Nutt's Jupiter Income payout falls 9%

Tony Nutt's Jupiter Income trust has seen its payout to investors fall by 9% after the £2.52bn fund was hit by the BP crisis.

Jupiter Income paid an interim dividend to investors last week of 8.6p per unit, down from the 9.47p payout last year, the Daily Mail reports. Nutt has been a long-term investor in the oil giant, which is withholding its dividend until 2011 at the earliest to pay for the Gulf of Mexico disaster. BP's decision hit the expected income for Nutt, along with many other large equity income funds. The Jupiter manager remains bullish on the oil and gas sector, holding 18.7% in the sector. Royal Dutch Shell is the largest position in the fund at 8.5%, while BP is fourth at 6.4%. Despite the...