It is a creative world of numbers related to bank numbers, passwords, permanent account numbers, merchant account numbers, customer identification numbers, and insurance and mutual fund investments and specific numbers for bank deposits, etc. – You have to keep track of it and use it.
Keeping track is not an impossible task, but it is tedious.
A folio number is a number provided by an asset management firm to a mutual fund investor. An Asset Management Company is an organization that launches different mutual fund schemes keeping different goals in mind. For each fund house, this number is unique. Therefore, when you first invest in a fund, you will get a folio, which is different from the number of folios you have given when you have previously invested in another fund.
Like a bank account number, in a fund house scheme, a folio number represents your holdings.
The number of folios you can have with a specific fund house is not entirely a limit. However, it is excellent practice to have a minimum number of folios so that it is easy to track your investment.
You can get a list of your unit holdings with the fund house by citing your folio number. All mutual funds require some record-keeping scheme to keep the goods in a straightforward approach.
Where to find your Folio Number?
This is not rocket science to find your folio number. Here are some ways to find/retrieve your folio numbers.
Consolidated Account Statement (CAS): This is a statement, as indicated by the name, which represents your holding of cash in a scheme. An account statement is like a bank passbook. A consolidated account shows the following:
- The policy you invested.
- The amount you invested, the purchase price, and the units you allocated.
- Other information such as folio number, bank details, mailing and contact information, nominee details, etc.
Once a month, the sector issues a consolidated statement of accounts across fund houses. However, with each fund house, it is free to request an account statement that will only represent holdings in schemes managed by that specific fund house, although a fee is charged for requesting an account statement.
These consolidated account statements include all the details of your mutual fund scheme, as well as folio numbers.
This is probably the easiest way to find out the folios number.
Mutual Fund Statements: When you purchase a mutual fund plan from an asset management company or a fund house, you receive a set of documents via email and SMS. These documents contain complete plan information. You can find your folio number in email and SMS which is available to your AMC or fund house.
Through The Online Portal: You can move your current investment to other online portals and be commission-free with the Wealth trust app. You can find out the number of your previous investments through this web portal.