements compile all your investment transactions. This statement contains the folio number, which helps you ensure that this number is the same every time you invest. Also, if you use the same folio number, it is easier for you to manage your investments with AMC.
Folio number is a unique identification number given by AMC for your mutual fund investments. You should always keep this number saved, as it will help you check the performance of your investments and make decisions accordingly. If you haven’t already started investing in mutual funds, you can head to Angel One trading platform.
What is a folio number?
When you invest in mutual funds, it is important to understand the folio number meaning. A folio number is assigned by a mutual fund company to identify the portfolios of account holders in the pool. It is unique for each investor, which helps maintain records of their investments. It is used to track and manage investments in mutual funds, stocks, or other financial instruments.
How is a folio number generated?
A folio number is typically generated by the financial institution or mutual fund company where an investor holds their investments.
What is the significance of a folio number?
A folio number is an identification number assigned by the asset management company to track your portfolio, investment records, holdings, performance, etc. Asset management companies use folio numbers for all communications with investors.
Can I have multiple folio numbers?
Yes, it is possible to have multiple folio numbers if you hold investments in different financial institutions or mutual funds.
How can I find my folio number?
The folio number is mentioned in the Consolidated Account Statement (CAS) sent to you by the AMC. It is also mentioned in the Mutual Fund Statement sent to you when you transact through SIP or lumpsum or redeem your units.