CAN (Common Account Number) is a unique reference number used by mutual fund investors in India to streamline and manage their investments across multiple fund houses. Issued by the MF Utility platform, CAN allows investors to consolidate all their mutual fund holdings under one account, making fund management simpler and more efficient.
How CAN Simplifies Mutual Fund Management
- Consolidated Portfolio
CAN enables investors to view and manage all their mutual fund investments from different Asset Management Companies (AMCs) in a single account. This eliminates the need to maintain separate accounts or login credentials for each AMC. - One-Time Registration
With CAN, investors only need to register once, reducing paperwork and time spent on managing multiple mutual fund accounts. Once the account is set up, investors can invest in or redeem funds from any AMC that participates in the MF Utility platform. - Ease of Transactions
CAN supports seamless transactions such as purchases, redemptions, switches, and Systematic Investment Plans (SIPs) across various fund houses. This unified system makes it convenient to manage investments from a single dashboard. - E-Statement Facility
Investors receive consolidated statements of their holdings and transactions, helping them track the performance of all mutual funds efficiently without having to visit multiple websites.
How to Get a CAN
To obtain a CAN, investors can register through the MF Utility platform by filling out an application form and submitting the necessary Know Your Customer (KYC) documents. Once verified, the CAN is assigned, and investors can begin managing their mutual fund investments under a single account.
Conclusion
CAN is an essential tool for mutual fund investors, providing a hassle-free solution for managing portfolios across multiple fund houses. By consolidating transactions and offering a unified view of investments, CAN simplifies the investment process, saving time and effort for investors.
FAQ
- What is CAN in mutual funds?
CAN stands for Common Account Number, a unique identifier that allows investors to manage multiple mutual fund investments from different fund houses through a single account. - How does CAN benefit mutual fund investors?
CAN simplifies fund management by providing consolidated statements, seamless transactions, and a unified view of all investments, reducing the complexity of handling multiple accounts. - Is it mandatory to have a CAN to invest in mutual funds?
No, it is not mandatory, but having a CAN provides significant convenience for investors who hold funds across multiple AMCs. - How can I apply for a CAN?
You can apply for a CAN by registering on the MF Utility platform and completing the KYC process. - Can I track all my mutual funds with a CAN?
Yes, CAN allows you to track and manage all your mutual fund investments across different AMCs through a single account.