Polar's Rogoff sells down 'last generation' tech giants

Polar Capital's Ben Rogoff has urged technology investors to focus on manufacturers of smartphones and tablets who will benefit at this stage of the sector's cycle, rather than last generation large-cap companies such as Microsoft.

Rogoff, the manager of the £398m Global Technology fund, is selling down last-generation PC-related companies and enterprise software groups, such as Microsoft, Oracle, SAP and Symantec. In their place, Rogoff and co-manager Nick Evans are opting for firms such as Apple, creator of the phenomenally successful iPhone, and peers in the smartphone and tablet space. “The new cycle – based on internet computing (‘the cloud’) and mobility (tablets, smartphones) is likely to prove disruptive to those companies that dominate the old form of computing,” says Rogoff. “It will be fantastic fo...