It’s never easy being an outlier, especially if you’re a boutique, or small, asset manager. The lack of scale, as measured by assets under management, places tremendous pressure on the ability of such managers to be price competitive and extend their reach into the market.But once established, they have shown a knack for delivering what their customers most want: strong performance. This ability to outperform could be measured in the strong performance of boutique managers in Morningstar’s annual unit trust awards.Of the seven fund categories, four were won by boutique managers in the event that was held earlier this year.Winners included NFB Asset Management, which won the top moderate allocation and the best cautious allocation fund categories. Centaur’s BCI Flexible Fund took top honours in the best flexible allocation fund category, while Mazi Capital walked away with the best SA equity fund award.The big challenge for many in the boutique space is building an understanding amon...

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