View more on these topics

Jupiter appoints Nutt’s replacement on £549m High Income fund

Jupiter Asset Management fund manager Alastair Gunn is taking over the £549m Jupiter High Income fund from Anthony Nutt on 1 July.

Nutt announced in December that he is retiring in 2014. 

Manager Philip Matthews, who runs the £368m Jupiter Growth & Income and £15m Jupiter UK Alpha funds, was due to take over management of the Jupiter High Income fund on 1 July, but he has announced he is leaving the firm to join Schroders to manage its £3.4bn UK Alpha Plus fund. He will take over the role from Richard Buxton who is leaving to join Old Mutual Global Investors in June.

Jupiter fund manager Chris Watt is now taking on responsibility for both the Jupiter Growth & Income and Jupiter UK Alpha funds from Matthews on 1 May.

Gunn joined Jupiter’s UK equities desk in 2007 to work with Nutt. He was appointed co-manager of the £294m Jupiter Distribution fund alongside bond manager Rhys Petheram in July 2010. The fund has achieved a return of 26.7 per cent against 18.8 per cent for the IMA Mixed Investment 0-35% Shares sector average to the end of March.

Watt joined Jupiter in 1999 and has worked as part of the fund management team since 2000, principally on the UK equity desk.

He became deputy manager of the Jupiter UK Alpha fund in July 2006 and in January 2007 was appointed manager of the £50m Jupiter Responsible Income fund (previously Jupiter Environmental Income). During the past three years it has achieved 40.2 per cent against 33.6 per cent for the IMA UK Equity Income sector average.

Jupiter Asset Management chief investment officer John Chatfeild-Roberts says: “It is pleasing to be in a position to ‘promote from within’ two managers who have demonstrated their ability to deliver outperformance over the medium to long term. We congratulate them on their new roles and wish Philip Matthews the best of luck in the next stage of his career.”

Charles Stanley Direct head of research Ben Yearsley says: “I expect Jupiter is disappointed that Matthews has left as he was building a decent name for himself there. But Jupiter has a good reputation for bringing through strong managers.”

Nutt has already passed management of the flagship £2bn Jupiter Income trust to Ben Whitmore, who also manages the UK Special Situations fund.



Hornbuckle to close Cheshire office; 35 jobs at risk

Hornbuckle Mitchell is closing its Cheshire office, putting 35 jobs at risk. The pensions administrator says the decision was made following a review of its geographic footprint in the UK. The office will close in May. Hornbuckle will retain its offices in Edinburgh and Leicester and is also considering opening a new office in London. […]

John Charcol: Let-to-buy activity up 40% in 2012

London-brokerage John Charcol saw a 40 increase in let-to-buy deals in 2012 which it says is a sign of the growing demand for rental property. Under let-to-buy, a borrower rents their existing home in order to buy a new main residence. John Charcol senior technical manager Ray Boulger says: “The proportion of our clients choosing let-to-buy when […]

UK Government borrowing dips to £120.6bn

The UK Government borrowed £0.3bn less in 2012/13 than it did in the previous year, according to figures from the Office for National Statistics. In the financial year to April 2013, the UK Government borrowed £120.6bn, down from £120.9bn in 2012. The UK Government, which is aiming to eliminate the budget deficit by 2017/18, borrowed […]


Holly Mackay: The FCA paper and laundromats

Great excitement today as the FCA published the long awaited PS13/1 confirming policy on payments to platform service providers and cash rebates from providers to consumers. On reading the paper it’s actually a bit of an anti-climax and it pretty much just rubber stamps what we’ve heard before. It’s a bit like a wedding night. Talked […]

Tapering of annual allowance – adjusted and threshold income

The definitions of adjusted income and threshold income used to determine whether, and to what extent, someone’s annual allowance will be reduced can be confusing.  Here we try to make sense of it all. The annual allowance will be reduced for high income individuals from 6 April 2016.  Our previous article Tapering of annual allowance […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm