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Coronation takes new look at platinum stocks as EV sales slow
The slowdown in sales of electric vehicles worldwide has prompted Coronation Fund Managers Ltd. to take a fresh look at South African producers of precious metals used in traditional gasoline engines. Coronation, the country’s third-biggest private fund manager with about R667-billion in assets, is buying stocks in beaten-down platinum miners even as it reduces holdings of the metal itself, according to Nicholas Hops, who runs the Coronation Resources Fund with Nicholas Stein.
The slowdown in sales of electric vehicles worldwide has prompted Coronation Fund Managers Ltd. to take a fresh look at South African producers of precious metals used in traditional gasoline engines. Coronation, the country’s third-biggest private fund manager with about R667-billion in assets, is buying stocks in beaten-down platinum miners even as it reduces holdings of the metal itself, according to Nicholas Hops, who runs the Coronation Resources Fund with Nicholas Stein.
