Juno continues to maintain a strong lead on the market
Wassenaar – 12 October 2018 – The Juno Selection Fund ended the third quarter of 2018 with a return of + 1.5%. In total, the fund’s net asset value increased by +17.1% during the first nine months of 2018. This left similar indices once again behind: the EMIX Smaller European Companies Index (net) fell by -0.5% during the third quarter. This index has returned +0.6% after three quarters. The Dutch AEX index (dividends reinvested) increased by +0.3% over the quarter and stands at +3.5% for the year.
After its initial close to new participants on 1 June 2017, the Juno Selection Fund was also closed to existing participants on 1 October 2018. Frans Jurgens, portfolio manager and co-founder of Juno: “In months leading to the fund’s final close, a large part of Juno’s participants have seized the opportunity to increase their investment. The trust in Juno that this reflects is something that makes us very grateful and proud. “
Juno expects continued volatility for the remainder of the year. Nevertheless, Lennart Smits, portfolio manager and co-founder of Juno, remains confident in the underlying profit growth of Juno’s portfolio companies: “In 2018 the portfolio grew with a fairly large number of new companies. Together with the already existing positions, we believe that the portfolio will once again generate an underlying earnings growth of 10-15% this year. Also for the coming years, such earnings growth seems a viable goal for us “.
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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