67 WALL STREET, New York - January 3, 2014 - The Wall Street Transcript has just published its Investing Strategies Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs, Equity Analysts and Money Managers. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
Topics covered: Small Cap Investing - Upside in Small-Cap Stocks - Contrarian Approach to Investing - Quality of Business - Investing in Tangible Assets - Value in Emerging Markets - Cash-Flow-Oriented Global Companies - Turnaround Situations in Small and Micro Caps
Companies include: Unit Investment Trusts (UITs)
In the following excerpt from the Investing Strategies Report, an experienced money manager discusses the benefits of Unit Investment Trusts (UITs) for investors:
TWST: Let's begin with a brief introduction to the firm to refresh our memories, including some highlights from your history, an overview of your services, your client base and total assets under management.
Mr. Mahn: Hennion & Walsh has been in business for about 23 years now, having opened our doors originally in 1990. We operate out of three separate companies, the first being Hennion & Walsh, Inc., which is a full-service, independent broker/dealer, which specializes primarily in fixed income securities, notably municipal bonds. With headquarters in Parsippany, New Jersey, we have over 100 employees, about 18,000 retail accounts and over $2 billion in client assets under supervision.
We also have Hennion & Walsh Asset Management Company, for which I'm proud to be the President and Chief Investment Officer. Within our Asset Management Company, we offer customized, managed portfolio solutions for high-net-worth individuals, pension plans, foundations and endowments. We also serve as a portfolio supervisor to the SmartTrust platform of Unit Investment Trusts, UITs, and I'm proud to say that SmartTrust, which has been providing UITs for over 10 years, is now, one of the top five largest sponsors of UITs in the country.
And finally, our third company is Hennion & Walsh Wealth Advisors, which provides estate planning and insurance solutions, whether they be life insurance, long-term care insurance or annuities to our clients.
TWST: Tell us a little bit more about your SmartTrust Unit Investment Trust business.
Mr. Mahn: SmartTrust is a boutique provider of Unit Investment Trusts. Our UITs aim to provide for diversified income and total return opportunities through a UIT product structure. A lot of retail investors and a lot of advisers may be familiar with UITs based upon their experiences in the late 1970s and the early 1980s through the infamous "Dogs of the Dow" trust. But over time, with the advent of fee-based accounts, mutual funds, exchange-traded funds and closed-end funds, investors started to gravitate away from UITs for a variety of reasons.
However, over the course of the last two years, we've actually seen advisers and investors come back full force into UITs. Last year alone, nearly $72 billion in assets were deposited into UITs, and this year UITs are currently on pace to have over $60 billion of additional deposits. At SmartTrust, we have been fortunate to take part in this return in UIT popularity.
A couple of the interesting characteristics about UITs are that once the portfolio is built, it cannot be adjusted...
For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
- Utility Industry
- Unit Investment Trusts