Source, the UK-based exchange-traded product provider, has launched three new physical precious metal exchange-traded commodities, just a week after iShares launched four similar products.

Source’s three new products invest in silver, platinum and palladium, adding to the firm’s existing $1 billion Physical Gold P-ETC.

Last week iShares, the ETP business of the US asset management giant BlackRock launched its first physically-backed gold, silver, platinum and palladium exchange-traded commodities on the London Stock Exchange.

The trend towards physically-backed precious metals products has been well documented, as investors demand heightened levels of transparency in their investments. Physically-backed gold exchange-traded products of course have held a strong psychological draw since the financial crisis, and such products have had the additional appeal of the yellow metal’s status as a “safe haven” investment.

“Investors look to precious metals as both an investment opportunity and a safe haven. The concept of a physical holding - and the ability to access it in times of crisis - is part of their appeal. It is important that the investment vehicle doesn’t compromise this,” said Ted Hood, Source’s chief executive.

The Source Physical Silver P-ETC, Physical Platinum P-ETC and Physical Palladium P-ETC all carry a 0.39 per cent annual fixed fee and are listed on the London Stock Exchange.

Source’s range now includes 90 equity, fixed income and commodity products and the firm now has some $8.5 billion in assets under management.