Global small-caps and the case for direct engagement

The debate over whether direct engagement with companies adds value to fund management has rumbled on for years. It's perhaps not hard to understand why cynics question the benefits of such an approach. For example, in the second half of last year alone we visited businesses in the US, Japan and the UK. Our ports of call included luxury fashion retailer Bruno Cucinelli, electronics manufacturer Tokyo Electron and British High Street mainstay Greggs. It might be tempting to imagine us snapping up £1,500 polo shirts, enjoying a game of Space Invaders and rounding things off with a celeb...