Any thoughts on JOHCM International Small Cap (JOSAX)? It's run by Robert Cresci who is very experienced in the space (ran the same strategy at Harding Loevner). I'd like to be invested in Grandeur, but it's closed (I did get into GP's EM fund, though). International small cap is a market segment where I believe active management is worth the management fees. Quite frankly it seems like pretty easy pickings right now; just about anyone could start up a strategy and add value. I'd appreciate any thoughts on the strategy and the space in general.