Jupiter Asset Management is pleased to announce that Philip Matthews has been appointed Deputy Manager of the Jupiter Income Trust, with effect from 1 March 2011.

Philip, who joined Jupiter in 1999, will work closely on the fund with Trustnet 2011 Alpha Manager* Anthony Nutt who has managed the £2.5bn Jupiter Income Trust since April 2000. Philip, who works as part of the UK Equities Team headed by Anthony Nutt, has built a strong track record as manager of the £102m Jupiter Growth & Income Fund. Since he took over the Fund in early 2006, it has produced a return of 37.4% compared with a return of 15.2% for the IMA UK All Companies sector average. This outperformance, which places the Fund 22nd out of 249 funds in the sector, has been generated in each individual year, through both bull and bear market conditions. The Fund, which has a historic yield of 3%, has also substantially outperformed the IMA Equity Income sector average return of 9.8%** over this period.

His promotion is part of Jupiter's continuing programme of developing its highly respected team of fund managers - promoting in-house talent and, where appropriate, hiring externally.

Philip's appointment as Deputy Manager of the Jupiter Income Trust follows last year's appointment of Simon Somerville as Deputy Manager of the Jupiter Global Managed Fund, the promotion of Rhys Petheram and Alistair Gunn as Co-Managers of the Jupiter Distribution Fund and the appointment of Steve Davies as Deputy Manager of the Jupiter UK Growth Fund. Jupiter also added to its bond team last year, appointing convertibles and multi-asset managers Miles Geldard and Lee Manzi, built out the emerging markets desk with the addition of Kathryn Langridge and added Guy de Blonay to the respected financials team of Philip Gibbs and Robert Mumby.

John Chatfeild-Roberts, Chief Investment Officer at Jupiter Asset Management, said: "Jupiter has built a strong reputation for successfully developing its fund management team over the past decade. Philip has proved his abilities as a fund manager over the last nine years and we believe the time is right for his efforts to be recognised with this promotion."

Anthony Nutt, Manager of the Jupiter Income Trust and Head of the UK Equities Team, said: "The UK Equities Team has grown in strength and depth during the past decade, through the nurturing of talented individuals such as Philip Matthews, Derek Pound and Chris Watt and the addition of well-regarded managers such as Richard Curling, Ian McVeigh and Ben Whitmore.

"Philip has been very successful in steering the Jupiter Growth & Income Fund through the last few turbulent years.  He sits alongside me so I know him well; I am delighted to welcome him to the management of Jupiter Income Trust and I look forward to working closely with him over the coming years."

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Notes to Editors
*Trustnet 2011 Alpha Manager for the 10 years to 31.12.10

** Source: Financial Express, bid to bid net income reinvested. Figures from 31.3.2006 to 28.02.2011

FUND FACTS: JUPITER INCOME TRUST
Manager: Anthony Nutt
Deputy Manager: Philip Matthews
Launch date:  3.8.87
Historic Yield: 3.7%
Charges: 5% initial, 1.50% annual management fee
Minimum investment: £500 lump sum and £50 a month regular savings
Fund ratings: S&P AAA, OBSR AAA, *Trustnet 2011 Alpha Manager for the 10 years to 31.12.10

FUND FACTS: JUPITER GROWTH AND INCOME FUND
Manager: Philip Matthews
Launch date:  17.11.97
Historic Yield: 3%
Charges: 5.25% initial, 1.50% annual management fee
Minimum investment: £500 lump sum and £50 a month regular savings
Fund ratings: Citywire AAA rating