Statement of Accounts (SOA)
Last but not least, after you have invested in various mutual funds or you may have ongoing SIPs. It is important to keep track of your investments. This is where Statement of Accounts (SOA) comes handy.
What is an SOA?
Mutual Fund Statement of Account (SOA) or Consolidated Account Summary lists all the updated details of your investment and your profile details too.
An investor should check-
1. Name and address
2. Email ID, contact nos
3. Bank details like account no and RTGS no.
4. Nominee mentioned or not
5. Cost of Investment
6. Number of Units bought, sold and balance
7. Total amount invested
8. Current Market Value of Investment based on NAV
9. Time period to maturity (if close-ended fund)
Throughout this module, we have discussed several aspects of mutual funds. This module provided a complete guide on how to invest in mutual funds. Besides, there are many other modules in ELM School which you can explore in your journey towards financial literacy.