A cornerstone of our research process has always been an interaction with target companies and their managements. Our experience has shown that owners' and managers' long term vision is a key extra financial criterion that determines companies' subsequent financial success. A long term vision can only be viable if it is in accord with the surrounding society, consisting of all the stakeholders of the company. We believe that good management of environmental, social and governance (ESG) issues over time translates into good financial performance. Therefore, we engage with companies in our portfolios to help them identify the business case for responsible business practices; encourage companies to comply with the UN Global Compact principles; and transparently report on the implementation of their ESG considerations and performance.