Principal blacklists Nutt's Jupiter Income

Tony Nutt's Jupiter Income fund, along with offerings from Gartmore and SWIP, are among those blacklisted for underperformance in Principal Investment Management's latest income study.

Nutt's £2.5bn Income fund is the most high profile fund the group recommends investors should ditch, while Dan Roberts' Gartmore UK Equity Income fund and SWIP's UK Income fund also make the list. Principal blacklists funds that have regularly underperformed compared to their peers. The group says investors with a stake in a blacklisted fund should consider switching. "We were disappointed to issue a switch recommendation on Jupiter Income in our mid-year review as we hold its manager, Anthony Nutt, in high regard," says the group. "However, the fund has now slipped into the Bl...