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UPDATE 2-ETF Securities launches base metals funds

Tuesday, Oct 12, 2010
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* Says to launch ETPs for all six major base metals


* No launch date set yet


* Deutsche says copper fund could hold 300,000-400,000t


(Updates with Deutsche comment, additional quotes, details)


By Amanda Cooper


LONDON, Oct 11 (Reuters) - UK-based ETF Securities said on Monday it would launch exchange-traded products for base metals, as it seeks to tap into a global market worth nearly $120 billion that has been dominated by investment in gold.


The new products will include copper, aluminium, zinc, nickel, lead and tin as well as a basket of all six major base metals, although no launch date has yet been set.


"This new platform is intended to provide investors with exposure to physical industrial metal without the need to purchase and store such metal directly," said Graham Tuckwell, chairman and CEO of ETF Securities. 

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