Smart Trust registers 2011 series L Tax Free Income Trust units

By Toni Weeks

San Diego, Nov. 1 - Smart Trust, Tax Free Income Trust (2011 Series L) has registered units, according to an S-6 filing with the Securities and Exchange Commission.

The depositor is Parsippany, N.J.-based Hennion & Walsh, Inc.

The trust seeks to provide income that is generally exempt from regular federal income tax by investing in a fixed, diversified portfolio of publicly traded common stocks of closed-end investment companies whose portfolios consist primarily of municipal bonds.

The units have a sales charge of 3.95% of the public offering price, consisting a 1% initial sales charge, a 2.45% deferred sales charge and a 0.5% creation and development fee. The sales charge may be reduced down to 2.45% on a sliding scale depending on the investment amount.

The trust will terminate in two years.

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