Wassenaar – October 6, 2017 – The Juno Selection Fund ended the third quarter of 2017 with a +1.7% return. After a weaker second quarter, the climbing trend of the first quarter is now back on track. After the first nine months of 2017, the Juno Selection Fund shows a +10.8% return. The Euromoney Smaller Europe Index increased by +4.1% during this quarter and has returned +15.4% to date in 2017.

The growth of the European economy is continuing steadily. Frans Jurgens, director and co-founder of Juno: “Only the weak dollar throws a spanner in the works. In the last months of the year we will see that reflected in the earnings of a number of our portfolio companies”. Lennart Smits, director and co-founder of Juno: “Our portfolio companies nevertheless continue to show stable earnings growth. We therefore expect that our target of 10-15% earnings growth for the portfolio as a whole will again be met this year.”

The fund’s portfolio currently consists of thirteen companies, Simcorp, Dialog, and Grenke being the largest positions. The fund is closed to new participants as per June 1st, 2017. The steep increase in assets under management, both in the fund as via direct accounts (starting at €20 million), has led the manager to this decision in order to safeguard the fund’s investment style. Click here for the press release in which this decision is explained in more detail. At this time, limited capacity remains in the fund for add-on investments from existing participants.

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.