Juno Investment Partners invests in European listed companies that have the ability to show above-average annual earnings growth in a relatively predictable manner. The efficient use of capital, positive free cash flows and a true long term focus are essential requirements in our investment style.
Very frequently, our attention is drawn to listed family-owned businesses, often with the founder still at the helm and family members as shareholders. We have a distinct preference for businesses that are both able to achieve a high return on capital for a prolonged period of time, and generate high margins and a growing free cash flow. This annually growing earnings flow is the engine behind future positive share price developments. We believe it is important that our portfolio companies’ management is both operationally and financially committed to the company. We prefer to see them as fellow shareholders, holding equity rather than options, which have no downside.
Listed Family-Owned Companies
Several studies have shown that over time listed family-owned companies are not only more profitable, their earnings and share prices also grow faster than those of an average company. This is why Juno focuses mainly on analyzing and valuating this small group of companies, intent on becoming a co-owner and generating an attractive return on investment for our clients.