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

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.