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Jupiter fund on black list

Anthony Nutt’s £2.5bn Jupiter income fund has been placed on the black list of underperformers in Principal Investment Management’s latest income study.

In July 2010, Principal put Nutt’s fund in its grey list of funds which show out of favour styles or early stages of decline.

It says the fund continues to struggle against its peers.

According to Morningstar, over three years to January 24, , the fund is 70th out of 86 funds in the IMA equity income sector, with a return of 4.1 per cent against an average of 11.8 per cent.

The Gartmore UK equity inc – ome and Fidelity income plus funds have also been added to the black list while Cazenove UK equity income and Rathbone blue chip income & growth are new entrants on the white list.

Funds in the White List have, over five years, proved their ability to deliver a rising level of income alongside long-term capital growth.

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