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

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).