Hennion & Walsh Asset Management [see profile] plans to liquidate its line of funds-of-ETFs, dubbed SmartGrowth Mutual Funds, next month. [SEC filing] The three funds have combined assets of around $13.2 million.

Hennion & Walsh launched the funds, which track Lipper's Optimal Target Risk Indices, in June 2007.

The board of trustees of the Advisors' Inner Circle Fund II on Tuesday approved the liquidation of the SmartGrowth Lipper Optimal Conservative, SmartGrowth Lipper Optimal Moderate and SmartGrowth Lipper Optimal Growth index funds. The liquidation will take place on or about March 31.  

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