Friends Provident offers precious metals fund

Reuters UK- Friends Provident will offer a precious metals fund to retail investors looking for protection against inflation and financial market turmoil, the company said on Monday.

The fund, managed by U.S.-based Castlestone Management, only holds physical gold, silver and platinum. Half of the fund, the Aliquot Precious Metals fund, is invested in gold, 30 percent in platinum and the remaining 20 percent in silver.

"Precious metals continue to offer investors the best safeguard and insurance against the real risks of inflation and the increasing geopolitical and financial risks existing today," said Angus Murray, founder of Castlestone Management.

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