Investing in mutual funds has become increasingly popular in India, offering individuals a chance to grow their wealth. As an investor, it is crucial to keep track of your mutual fund investments, and the folio number plays a significant role in this process. In this article, we will explore the importance of the folio number and guide you on how to check your mutual fund status using this unique identifier.
What is the Folio number in a mutual fund?
A folio number is a unique identification number assigned by an Asset Management Company (AMC) when you invest in a mutual fund. This alphanumeric code is linked to your Permanent Account Number (PAN), which is essential for Know Your Customer (KYC) verification during the investment process.
Who Decides and Allocates the Folio Number?
To invest in something like a mutual funds, fixed deposit (FD), or stocks, you must first complete the Know Your Customer (KYC) process. For mutual funds and stocks, you provide this information to the broker or AMC, for FDs, you provide this information to the bank or NBFC.
In the case of mutual funds, the Asset Management Company (AMC) in charge of the fund will give you a folio number connected to your PAN. This folio number helps the AMC keep tabs on your investment details, manage your investments, and apply any necessary charges.
Advantages of having a Folio number
Having a folio number brings multiple benefits like:
- Effortless tracking: Easily monitor funds across various plans.
- Comprehensive history: Access a detailed transaction history and mutual fund account statement.
- Simplified KYC: Avoid repetitive KYC procedures with the same fund house, since your Folio number is linked to your PAN.
- Time savings: Eliminate the hassle of managing multiple account numbers.
- Enhanced authenticity: Assist the AMC in verifying the authenticity of the unit holder.
Where do I locate my folio number for a particular AMC?
Locating your folio number is crucial for checking your mutual fund status. You can find your folio number in the following places:
- CAS document: The top corner of your Consolidated Account Statement (CAS) provided periodically by your AMC contains the folio number.
- Mutual fund account statement: If you transact through SIPs or lump-sum investments, the mutual fund account statement also displays the folio number.
- Contacting AMC or RTA (Registrar and Transfer Agent): You can call the toll-free number or send an email to the AMC to inquire about your folio number.
- Visiting AMC office: Visit the office of your AMC to request and retrieve your folio number.
How to check mutual fund status with folio number?
Now that you understand the importance of the folio number, here are different ways to check your mutual fund status using this unique identifier:
Check your mutual fund status online:
- Visit the official website or app of your AMC.
- Access details regarding transaction history, fund balance, and more.
Check fund status through AMC customer care:
- Visit the AMC's office or call/email customer care.
- Provide necessary details for verification to get your mutual fund folio status.
Check the status through registrar's website:
- Register on registrar websites using your mobile number and PAN to access information.
Contact your broker to check status:
- If you invested through a broker, contact them for mutual fund status updates.
- Brokers can provide real-time information about your investments.
Check through consolidated account statement:
- Investors with a demat account receive consolidated account statements from depositories (CDSL/NSDL).
- These statements, sent via email, include folio-wise mutual fund performance details.
Checking your mutual fund status using the folio number is a straightforward process that empowers investors to stay informed about their investments. Always keep your folio number, PAN, and mobile number handy to access the details you need. The folio number not only facilitates tracking but also simplifies transactions, making it a valuable component of your mutual fund journey.