In the recent PPFAS unitholder meet, Rajiv Thakkar gave following reason for not owning Asset Management companies and Insurance companies directly but through holding companies via investments in Axis Bank, ICICI Bank, MOFSL and Bajaj Holdings
‘‘In value chain there are two large players which capture the value. In the asset management business - asset management companies and the distributors. In the insurance business - insurance companies and agents. When investor owns a parent company, she gets to participate on both the sides’’
I wanted to think on the same lines when I wrote down reasoning above but what Rajiv Thakkar said is simple, sharp and shows his thought clarity. My reasoning shows brain fog
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