Anthony Nutt, a well-known income manager and head of UK equities at Jupiter Fund Management, is to hand over control of his unit trusts from January and retire in 2014.
Nutt, who turns 60 next year, will pass the management of the Jupiter Income Trust to Ben Whitmore from 1 January and of the Jupiter High Income Fund to Philip Matthews from 1 July.
Nutt has worked at Jupiter for 17 years.
During this time the high income fund has delivered a return of 352.2% compared with an average return of 161% for the IMA UK Equity & Bond Income sector since the fund’s launch in February 1996, placing it first in the sector.
The income trust, which Nutt took over on May 1 2000, has returned 109.1% against 87% for the IMA UK Equity Income sector average and double the 52.3% produced by the FTSE All Share Index in that period, placing the fund 14th in the sector.
In October Jupiter, a UK-listed company, reported assets under management of £24.9 billion (€31 billion), a rise of 6% in the third quarter.
©2012 funds europe
