Addressing the Investment Management Consultants Association (IMCA) annual conference yesterday, Colonial First State Global Asset Management chief executive Mark Lazberger said boutique fund managers would remain relevant.
"People have predicted mass consolidation. Sometimes you can be at the wrong place at the wrong time and what you're offering is just not of any interest," he said.
"But quite frankly I think there are going to be a lot of participants in the marketplace for a long time."
Despite a wider trend towards consolidation, Mr Lazberger said that overall the emergence of boutique fund managers has been positive.
"The thing I see about the boutiques is that they've introduced global competition that the big diversified players need to acknowledge, respect and respond to," he said.
Boutique firms will need to work hard to sustain market position however.
Pinnacle Investment Management managing director Ian Macoun said that like institutional funds mangers, independent firms would need to adapt to industry changes.
"Our industry is far more transparent and accountable than it used to be, so if you're only a boutique funds manager and you're offering what the market was, then you're probably going to lose business," he said.
"We need to be able to respond to the changing needs of the market by having the right environment and people with the right skills."
