Juno invests in unique small to medium-sized European companies with high and predictable non-cyclical earnings growth. These businesses all have unique and often leading positions in their industries. Although not a specific selection requirement, most are either listed family-owned companies or enterprises where a family or management is a major shareholder. In other words: businesses with a long-term mindset that nurture operational stability. Juno manages the Juno Selection Fund and the Juno Continuation Fund. There is a saying in chess: when you see a good move, look for a better one. We believe that the more attention you give to the businesses you invest in, the better your investment decisions are. No high-risk ventures with quick results or mindlessly surfing the stock market average. That's not us. Instead we work to get to the bottom of every bottom line, researching annual reports and business models, analysing industry developments, visiting businesses to kick the tyres and get to know the people who run them personally. We are curious, we ask questions, we pay attention. The better we are at recognising every relevant factor, the better our judgement becomes – and the more successful our investments are. We pay the same attention to our portfolio: a carefully curated selection of ten to fifteen businesses, with shares that we intend to hold on to for the long term. Over time, the companies we invest in demonstrate stable earnings growth. Earnings growth that over time translates into higher share prices. This is the foundation of our success.