Devon pipped fellow finalists Salt Funds Management and ANZ Investments to be named top equities manager in 2015.
The judges said Devon's team had a special knack for communicating investment strategy and "always impressed" when discussing stock selection.
The Auckland-based firm manages more than $1 billion on behalf of clients including the New Zealand Superannuation Fund, community trusts, charities, KiwiSaver schemes and individual investors.
"Devon clearly articulate why they hold the stocks they do, leaving the investor confident with where they have chosen to invest," the judges said.
High-profile investor Paul Glass established Devon in 2010 through the acquisition of the asset management business of Goldman Sachs JBWere NZ. Devon portfolio manager Slade Robertson paid special tribute to the Super Fund. "When we set the business up they were one of the first major organisations that supported us and it was obviously wonderful to receive a mandate from them," he said.
The evolution of New Zealand's capital markets had sparked the emergence of a range of high-quality, independent asset management firms. "For us to be recognised [by Infinz], given those other parties in this market, is really an honour."
In February Devon announced the closure of its popular Alpha Fund to new investment after it had reached $130 million. The fund, launched in 2010, has returned 21.3 per cent a year over the past three years, before fees, expenses and tax.