Wassenaar – October 21, 2016 – The Juno Selection Fund, specialized in investments in listed European small- and mid-cap (family-owned) companies, has recuperated from the weak performance that was achieved in the beginning of the year. The performance now stands at a positive return of almost 3% to date, after achieving an increase of 10.6% in the third quarter. This implies that the Juno Selection Fund stays well ahead of the European index which lost 2% this year. Since inception in January 2008, almost nine years ago, the fund has achieved an average compound return of 14% per annum. Over the past five years, the fund has returned an average of 22% per annum. The Juno Selection Fund takes first place in the five-years rankings of Citywire out of a total of 156 funds investing in European small- and midcaps *.

 
The fund’s total value has increased by almost 40% over the first nine months of 2016 to €159.5 million***. This growth is partially a result of positive overall performance, but to a large extent stems from the steady inflow of new money into the fund, from both existing and new participants. Considering the continued strong developments at Juno’s portfolio companies, we remain positive about the future.
 
Frans Jurgens, director and founding partner of Juno: “The historical association investors used to make between fixed income securities and low risk, no longer holds. Bonds have in fact become high risk. Especially when we take into account that in their search for yield, investors are increasingly forced to choose higher risk loans of companies of lesser stature. Comparing the ‘risk-free’ alternative of bonds to the high quality companies that Juno invests in, we are convinced that they are clearly a better alternative.”  
 
Lennart Smits, director and founding partner of Juno: “Almost no debt, high profit margins, large free cash flows and 10-15% earnings growth year in, year out: those are the ingredients of the companies we invest in that keep us fully confident in a further increase of the fund’s value for the remainder of 2016, but especially also for the long term.

About Juno Investment Partners

Juno Investment Partners is an independent asset manager based in The Hague. Juno invests in concentrated portfolios of high-quality European listed companies, often family-owned businesses or companies in which founders and directors are shareholders. The selection process emphasises predictable earnings growth, a high return on invested capital, low debt levels, strong margins and free cash flow, and a sustainable competitive advantage.

Launched in January 2008, the Juno Selection Fund focuses on small- and mid-cap European companies. The portfolio typically consists of around fifteen companies. Each is analysed intensively, and regular contact is maintained with management. The investment horizon is long, generally well over five years. Juno’s analysts, portfolio managers and employees also invest their personal capital in the JSF.

In addition to the JSF, Juno offers individually managed accounts through separate mandates, using the same investment approach. Juno holds an AIFM licence issued by the Dutch Authority for the Financial Markets (AFM).