The growth of assets under management (AUM) is one approach to assess the growth of mutual fund investments. Folios are a significantly more reliable method for checking retail involvement than any other method. There are now more than 12 billion mutual fund folios in India, with around 5.2 billion of them serving as SIP folios for specialized systematic investment programs. These folios come with a folio number for identification.
But how do you check the status of your mutual fund using a folio number? Let us find out.
What is a folio?
Investors in a mutual fund are each given a special number called a folio. It symbolizes the ownership stake you have in a mutual fund. As a result, folio numbers guarantee the orderly keeping of mutual fund investment documents. Folio number records also make it simple to resolve legal problems. Your mutual fund statement or the fund company or broker may provide this information promptly.
During the application process, the folio field is left blank. Only after you’ve made your initial investment will the fund house or asset management firm come up with a number. If you invest in Mutual Fund, you will get a unique folio number, whereas investing in Fund B will give you a different number. However, if you can convince AMC to pool all of your assets into a single account, things will go much more smoothly.
How to check mutual fund status with folio number?
- Investors who want to see how their money is doing may do so easily and quickly by going online. You may use your folio number to monitor the status of your funds on websites like Karvy, CAMS, etc. To sign up for these services, all you need is your mobile phone number and PAN card.
- To check on the progress of your mutual fund, you may contact the relevant asset management firm’s customer service department. The service provider would want information from your identification documents like your PAN card and folio number. The supplier will provide information about your PAN-related money after verification. When dealing with many AMCs, it is necessary to contact each fund house individually.
- There are a wide variety of investment options available via several fund houses, and each has its website. Logging in also allows you to see the current status of your mutual funds. You will need a PAN card, cellphone number, email address, and folio number to get started.
- In many cases, investors prefer to work with a broker or distributor that has complete access to all of their financial information before making any decisions. Using your folio number, the broker may monitor the progress of your mutual funds. If you want to check up on the progress of your mutual funds, you may call your broker.
- In India, NSDL and CDSL are the two depositories that gather and analyze individual investors’ data. Let’s say you’re a mutual fund investor with a Demat account. Once a month, the depository will send an email with a consolidated account statement that includes information about all stock and mutual fund holdings. In this way, you can monitor the performance of your mutual funds.
Any of the aforementioned options may be used to monitor the progress of your mutual fund account using its folio number. The folio number does not change if you buy numerous schemes from the same fund company. The fund house may issue several folio numbers linked to the same PAN card. If you lose track of your folio number, you may always ask AMC to re-send you the most recent statement from your mutual fund. It’s no need to stress out since the folio number is connected to the PAN card.