Chart of the month:


Bay Resources Partners

GMT Capital's Bay Resource Partners Fund is up an impressive 10.90% this year, as compared to 0.29% for the Absolute Return U.S. Equity index.

The fund was started in January 1993 by Thomas Claugus, and has delivered an annualized return of 19.44% since inception, making it one of the oldest and best performing funds listed with Absolute Return.

Currently managing $392 million, the fund takes a long-term value based approach to equity investing, with flexibility to go net long or short.

A key area over the last four years has been the energy sector, where the team's industry