I have been having a thought lately and wanted to open it up for discussion. We all know the story, SIP awareness in India is exploding. Even students are starting ₹500 to ₹1,000 monthly investments now. It’s becoming a massive cultural shift where regular wealth generation is finally going mainstream.
If we assume this SIP thing is a 10 to 20 year structural trend, I am curious to get this sub's take on which part of the ecosystem is actually best positioned to capture that value over the long run.
In my mind, it comes down to three different areas
1. The Platforms: Apps like Groww, Zerodha or Angel One that are the front door for all these new investors.
2. The AMCs: The actual fund houses like HDFC AMC or Nippon Life that manage the cash.
3. The RTAs: The backend players like CAMS or KFintech that handle the paperwork and processing for almost every transaction.
Do you think the real value lies with the platforms that own the customer, the fund houses that manage the money or the backend players that act as the industry's infrastructure? Or is there a different sector altogether that I'm missing?
Would love to hear some diverse perspectives on where the strongest "moat" actually exists in this chain.