Juno Selection Fund Performance +15.6% in 2012
The Juno Selection Fund has continued its long period of outperformance of the European equity indices. The performance during the third quarter was +5,7%, thereby taking the total performance in 2012 to +15.6%.
The compound annual return since inception in January 2008, now stands at +9,3%. With these results, the Fund has consistently ranked among Europe’s top performing funds every year.
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.