Taurus Funds Management will release a new global precious metals product that will seek to invest in precious metals exchange-traded commodities (ETCs) and related equities.

The new product has a similar structure to the ING Optimix gold and precious metals strategy, which was launched in February this year, but will have a larger exposure to equities.

"We are putting that strategy into a more generalised fund structure for general distribution so that other people can invest in it," Taurus director Brenton Saunders said.

"We should have a generally distributed fund structure for institutional investors within the next six weeks," he said.

The new fund will have a higher exposure to equities, which could be as high as 40 per cent. This compares with a maximum of 25 per cent under the ING Optimix structure.

The rest of the portfolio will be invested in precious metal ETCs, with a majority in the physical gold ETC.

"It will have a slightly broader mandate than the ING products, but it will be along the same lines," Saunders said. "There is a fair amount of interest in it - it is obviously a very unique product."

The ETCs are supplied by ETF Securities and the mandate from Taurus represents a significant increase in the company's activities, ETF Securities head of sales Nigel Phelan said.

ETF Securities said it had more mandates in the pipeline.

"We are in discussions with industry super funds and these discussions are progressing well," Phelan said.

He expected to see new mandates signed around mid-2010.