Wassenaar – 12 October 2018 – The Juno Selection Fund ended the third quarter of 2018 with a return of + 1.5%. In total, the fund’s net asset value increased by +17.1% during the first nine months of 2018. This left similar indices once again behind: the EMIX Smaller European Companies Index (net) fell by -0.5% during the third quarter. This index has returned +0.6% after three quarters. The Dutch AEX index (dividends reinvested) increased by +0.3% over the quarter and stands at +3.5% for the year.
 

After its initial close to new participants on 1 June 2017, the Juno Selection Fund was also closed to existing participants on 1 October 2018. Frans Jurgens, portfolio manager and co-founder of Juno: “In months leading to the fund’s final close, a large part of Juno’s participants have seized the opportunity to increase their investment. The trust in Juno that this reflects is something that makes us very grateful and proud. “
 
Juno expects continued volatility for the remainder of the year. Nevertheless, Lennart Smits, portfolio manager and co-founder of Juno, remains confident in the underlying profit growth of Juno’s portfolio companies: “In 2018 the portfolio grew with a fairly large number of new companies. Together with the already existing positions, we believe that the portfolio will once again generate an underlying earnings growth of 10-15% this year. Also for the coming years, such earnings growth seems a viable goal for us “.

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.