Juno Selection Fund: Q2 2012

Juno Selection Fund outperforms the indices again

The Juno Selection Fund has ended the first half of 2012 with a positive return of +9,4, again outperforming the indices. The average annual compounded return since inception is +8,4%. With these results, the Fund has consistently ranked among Europe’s top performing funds for the past years.

The Juno Selection Fund focuses on successful, listed, family owned companies across Europe. These family owned companies are more profitable, grow faster and their focus on the long term prevails over short term thinking. Furthermore, family owned companies tend to have less debt and focus more on reputation and internal values when determining their strategy.

The increase in the value of the Juno Selection Fund is a direct result of the annual growth of the underlying profits of its portfolio companies. These companies represent a special group of listed companies that are fairly immune to economic headwinds. These non-cyclical companies are selected based on quality of their business, as measured, inter alia, by their above average return on capital and large free cash flows.

The manager of the Juno Selection Fund is confident that the highly predictable growth in underlying earnings of its portfolio companies will further increase in 2012 and the years to come. This earnings growth is the driver behind the steady increase in the value of the Juno Selection Fund.

About Juno Investment Partners

Juno invests in extraordinary European Small and Midcap companies. Often these are family owned businesses or companies where a family or management is also a (major) shareholder. Companies that can continue to achieve a predictable and stable profit growth, year after year, are considered for investment. During this selection process, the emphasis lies on the return on invested capital and free cash flows that are highly predictable in nature. Our analysts / portfolio managers put together a highly concentrated portfolio of companies that they themselves have identified, analyzed and visit frequently. These companies often remain in the portfolio for a longer period of time (over three years). With this investment style, Juno has achieved consistent superior investment results for its clients during the past years.

For questions or comments, please contact Cécile Krikke-Fritz at +, or via e-mail (

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