Juno Selection Fund 2010 & Q4 performance

PRESS RELEASE: Juno Selection Fund shows 12,2% return in 2010. +28.1% since January 2008.
The investment fund managed by Juno Investment Partners, the Juno Selection Fund, in 2010 once again showed excellent results. The performance came in at 12,2% over the whole year.

Importantly, the returns we have generated over a longer time period are pleasing. Since inception of the fund in January 2008, a positive 28,1% total return was achieved. This translates to an 8.9% compound annual return. As per independent fund analysis and ranking companies and Lipper Fund Screener, this performance makes Juno a top performer over that period, beating both relevant peers and indices.

During the second and third quarter of 2010, we saw investors preference for investments with a more speculative character. Our stable growth stocks that weathered the financial crisis so well, were slightly out of favor for a few months. However, in the final  months of the year we saw share prices of our more important holdings increase rapidly. This was mostly a reflection of the strong underlying profit growth as well as increased market awareness of the operational accomplishments of our companies in the year. This shows that Juno does not have perfect market-timing. However, it does show once more that in time, share prices do follow underlying value creation within our companies. We prefer those ‘marathon runners’  to ‘sprinters’.

Given their predictable growth, high free cash flows, impressive returns on capital and excellent management, combined with current levels of valuation, we believe our companies do not reflect their underlying value. For this reason, Juno is looking forward to the future with great confidence.

About Juno Investment Partners
Juno invests in European Small-, and Midcap equities. The management team has worked in the investment management industry for many years, as both analysts and investors in European companies. They manage the Juno Selection Fund. This fund has an investment horizon of three to five years. The Juno Selection Fund is an open ended fund, organized under Dutch law as a “Fonds voor gemene rekening” or FCP. It trades monthly on intrinsic value, thereby offering its investors good liquidity. Both the fund and the manager are exempt from obtaining a license from the Dutch Financial regulator, AFM, as article 2:74 of the Dutch Wft Law applies. Investors can participate in the fund from an initial investment of € 100’000.

For questions or comments, please contact Frans Jurgens or Lennart Smits on:
+31 (0), or by e-mail (

Juno Investment Partners
Villa Maarheeze
Rijksstraatweg 675
NL-2245 CB, Wassenaar
The Netherlands
tel:   +31.(0)
fax:  +31.(0)