UPDATE 1-Zurich Cantonal platinum ETF holdings rise 27 pct

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LONDON, July 23 (Reuters) - Zurich Cantonal Bank said on Monday the stock of metal it holds to back its platinum exchange-traded fund (ZPLA.S) has risen 27 percent since July 23 to 83,000 ounces.

ZKB Asset Management's head of asset allocation and alternative investments Erich Meier told Reuters that the fund's resilience at a time when many other platinum ETFs have seen outflows is a sign of the different nature of Swiss investors.

"We have much less speculative, hedge-fund driven money in Zurich than in London," he said.

The bank's holdings to back its palladium ETF (ZPAL.S) also inched up 1.6 percent to 424,600 ounces in the same period, against 418,000 on July 23.

ETFs issue securities backed by physical stocks of a certain metal, which remains the property of the investor. "The product has 100 percent guaranteed physical delivery to the client," Meier said.

(Reporting by Jan Harvey; Editing by Michael Roddy)