BNP Paribas is launching a fund that seeks to protect returns from the harms of contango, Index Universe reports. The BNP Paribas Enhanced Volatility Fund will offer long exposure to forward-implied volatility of the S&P 500 Index.

The ETF will invest in futures contracts related to the CBOE Volatility Index. The product will be benchmarked against the BNP Paribas Enhanced Volatility Strategy Index.

Click here for the story from Index Universe.