Opes Partners Buys JUNO, NZ's Only Investment Magazine

Posted by Ed McKnight on 18/06/20
049 A5053

New Zealand’s only investment magazine, JUNO magazine, has just been acquired by property investment advisory firm, Opes Partners.

 

JUNO editor, Brenda Ward says “I’m just so excited about the future for JUNO magazine. I can see that in the future with Opes, you have a magazine in growth mode and a company in growth mode. Together, we can work in partnership to fulfil our goals for the publication.”

JUNO magazine was previously owned and published by Pie Funds, which founded the magazine six years ago. During that period, circulation snowballed to the point where, now, JUNO magazine prints 12,000 copies per quarterly issue.

Based on those figures, JUNO has a wider circulation than the likes of M2 Magazine and the now-defunct Metro magazine.

Opes Partners managing director, Andrew Nicol said: “I got excited when I met with [JUNO magazine editor] Brenda six months ago, and she shared her vision of having a copy of JUNO on every coffee table in New Zealand.”

Nicol identified that New Zealand has a lack of financial literacy, citing a Commission for Financial Capability survey showing that 42% of adults found personal money problems to be a distraction at work. He also says that another study showed that New Zealand adults would rather talk to their children about drugs and alcohol than talk about money.

Nicol continues: “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.”

All staff working for the magazine at the date of acquisition will continue to be employed by the new publisher.

Nicol says he became aware that Pie Funds was open to offers during the Covid-19 shutdown, which he acknowledges had been tough on magazine publishers.

“We approached Pie Funds and are delighted that JUNO is now part of the Opes family.”

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.”

Opes Partners is also the publisher of the daily Property Academy Podcast, New Zealand’s No.1 business podcast, according to Apple’s rankings.