Wassenaar – 12 July 2018 – The Juno Selection Fund ended the second quarter of 2018 with a return of +5.2%. Over the first six months, the Juno Selection Fund achieved a solid performance of +15.3%. The EMIX Smaller Europe Index (formerly Euromoney) increased by +4.2% this quarter and stands at a positive +1% return after the first six months of 2018.

Juno remains positive about the outlook for the fund’s performance for the rest of 2018 and the longer term. Frans Jurgens, portfolio manager and co-founder of Juno: “Companies that offer a product or service that provide demonstrable or perceived savings or other financial gains for the customer will remain able, also in an economic downturn, to achieve good earnings growth. Therefore, we remain confident in the ability of share prices to follow this earnings growth over time”. Co-founder and portfolio manager Lennart Smits: “We have sought and found this predictability of earnings growth over the past ten years in our portfolio companies. On average, their aggregated earnings grew by 14.2% annually, despite the severe financial crisis in ’08 / ’09. We saw this earnings growth reflected in the price appreciation of the Juno companies, that rose by a compound rate of 13.5% per year over the same period “.

The portfolio of the Fund currently contains 16 holdings of which Simcorp, Grenke and Brembo are the 3 largest.

About Juno Investment Partners

Since 2007, Juno Investment Partners has been investing in a highly concentrated portfolio of European listed companies with predictable and stable earnings growth, often family-owned businesses.

We focus on companies with a high return on invested capital, strong margins, and highly predictable (free) cash flows. These are typically companies with a strong competitive position and clear added value for their clients, enabling them to continue creating value over the long term.

Based on these characteristics, we select a limited number of companies that we want to understand thoroughly. The portfolio consists of approximately fifteen companies. These are analyzed intensively, visited regularly, and monitored over several years. The investment horizon is long, typically well over five years. Our analysts and portfolio managers also invest in the funds themselves.

Juno offers three products. The Juno Selection Fund focuses on small and medium-sized companies. The Juno Continuation Fund focuses on medium-sized companies. In addition, Juno offers individual asset management via managed accounts, using the same investment approach. The Juno Selection Fund was launched in 2008 and invests in European companies with an initial market capitalization between €250 million and €4 billion. The fund was closed to new investments for a long time and has been accessible to existing participants again since April 2023.

The Juno Continuation Fund was launched on February 1, 2020, and invests in medium-sized companies with a market capitalization between €4 and €20 billion. Here, too, the emphasis is on companies that often have family or management as co-shareholders.

Juno holds an AIFM license from the AFM.