Rogoff returns cash holding to stock market

Polar Capital's Ben Rogoff has put the 3% cash position in his Technology trust back into the stock market as valuations become compelling after the recent correction.

He topped up Apple to 8% - 2% below the maximum allowable weighting - and added to Cisco Systems and Google, among others. "These may be mundane names in a portfolio, but they just seem too cheap," he says. If markets fall further, Rogoff will look to sell defensives, and finally buy stocks that are the "last ones other investors want to sell," such as Amazon, Juniper Networks and Salesforce.com. He concedes some might question holding so much in Apple, which has grown tenfold to a market cap of $248bn (£168bn) in 10 years. Since Rogoff first bought Apple shares in mid-2003 they...