PRESS RELEASE: Juno Selection Fund return in 2013: +27.7%
January 2014: The Juno Selection Fund, the investment fund managed by Juno Investment Partners, has generated a satisfactory return over the past year. The Fund’s Net Asset Value increased in 2013 by 21.7%. The Assets Under Management also grew significantly from €19 million to over €35 million.
Our investment style is focused on the long term. Since inception of the fund in January 2008, a positive return of +91% has been achieved. This is a sharp contrast to the returns of the European stock markets over that same period. The annualized return of the Juno Selection Fund comes down to +11.4% per annum, one of the highest of all funds in Europe within our segment.
Our focus on listed family-owned companies in Europe is clearly paying off. The engine behind these returns remains the underlying profit growth of our successful listed family-owned companies. Operationally speaking, 2013 was once again a good year for these portfolio companies. Although we are still awaiting the definitive figures over the full year, we can make a safe assumption based on the first three quarters. This reveals that the underlying profits increased by 10%. This is a little lower than we had hoped at the beginning of the year, though still within our target range of 10-15% per annum.
The underlying profits of our portfolio companies have increased by more than 15% per annum over the past six years; even more than is reflected in the achieved gains of 12.4%. For 2014, we expect the underlying growth in the profits of our portfolio companies to further increase. The products and services they provide continue to satisfy a continuous need and the free cash flows generated offer a wide array of chances to continue to stimulate this growth. Therefore, we continue to look at the future with confidence.
About Juno Investment Partners
invests in extraordinary European Small and Mid Cap companies. Companies
that can continue to achieve a predictable and stable profit growth,
year after year, are considered for investment. During this selection
process, the emphasis lies on the 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 longer period of time
(over three years). Juno uses no derivatives and can be qualified as a
‘long-only’-manager. With this investment style, Juno has achieved
consistent superior investment results for its clients during the past
For questions or comments, please contact Cécile Krikke-Fritz at +31.70.24.00.247, or via e-mail (firstname.lastname@example.org).
Juno Investment Partners
2245 CB, Wassenaar