Tech managers back Apple despite Jobs' resignation

Fund managers have backed technology poster child Apple to continue to shine despite the departure of charismatic CEO Steve Jobs.

Last night Jobs announced he would be stepping down as chief executive of the business he founded back in 1976, having struggled for years with pancreatic cancer. Shares in the group had fallen 2% to $368.5 in early trading, a less significant fall than expected. However, while technology fund managers labelled the departure as a huge blow to the company, they backed Apple - and its share price - to continue to grow longer term. Polar Capital's Ben Rogoff, who manages the group's £327m Technology Trust, holds 10.5% of his fund in Apple, his largest stock. He said Jobs' expected ...