Mumbai: As part of green initiative, market regulator Sebi today directed mutual funds to send copies of annual reports to unitholders through e-mail. "In order to bring cost effectiveness in printing and dispatching the annual reports or abridged summary and as a green initiative measure the Asset Management Companies shall communicate to them stating that henceforth, the scheme annual reports or abridged summary would only be sent by email," the Securities and Exchange Board of India (Sebi) said in a circular. "The communication shall clearly mention that the scheme annual accounts or abridged summary would henceforth be sent to these e-mail addresses and not as physical copies and the communication shall also have an option for the investors stating that those who still wish to receive the reports as physical copies may indicate as such," it said. However, in case if any shareholder asks specifically for physical copies, the MFs have been told to provide the documents in such a form. "For the rest of the investors, i.e. whose email addresses are not available with the mutual fund, the AMCs shall continue to send physical copies of scheme annual reports or abridged summary," Sebi said. Meanwhile, the regulator has also directed the MFs to ensure that consolidated account statements for each month is issued to the investors who have undertaken any transactions in their accounts during that month. "AMCs shall ensure that consolidated account statement for each calendar month is issued to the investors in whose folios transactions has taken place during that month," the circular said