Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers H > Headlines for Hennion & Walsh, Inc. > News item |
Smart Trust, New York Municipal Closed-End Trust registers units
By Toni Weeks
San Diego, Nov. 29 - Smart Trust, New York Municipal Closed-End Income Trust (2011 Series M) 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 and New York income tax, with capital growth as a secondary objective by investing in a fixed, diversified portfolio of publicly traded common stock of closed-end investment companies whose portfolios consist primarily of municipal bonds.
The units will have a sales charge of 3.95% of the public offering price, consisting of 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's initial date of deposit will be in December. The mandatory termination date will be Dec. 17, 2013.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.