One of the most recognisable and respected names in UK fund management, Nutt has worked at Jupiter for 17 years. He will be 60 in 2013.
The £509m Jupiter High Income Fund is to be passed on to Philip Matthews on 1 July next year, with its bond element continuing to be run by Ariel Bezalel. Matthews will also remain as deputy manager on the Jupiter Income Trust.
Nutt will continue to manage the Jupiter Dividend & Growth Investment Trust for the foreseeable future, supported by Alastair Gunn who also manages the equity element of the Jupiter Distribution Fund.
Under Nutt’s stewardship since launch in 1996, the High Income Fund has delivered a return of 352% compared to 161% for the IMA Equity & Bond Income Sector, according to Jupiter.
Income Trust, which Nutt took over on 1 May 2000, has returned 109.1% against 87.0% for the IMA UK Equity Income sector average and double the 52.3% produced by the FTSE All Share Index.
Whitmore has been managing Jupiter UK Special Situations since 1 November 2006. In this time, it has returned 41.4% against 15.7% for the IMA UK All Companies sector average.
Nutt said: “I am proud of what we have achieved at Jupiter in the past 17 years. The company has grown in strength during the volatile market conditions of the past 12 years. Delivering outperformance for investors over the long term remains the focus for the fund management team and it is pleasing to have been involved in the development of so many talented managers who are now producing outperformance for clients on their own funds.
“I am looking forward to continuing to work with my colleagues over the coming year and to hand over my funds to Ben and Philip.”
