PRESS RELEASE: Juno Selection Fund Achieves Another Strong Result in 1H15
July 30, 2015: The Juno Selection Fund, focused on investing in small- and mid-cap family-owned companies, achieved outstanding results in the first half of the year with a return of 18.6%. After a strong increase in the first quarter of 15.2%, the second quarter, which saw more volatility, contributed a positive 3.2% to the fund’s return. The combined performances enabled the fund to once again outperform the market indices.
Frans Jurgens, Director and Juno Co-founder: “Since our start in January 2008, we have been able to achieve an average annual return of 14.2%. The companies in the portfolio have reported annual average earnings growth of 15.4%. This aptly reflects our investment philosophy: the returns from our investments should not come from market timing, but rather from research and discovery of outstanding companies with stable and strong revenue and earnings growth.”
The cumulative return of the fund since inception is now +169%. The total value of the fund has grown to €88.8M versus €60M at the end of 2014. This growth comes from a combination of strong performance as well as inflows from new and existing clients.
Lennart Smits, Director and Juno Co-founder is optimistic about prospects for the rest of the year: “Juno has chosen a strategy of investing in a highly concentrated portfolio of European family-owned companies. They are selected from a small group of Europe’s strongest and most profitable businesses. Year after year, these companies have been able to produce an average annual aggregated earnings growth of 10%-15%. The price that we pay for these companies remains attractive. Therefore we are confident as we look out towards the remainder of the year and the longer term.”
* In this investment style, Juno manages in total over 155 million euros, including direct mandates from family offices etc.
About Juno Selection Fund and Juno Investment Partners
Juno invests in unique European small- and mid-Cap companies. For the most part, these are family-owned companies, or companies where a family or management is also a shareholder. Companies that can continue to achieve predictable and stable profit growth, year after year, are considered for investment. During this selection process, the emphasis lies on 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 (on average more than three years). With this investment style, Juno has achieved consistent superior investment results for its clients during the past years.The Juno Selection Fund is managed by Juno Investment Partners. Juno Investment Partners has an AFM licence for discretionary asset management for direct mandates.
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