EXNTX — New York Tax Exempt Series

Data updated: 2023-03-10

EXNTX — New York Tax Exempt Series. Money Market · $99.92M AUM · 0.79% expense ratio · -5.9% 1-yr return. Holdings, fees, performance and SEC filings.

EXNTX Fund Overview

EXNTX — New York Tax Exempt Series is a US mutual fund managed by Manning & Napier Fund, Inc., categorised as Money Market. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

Type: US mutual fund
Manager: Manning & Napier Fund, Inc.
Category: Money Market
Assets under management: $99.92M
1-year return: -5.9%
Ticker: EXNTX
SEC CIK: 0000751173
SEC series ID: S000003637
Share class ID: C000010107

EXNTX Investment Objective and Strategy

New York Tax Exempt Series describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Manning & Napier Fund, Inc..

Investment objective

The Series’ investment objective is to provide as high a level of current income exempt from federal income tax and New York State personal income tax as the Advisor believes is consistent with the preservation of capital.

Principal investment strategy

The Series invests primarily in municipal bonds and other securities the income from which is exempt from federal income tax and New York State personal income tax. The Series will, under normal circumstances, invest at least 80% of its net assets in securities the income from which is exempt from federal and New York income tax, including the Alternative Minimum Tax (AMT). The main issuers of these securities are state and local agencies in New York. In selecting investments for the Series, the Advisor attempts to balance the Series' goals of high income and capital preservation. With this approach, the Advisor attempts to build a portfolio that it believes provides the opportunity to earn current income; however, the Advisor will only purchase investment grade securities, or those securities determined by the Advisor to be of equivalent quality, and will maintain other selection criteria in an attempt to avoid permanent capital loss.

Bond Selection Process The Advisor emphasizes those bond market sectors and selects for the Series those securities that it believes offer yields sufficient to compensate the investor for the risks specific to the security or sector. In analyzing the relative attractiveness of sectors and individual securities, the Advisor considers: The interest rate sensitivity of each security. The narrowing or widening of interest rate spreads between sectors, securities of different credit quality or securities of different maturities. Maturity and Portfolio Duration The Series is not subject to any maturity or duration restrictions but will vary its average dollar weighted portfolio maturity and duration depending on the Advisors outlook for yields. For example, the Advisor may invest in longer-term bonds when it expects yields to fall in order to realize gains for the Series.

Likewise, the Advisor may invest in shorter-term bonds when it expects yields to rise. Duration is a measure of the expected life of a fixed income security that is used to determine the sensitivity of a securitys price to changes in yields. The prices of fixed income securities with shorter durations generally will be less affected by changes in yields than the prices of fixed income securities with longer durations. For example, a 10 year duration means the fixed income security will decrease in value by 10% if yields rise 1% and increase in value by 10% if yields fall 1%. Credit Quality The Series investments will be limited to investment grade securities, those rated BBB- or above by S&P or Baa3 or above by Moodys, or determined by the Advisor to be of equivalent quality. The Series may invest in taxable investments, including obligations of the U.S.

Government, its agencies or instrumentalities. The Series may also invest in money market instruments or hold its assets in cash. These investments may cause the Series to make a taxable distribution to shareholders. The Advisor will consider selling a security for one or more of the following reasons: to adjust the Series' duration and/or yield curve positioning; there is a deterioration in the credit quality of the issuer; the security's relative value has declined (the spread has tightened such that the security is no longer considered attractively priced); or a more attractive investment opportunity is identified.

EXNTX Performance

Total returns for EXNTX (as of 2026-10-01), from SEC filings.

Period	Total return
1 year	-5.9%
3 years (annualised)	-0.4%

EXNTX Risk Information

Risk metrics for EXNTX, derived from monthly returns in SEC filings.

1-year volatility (annualised): 5.6%

EXNTX Costs and Fees

EXNTX costs about $79 per $10,000 invested per year in fund expenses.

Net expense ratio: 0.79%
Gross expense ratio: 0.79%
Portfolio turnover: 31%
Brokerage commissions: 0.10 bps of average net assets (SEC N-CEN)

EXNTX Cashflows

Over the 12 months to 2022-12, New York Tax Exempt Series had net inflows of $78.03M, from monthly SEC N-PORT filings.

Month	Net flow
2022-12	$1.24M
2022-11	$1.68M
2022-10	$1.82M
2022-09	$2.41M
2022-08	$1.44M
2022-07	$1.70M

EXNTX Debt Constituents

No individual debt constituents are reported in New York Tax Exempt Series's latest SEC N-PORT filing.

EXNTX Prospectus and SEC Filings

Official New York Tax Exempt Series filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

Related Funds

Other Money Market funds tracked on ABC INVEST:

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.