Two prestigious Morningstar awards in important multiasset categories were scooped by NFB, a small asset manager that invests in both the actively and passively managed funds of other managers. The award for the best equity fund also evaded the bigger asset managers, going to boutique manager Mazi Capital for the performance of its Prime Equity Fund. NFB's low-equity and high-equity multiasset fund of funds won the awards in Morningstar's cautious allocation and moderate allocation categories. Morningstar's categories are slightly different to those of the Association for Savings and Investment South Africa and used by the local unit trust industry - the equity allocations are usually slightly higher or lower. NFB is an established manager serving private clients and smaller institutional investors such as charities and medical schemes. The manager of Mazi's equity fund, Malungelo Zilimbola, launched Mazi (meaning cow in Xhosa) in 2006. Zilimbola invests in undervalued shares but sa...

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