Smart Trust relaxes methods of achieving volume sales discounts

By Toni Weeks

San Diego, March 9 - Hennion & Walsh, Inc. gave more information about sales charge discounts for four of its unit investment trusts in a 497 filing with the Securities and Exchange Commission.

The changes apply to the Smart Trust, New York Municipal Closed-End Income Trust (2011 Series M); Smart Trust, Diversified Income and Growth Trust, Series 2; Smart Trust, Dynamic Sector Income Trust, Series 2; and Smart Trust, High 20 Dividend Strategy Trust, Series 1.

Effective March 16, a portion of the sales charge will be waived for units of the trust purchased with redemption or termination proceeds from any unit investment trusts, regardless of sponsor, if the purchase threshold for sales discounts is reached. Sales discounts apply to volume purchases of an aggregate $100,000 or more of units made by the same purchaser on a single day from a single broker-dealer.

Currently, only units purchased with redemption or termination proceeds from any of Hennion & Walsh's unit investment trusts help a purchaser qualify for a discount.

The trusts' sponsor is Parsippany, N.J.-based Hennion & Walsh. The portfolio supervisor is Hennion & Walsh Asset Management, Inc.

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