Jupiter Asset Management, the UK-listed investment house, has promoted two of its equity income managers, Alastair Gunn and Chris Watt, to take on additional fund management responsibilities.

Gunn will take on the management of the Jupiter High Income Fund from Anthony Nutt, with effect from 1 July.

Gunn, who joined Jupiter’s UK equity desk in 2007, after a 20-year career as a sell-side investment analyst, was appointed co-manager of the Jupiter Distribution Fund, alongside bond manager Rhys Petheram in 2010.

Watt will take over the responsibilities of Philip Matthews as manager of the Jupiter Growth & Income Fund and the Jupiter UK Alpha Fund, with effect from 1 May.

Watt has served at Jupiter since 1999 and has worked as part of the fund management team since 2000, principally on the equity desk. He became deputy manager of the Jupiter UK Alpha Fund in July 2006, working alongside lead manager Ben Whitmore. In January 2007, Watt was appointed manager of the Jupiter Responsible Income Fund (previously the Jupiter Environmental Income Fund).

Both men will continue to support the firm’s investment process across all UK equity strategies.

In other recent developments, earlier in the month Jupiter Fund Management said that its assets under management increased to £29.1 billion ($44.4 billion) in the three months to 31 March 2013, up from £26.2 billion at end-December 2012.