Return +15.3% After First Half Year
Wassenaar – 12 July 2018 – The
Juno Selection Fund ended the second quarter of 2018 with a return of +5.2%.
Over the first six months, the Juno Selection Fund achieved a solid performance
of +15.3%. The EMIX Smaller Europe Index (formerly Euromoney) increased by +4.2%
this quarter and stands at a positive +1% return after the first six months of
Juno remains positive about the
outlook for the fund’s performance for the rest of 2018 and the longer term.
Frans Jurgens, portfolio manager and co-founder of Juno: “Companies that
offer a product or service that provide demonstrable or perceived savings or
other financial gains for the customer will remain able, also in an economic
downturn, to achieve good earnings growth. Therefore, we remain confident in
the ability of share prices to follow this earnings growth over time”.
Co-founder and portfolio manager Lennart Smits: “We have sought and found
this predictability of earnings growth over the past ten years in our portfolio
companies. On average, their aggregated earnings grew by 14.2% annually,
despite the severe financial crisis in ’08 / ’09. We saw this earnings growth
reflected in the price appreciation of the Juno companies, that rose by a
compound rate of 13.5% per year over the same period “.
The portfolio of the Fund currently
contains 16 holdings of which Simcorp, Grenke and Brembo are the 3 largest. As
of 1 June 2017, the Juno Selection Fund was closed for new participants and
recently Juno announced that the fund will also close to existing participants
as of 1 October 2018. Please click here for the press release and Q&A explaining
About Juno Investment Partners and the Juno Selection Fund
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, analysed 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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Should you have questions pertaining to this press release, please contact Mr. Frans Gunnink at Sharpe Financial Communications: +31-20-820-8641 or firstname.lastname@example.org.