Juno Selection Fund: Q4 2014

Press Release: Juno Selection Fund Finishes the Year with a Strong Performance

January 14, 2015: The Juno Selection Fund finished 2014 with a strong performance of 18.6%. The last quarter contributed a considerable 6.2% to the solid performance. With this return, the fund was able to comfortably outperform comparable funds, as well as the market indices. At the end of the year, according to, Juno was ranked first it is category, with five stars, and in the “lowest” risk rating. Since its inception in January 2008, the fund’s return is +127% (or a 12.4% compounded average annual return).

Assets under management nearly doubled in 2014, and as of this writing reached €60 million. Nearly 40% of the fund’s inflows during the year came from existing participants who decided to add to their investment in the fund. In addition, we were able to welcome more than 50 new participants.

           * Return 2014: +19%
Return Q4 2014: +6.2%
CAGR past five years: 14.7%
Assets under management on fund level €60 million

This year our select group of European (family-owned) businesses in the Juno Selection Fund produced strong profit growth. With about 17% growth, 2014 was an outstanding year. In addition, looking back over the last seven years, the underlying profit growth from the companies in our portfolio was well within our 10%-15% annual target. Because of the economic crisis, achieving such profit growth on a consistent basis was not an easy task. The strong correlation between profit growth and share price performance in our holdings enabled our 12.4% compounded average return from the last 7 years to keep up with the upward trend in our companies’ profits.

Our companies’ consistently strong profit growth should also remain the driver for the Juno Selection Fund performance in the years to come. This year, we expect the companies in our portfolio to once again generate a fairly predictable 15% profit growth. Given the attractive valuations of these companies, we believe that we can once again look forward to a good year.

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. has also given Juno a five star rating with a low risk ranking.

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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For more information or enquiries regarding this press release, please contact Sharpe Financial – Frans Gunnink – 06-29 541 542 or