There is a code/number attached to almost everything in the present day and age. The Aadhaar number is a person’s unique identification code. The PAN number is a distinct code for all taxpayers in the country. Similarly, banks provide all account holders with a bank account number attached to each individual account, and mutual fund houses give investors a folio number to keep track of investments.
If you are investing in mutual funds online, you would also have a folio number. Let’s find out more about it and its benefits.
What is a folio number?
The folio number is an identification code of your mutual fund investments. It is provided by the asset management company (AMC) to each investor. If you invest in multiple mutual funds online within the same AMC, the folio will remain the same for all investments. You can use this number to invest in more schemes of the same AMC or to track all funds with minimal hassle. However, if you have SIPs or lump sum investments in mutual funds of different AMCs, you will have different folio numbers for each AMC.
What are the benefits of a folio number?
The folio number offers multiple uses and benefits. Here are some of them:
- The folio number helps to track the performance of your investments in mutual funds online.
- It helps AMCs keep track of all investors and authenticate their identities.
- It helps you check the account statement and transaction history of your investments.
- It simplifies the process of KYC when you invest in mutual fund schemes of the same AMC.
- The folio number stays uniform for different mutual fund schemes of the same AMC. This eliminates confusion and helps you maintain records of your investments with greater ease and convenience.
How to find the folio number?
If you do not know your folio number, you can find it by following one of the steps given below:
- Contact the AMC: You can contact your AMC by visiting its website or physical branch. The folio number is generally shared when you first start a SIP or make a lump sum investment in mutual funds online. However, you can also request it later if you forget to keep a note of it.
- Check your Consolidated Account Statement (CAS): As per the rules of the Securities and Exchange Board of India (SEBI), all AMCs have to send the CAS to all investors before the 10th of every month. CAS is a summary of all your mutual fund transactions, Net Asset Value (NAV), performance, dividends, etc. It also contains the folio number. Make sure to register your email address with the company to receive your statements.
To sum it up
The folio number can help you track and consolidate all your investments in mutual funds online. So, make sure to maintain a note of the folio numbers for all your mutual fund investments. Furthermore, you can also simplify investing by using a single app like the Tata Capital Moneyfy App. You can download the app on your smartphone and manage your investments on the go.