Hennion & Walsh’s SmartTrust Unit Investment Trust (UIT) business has entered into a strategic partnership with Closed-end Fund Advisors (CEFA), a US-based registered investment advisory firm that specializes in closed-end funds (CEFs).
Kevin Mahn, CIO of SmartTrust, said: "With CEFA’s CEF space expertise and support as a portfolio consultant, we are confident in the potential of our new BDC strategy."
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John Cole Scott, portfolio manager and executive vice president for CEFA, said: "This is the perfect time for SmartTrust to bring a BDC strategy to market since they are known for performing well when interest rates increase. Like all closed-end fund structures, the BDCs subset also consists of fixed capital, active management and investor liquidity."
Founded in 1989, CEFA provides a blend of CEF-related services, ranging from providing fractional CEF analyst work to sub-advising on a one-time or ongoing basis.
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