Ben Rogoff has moved fully invested on the £515m Polar Capital Technology trust in the view share prices will be supported even if tech firms see further earnings downgrades.
The manager (pictured) said after a disappointing third quarter earnings season for technology companies, investors’ interests have become aligned with those of policymakers, which will be good news for shares. “Having retained some liquidity ahead of what we feared could prove a trickier earnings season, we have moved the portfolio to a more fully invested position in order to take advantage of modest valuations, strong balance sheets, favourable seasonality and de-risked fourth quarter earnings expectations,” he said. Further downside risks to earnings estimates are “modest”, while ...
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