Nutt, who turns 60 in 2013, has played a pivotal role in the development of Jupiter in the 17 years he has worked at the company.
While Nutt has found the going tough at times since the credit crunch, his long-term performance is impressive and his Jupiter High Income fund has returned 352.2% since its launch in 1996 compared with 161% by the IMA UK Equity & Bond Income sector average, making it the top performer.
Meanwhile, the Jupiter Income Trust, which Nutt took control of on 1 May 2000, has returned 109.1% against 87% for the IMA UK Equity Income sector average and double the 52.3% produced by the FTSE All Share Index over that period.
Whitmore will assume control of the Income Trust on 1 January after building a strong reputation on the Jupiter UK Special Situations fund, which has delivered top quartile returns over one and three years and top decile returns over five years.
The investment style on the fund will not change dramatically as Whitmore, like Nutt, is a value manager with a contrarian bias.
Meanwhile Philip Matthews will take charge of the High Income fund on 1 July and remain deputy on the Income fund alongside managing the Jupiter Growth and Income fund, with Ariel Bezalel continuing to manage the bond component of the fund.
Like Whitmore, Matthews has delivered top quartile returns on his fund over one and three years and top decile over five.
In an announcement Jupiter lauded Nutt's influence on the firm, especially the role he has played mentoring the firm's rising stars such as Bezalel and Matthews, along with Alastair Gunn who Nutt will continue to manage the Jupiter Dividend & Growth investment trust alongside for the foreseeable future.
In a statement 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.'
Jupiter chief executive Edward Bonham Carter added: 'Anthony and I have worked together for almost 17 years and in this time he has made a tremendous contribution to the company, delivering outperformance for long-term holders of his funds and providing support and guidance for up and coming managers.
'We are fortunate to have a strong team in Ben and Philip to take over his portfolios and that is due in no small part to Anthony’s efforts. I am delighted he will continue to work for Jupiter into 2014 and would like to thank him for the continued commitment he has shown to the company.'
To find out what Nutt will miss most when he retires and a review of his career click here.