Tai Chi Fund clocks near 60% for the year


Maintaining a net long position to take full advantage of the recovery of commodity, natural resource and financial stocks helped J O Hambro Investment Management's Tai Chi Fund gain 8.94% in September, leaving it up 59.97% year-to-date.

Manager Alan Gibbs made few significant changes to the portfolio in the month, except for a slight increase in the cash holding to 12.1%. In addition, some gold shares which the fund had sold earlier in the year were reinstated at lower prices.

Towards the end of September there were clear signs that Indonesian thermal coal company Churchill Mining, a longstanding