Hennion And Walsh Inc. introduced fund-of-ETFs (exchange traded funds) mutual funds based upon indexes created by Lipper Inc. The Smart-Growth Lipper Funds include Optimal Conservative, Optimal Moderate, and Optimal Growth Indexes with each tracking New York-based Lippers proprietary Optimal Target-Risk Indexes. Aaron Siegel for InvestmentNews reports the indexes are chosen from all broad-based, sector and industry-specific domestic equity, international equity and fixed-income and commodity asset classes. These funds require a minimum investment of $1,000 and have an expense ratio of 1.5%.
Richard Kang of The Beta Brief has some specific opinions on this innovative concept.
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