PRESS RELEASE: Juno Selection Fund Realizes 14.2% in 2014
July 3, 2014: The Juno Selection Fund ended the first half of 2014 with a net asset value of €218.12 per participation. The first quarter was especially strong with a net asset value increase of +12.9%, and Juno was able to keep the upward trend intact during the second quarter with a rise of +1.2%. As per June 30, a positive return of +14.2% was realized for the full year 2014. The fund’s total return since its inception in January 2008 now stands at +118%, which equates to a compound average return of 12.8% per annum.
During the first half year, Juno stayed well ahead of the market indices again. The Dutch AEX (including dividend) increased by only +4.5% during the first six months and the Euromoney Smaller Companies Index returned +6.5%. Morningstar.nl and Lipper Fund Screener follow the developments at different investment funds. As per Juno 30, 2014, Juno remains top ranked in its category, both on a 1-year and on a 5-year basis whereby it has a four-star rating.
European (family-owned) companies once again realized a strong underlying earnings growth during the first six months of the year. The underlying profits have increased by more than 15% per annum since inception of the Juno Selection Fund. This means that the portfolio companies’ profits double every five years. This steady profit growth is the engine behind the fund’s continuously strong results.
Juno selects the strongest listed European companies that preferably have the founding family or management as their main shareholder. Their returns on capital are among the best of their industry and their profit margins are considerably higher than the competition’s. Juno has chosen this strategy because family-owned companies, unlike many others, have a true long-term vision, create a strong corporate policy and have an aversion to debt. This is why we are confident about the second half of 2014 and the long term.
About the Juno Selection Fund and Juno Investment Partners
Juno invests in unique European Small and Mid-Cap companies. Mostly these are family-owned companies, or companies where a family of management is also a 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 / asset 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 long period of time (over three years). With this investment style, Juno has achieved consistent superior investment results for its clients during the past years.
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In case you have questions about this document, please contact Ms. Mariëlle Brinkmann of Sharpe Financial Communications on+31 (0)20-820 86 41