Source launches commodity ETF

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ETF provider Source has launched the Source Bloomberg Commodity Ucits ETF which aims to track the Bloomberg Commodity Index (BCOM).

BCOM was launched in 1998 and covers 20 different commodities.

“Commodity markets picked up in 2016, so it wasn’t a surprise to see new assets in broad commodity ETFs,” said Source’s Chris Mellor. “However, it is surprising how high the fees are on some broad commodity ETFs.”

“As always, some investors want the standard benchmark and others want something more sophisticated. We now offer both,” added Mellor.

Source now tallies more than $4bn in commodity products, including the new BCOM ETF and the existing LGIM Composite ETF.