It has been announced today that investment magazine Juno has been acquired by Opes Partners in a move to strengthen the offering of both businesses.
Juno magazine was previously owned and published by Pie Funds, which founded the magazine six years ago. Now, even with a print run of 12,000 per quarter, the acquisition means Juno can now grow further into the market as Kiwis become more financially literate.
Opes Partners are a New Zealand based investment company who specialise in property investment. The company became aware that Pie Funds was open to offers during the Lockdown and made its move.
Opes Partners managing director, Andrew Nicol, says as Kiwis grow their desire to begin investing Juno will be there to meet this heightened demand from consumers.
Nicol identified that New Zealand has a lack of financial literacy, citing a Commission for Financial Capability survey showing that 42 percent of adults found personal money problems to be a distraction at work.
“I know that Juno can be a part of solving that financial literacy problem, which is why I want to make that dream of having Juno on the coffee table of every New Zealand household a reality.”
Resident economist for Opes Partners, Ed McKnight, says the acquisition will open up opportunities for Juno get further into the market, including a new media focus.
“Juno has a sizeable distribution at the moment but we’re wanting to expand into a media offering. Over lockdown we have hired a fantastic videographer which will help us in those first stages of creating a TV channel where we can create a media company.”
Opes Partners is also the publisher of the daily Property Academy Podcast, New Zealand’s No.1 business podcast, according to Apple’s rankings. The podcast gain 170,000 listeners in 9 months and already contributes to a strong media offering.
“We’re already publishing this media content onto our own platforms, so now we can really strength that local focus and provide multi media investment content to people wherever they may be.”
Pie Funds managing director Mike Taylor said: “Our job was to set up Juno in terms of getting New Zealanders reading about investing. I feel like we’ve done that job. Publishing isn’t our core business, so I’m excited that we’ve found someone else who is passionate about taking that vision over.
“We’re very keen to have an on-going relationship with Opes, simply because we like the publication and want to see our clients continue to receive it.”