The asset management industry has seen some consolidation over the past 12 months, with takeovers including F&C's purchase of Thames River and Henderson's acquisition of Gartmore, but boutiques have continued to attract attention. Financial News has picked out five of the best as nominees for this year's asset management awards.

Independence, manoeuvrability, innovation and benchmark-busting returns have separated the firms that consist of the Boutique of the Year shortlist above their rivals. Here's the list of nominees: