Relying on the brand recognition of the Lipper name, the cache of exchange-traded funds, and the buzz around target-risk investing, Parsippany, N.J.-based Hennion & Walsh Asset Management is hoping to attract attention, flows and perhaps some space on 401(k) platforms.

The $170 million money manager announced last week three new funds of indexes of ETFs, all based on target-risk indexes comprised of ETFs created by Lipper. Hennion & Walsh's three funds are the SmartGrowth Lipper Optimal Conservative Fund, the Optimal Moderate Fund and the Optimal Growth Fund.

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