Jupiter Distribution fund co-managers stand down
Anthony Nutt and John Hamilton are to step down as co-managers of the £250m Jupiter Distribution fund after a decade of service as the group promotes two rising stars.
Alastair Gunn and Rhys Petheram will take over as lead managers of the fund’s equity and bond portfolios respectively, with Nutt and Hamilton as deputies.
Head of UK equities Nutt and head of fixed interest Hamilton have managed the fund since its launch in March 2002, joining Gunn and Petheram as co-managers in July 2010.
Gunn joined Jupiter in 2007, having previously been director of equity research at Arbuthnot Securities, while Petheram came from Moody’s, where he was a credit analyst, in 2006.
Nutt will continue to manage Jupiter’s £2.1bn Income trust, the £529m High Income fund he runs with Ariel Bezalel, and the £66m Dividend & Growth trust. Hamilton will remain in charge of the group’s £212m Corporate Bond fund.
Jupiter Distribution has returned 35.6% in the three years to 17 February, versus an IMA Mixed Investment 0-35% Shares sector average return of 26.9%.
The fund was top quartile over one and three years to the end of 2011 in the IMA’s now-defunct Cautious Managed sector. The move is the latest in a series of promotions at Jupiter.
Last month Gregory Herbert took on the European portfolio within the £250m Global Managed fund, run by Simon Somerville, while Steve Davies replaced departing Patrick Harrington as manager of the £94m Undervalued Assets fund in January.
This article was first published on Investment Week