ETF Securities has introduced the ETFS Precious Metals Basket, an exchange-traded fund that holds fixed physical weights of gold, silver, platinum and palladium.

The fund "was developed in response to demand from a diverse client base looking for a single-ticker solution that provides cost-effective precious metals exposure in a physically backed fund," Fred Jheon, head of product and business development at ETF Securities, said in a press release Thursday.

The portfolio "allows our clients to either hold each product individually or customize according to their investment outlook. We believe that the introduction of this unique product will fill a need in the marketplace and position ETF Securities for further growth in the U.S," Jheon added.

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