Wealth Manager - the site for professional investment managers

Register for full access to Citywire’s Fund Manager database, news and analysis. Registration is free and only takes a minute.

Rogoff: I'll accept proxy Apple-Samsung battles but no more

Rogoff: I'll accept proxy Apple-Samsung battles but no more

Polar Capital technology star Ben Rogoff has said he is willing to fund 'proxy' battles between Apple and Samsung but has expressed caution if the giants go head to head.

Rogoff (pictured) holds both names in his popular Polar Capital Technology Trust, which he has decided to make less index aware in a style more akin to his open-ended fund, Polar Capital Global Technology.

While keeping a close eye on the broader tech sector, which has suffered in recent months and seen the Dow Jones World Technology Index shed 5.4% over the last half year, Rogoff is also gauging the tension between Apple and Samsung which earlier this month faced a court showdown over patents.

'We have [seen] proxy battles and I will sponsor those,' A-rated Rogoff told Wealth Manager, but added both stocks risked losing value if tensions escalate.

Between them, Rogoff pointed out Apple and Samsung have virtually tied up some markets, warranting his position in both.

In recent months, however, the raft of product launches seen more widely  in the technology space has weighed ont he sector and as a result has delayed consumer spending.

'At the consumer level we suspect that a slew of recent product launches (iPhone 5, Google, Nexus 7, iPad Mini, Windows Surface, Amazon Kindle Fire HD) may have elongated purchase decisions,' the manager said.

It has not been all doom and gloom for the sector, though, with strong performance in other names like ARM Holdings, eBay, Facebook, Ixia and Radware, all of which are held in Rogoff's closed end fund.

Versus the average manager and looking at his open-end fund performance alone, Rogoff has delivered 40.1% while his peers in the telecoms, media and technology sector have returned 39%.

Rogoff's trust has also performed well and seen its net asset value (NAV) per ordinary share gain 37.6% over the last three years.  This is versus a 23.54% rise in the FTSE World Index.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Investment Pulse: the highs and lows of 2014

Investment Pulse: the highs and lows of 2014

This week's Investment Pulse looks back at some of the biggest stories of the year as well as looking forward to 2015.

Play Inside ETFs: Why the US bull-run still has legs

Inside ETFs: Why the US bull-run still has legs

Global equities suffered a sharp sell-off in the third quarter but exchange traded fund investors are continuing to back the US to outperform in 2015

Play Paul Niven: I won't rip up the Foreign & Colonial Trust history book

Paul Niven: I won't rip up the Foreign & Colonial Trust history book

The newly appointed manager of the Foreign & Colonial trust talks about his plans for UK's oldest investment company.

Your Business: Cover Star Club

Manchester wealth firm hires Coutts director for London launch

Manchester wealth firm hires Coutts director for London launch

Former Coutts director Tony Robinson has joined Chartered Wealth Management to head the company’s newly opened London office.

Wealth Manager on Twitter