LONDON (Reuters) - Anthony Nutt, one of Jupiter Fund Management’s best-known money managers, is to hand over the running of his flagship funds ahead of his retirement in 2014.
Nutt, who has been with Jupiter since 1996 and turns 60 next year, will stop managing the Jupiter Income Trust and Jupiter High Income Fund next year, Jupiter said in a statement on Thursday.
He will remain Head of UK equities and manager of the Jupiter Dividend and Growth Investment Trust.
Ben Whitmore will take over the running of the 1.83 billion pound ($2.9 billion) Income Trust from January 1, while Philip Matthews will become lead manager of the High Income Fund, which runs 505 million pounds in assets, on Jul. 1.
Nutt is one of the biggest names at London-based Jupiter, where he has built a reputation for strong returns, although his flagship income fund - which he has managed since 2000 - has struggled with underperformance in recent years.
He was one of the biggest beneficiaries of the company’s listing on the London Stock Exchange in 2010. In June he sold shares worth around 13 million pounds in the group, regulatory statements at the time showed.
Jupiter, headed by Edward Bonham Carter, reported a record 25 billion pounds in assets under management in its third-quarter.
Reporting by Tommy Wilkes; Editing by Helen Massy-Beresford