Twitter icon Email alerts icon Latest News RSS icon Magazine icon Stay connected:

View the article online at http://citywire.co.uk/wealth-manager/article/a643819

Anthony Nutt: the thing I will miss most is the challenge

by Dylan Lobo on Dec 06, 2012 at 13:50

Anthony Nutt: the thing I will miss most is the challenge

Jupiter's Anthony Nutt has spoken frankly about his decision to retire and highlights the things he will miss most when he walks away from his career in fund management.

In an interview Wealth Manager following the news he intends to retire in 2014, Nutt (pictured) said the challenge of outwitting markets will be among his voids.   

‘I do like a challenge and going forward the economic headwinds look like they could be stronger than anything I’ve experienced in my career.  When Andrew Haldane (Bank of England executive director) compared the economic situation to a war earlier this week, it may have been bit sensationalist but this going to be a long grind. I will miss the challenge.’

Speaking to Wealth Manager back in March, Nutt talked down suggestions he may retire soon, saying he still ‘enjoyed’ the job and felt he had the ability to deliver.  

‘I do a job that has a good deal of responsibility and if you fall below people’s expectations, you can only expect them to criticise you. I’m not the sort of person who runs away from a problem, I have never done that in my life,’ he said at the time.

The right time

However while Nutt - who turns 60 next year - does not believe he has lost his ability, he feels now is the right time for a succession plan to be installed. ‘I admit age has something to do with the decision and now is the right time to think about a succession plan over the last 12 months. I have few regrets and Jupiter is in a good position. It’s the perfect time to be handing over the funds.’

Jupiter chief investment officer (CIO) John Chatfeild-Roberts commended on Nutt’s leadership as head of UK equities and believes he has left the desk in strong shape. ‘Jupiter has an extraordinary UK desk and Anthony is seriously proud of what he has achieved and the legacy he is handing over.'

Longevity

After a spell with the Ministry of Defence Nutt entered the financial services industry in 1975 with Foster and Braithwaite. After stints with UK Provident, TSB Investment Management and Robert Fleming, he joined Jupiter in 1996 where he was given the tough challenge of replacing William Littlewood on the Income fund.

Nutt did not disappoint as a series of shrewd calls saw him surge to the top of the performance charts. However, his copybook was blotted following the financial crisis, with his exposure to media stocks such as Yell and Johnston Press weighing heavily.

This is underlined by recent performance, with his Jupiter Income fund suffering a loss of 2.75% in the five years to the end of October versus a 5.2% gain in the FTSE All share over the same period.  

Sign in / register to view full article on one page

1 comment so far. Why not have your say?

Badger

Dec 06, 2012 at 16:01

Perhaps he could meet the challenge of returning his income fund into a pedigree instead of the mongrel it's become. I find clients all the time who are delusional of it long lost glories. Do every one a favour and go now

report this

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Sponsored Video: Bringing it all back home


As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.

Today's top headlines

Sponsored Video: Barings on investing in Frontier Markets


From Nigeria to Pakistan and from Kenya to Kuwait, frontier markets are catching investors' attention as never before.

More about this:

Look up the funds

  • Jupiter Income
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them
  • Jupiter UK Special Situations I (Acc)
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them

Look up the shares

  • Register or Sign in to receive email alerts for items in your favourites whenever we write about them
  • Johnston Press PLC
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them
  • Antofagasta PLC
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them
  • Lonmin PLC
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them

Look up the fund managers

  • Ben Whitmore
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them
  • Anthony Nutt
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them
  • John Chatfeild-Roberts
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them

More from us

Archive

On the road

Click here to find out more from the Audience Development team.

Sorry, this link is not
quite ready yet