Coronation Takes New Look at Platinum 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 667 billion rand ($37 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.