Wassenaar – April 10, 2017 – The Juno Selection Fund has ended the first quarter of 2017 with a positive return of +13.4%. With this result, the fund that focuses on investments in European small- and mid-cap (family-owned) companies, has clearly outperformed the European indices: the Euromoney Smaller Europe Index gained +7.0% this quarter.

Since inception in 2008, the Juno Selection Fund has returned close to +250% in total. This equates to an average performance of +14.5% per annum. The number of participants in the fund has grown to more than 300. Together, they represent assets under management in the fund of circa €210 million. This steep increase, combined with the growth of assets under management in our managed accounts, has led Juno’s management to decide to close the fund for new investors as per June 1st, 2017, in order to maintain the quality and liquidity of the fund. Please click here for the press release in which this decision is explained in more detail.

Juno remains positive about the outlook for the fund’s 2017 performance. Frans Jurgens, director and co-founder of Juno: “Whereas most listed companies in Europe showed disappointing results, 2016 was once again a solid year for the Juno Selection Fund’s portfolio companies. The aggregated reported earnings grew more than 13%.” Lennart Smits, director and co-founder of Juno: ”Within the range of possible investments in European companies, we continue to choose a small, select group of extraordinary businesses. The expected 2017 earnings growth lies north of our 10-15% target.”

About Juno Investment Partners

Juno Investment Partners was established in 2007 as a fully independent fund manager and has an AIFM license (as referred to in Section 2:65 of the Wft), issued by the Dutch regulator AFM. Juno specializes in the selection of exceptional listed (family owned) companies in Europe. Companies that are able to achieve predictable and stable earnings growth year after year are considered for investment. The selection process focuses on the return on invested capital, a low debt ratio and free cash flows of a highly predictable nature. The analysts/portfolio managers compile a highly concentrated portfolio of approximately fifteen companies that they identify, analyze and visit regularly. Selected companies remain in the portfolio for a longer time period (usually more than five years). All analysts/portfolio managers have themselves invested in the Juno funds.

Juno offers three products: The Juno Selection Fund, which focuses on the selection of smaller and medium-sized listed companies, the Juno Continuation Fund for medium-sized companies and individual asset management using the same investment style, for larger clients through managed segregated accounts.

– The Juno Selection Fund was launched in 2008. This mutual fund invests in distinctive European small and medium-sized companies with an initial market capitalization of €250 million to €4 billion. In recent years, this investment style has resulted in above average investment returns for participants in the Juno Selection Fund. This fund has been hard closed for further (follow on) subscriptions since 2018.

– The same investment strategy is applied in the Juno Continuation Fund, which was launched on February 1, 2020. This fund focuses on unique, medium-sized European companies with a market value between €4 billion and €20 billion at the time of initial purchase. As is the case with the Selection Fund, the Continuation Fund also has a strong preference for investments in businesses that are family owned, or companies in which a family or management itself is also a shareholder.