TECXX — Tax Exempt Portfolio

Data updated: 2026-02-27

TECXX — Tax Exempt Portfolio. Money Market · 0.35% expense ratio. Holdings, fees, performance and SEC filings.

TECXX Fund Overview

TECXX — Tax Exempt Portfolio is a US mutual fund managed by Morgan Stanley Institutional Liquidity Funds, categorised as Money Market. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

TECXX Investment Objective and Strategy

Tax Exempt Portfolio describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Morgan Stanley Institutional Liquidity Funds.

Investment objective

"The Tax-Exempt Portfolio (the ""Fund"") seeks to maximize current income exempt from federal income tax to the extent consistent with preservation of capital and maintenance of liquidity."

Principal investment strategy

"The Fund invests at least 80% of its assets in high quality short-term municipal obligations, the interest of which is exempt from federal income taxes and is not subject to the federal alternative minimum tax. This policy is fundamental and may not be changed without shareholder approval. The Fund may also invest in variable and floating rate demand instruments, tender option bonds, custodial receipts and investments in other investment companies, including money market funds. The Fund may invest up to 20% of its assets in taxable money market securities or in municipal obligations that pay interest income that may be subject to the alternative minimum tax; however, it is currently intended that the Fund will be managed so that income generated by the Fund will not be subject to the alternative minimum tax.

In addition, the Fund may temporarily invest more than 20% of its assets in taxable money market securities for defensive purposes in attempting to respond to adverse market conditions. The Fund operates as an ""institutional money market fund,"" which is neither a ""government money market fund"" nor ""retail money market fund"" as such terms are defined or interpreted under Rule 2a-7 under the Investment Company Act of 1940, as amended (the ""1940 Act""). As such, the Fund is required to price and transact in its shares at a net asset value per share (""NAV"") reflecting market-based values of its portfolio holdings (i.e., at a ""floating"" NAV), rounded to a minimum of the fourth decimal place. Like other money market funds of its type, the Fund is subject to the possible imposition of liquidity fees and/or redemption gates."

TECXX Costs and Fees

TECXX costs about $35 per $10,000 invested per year in fund expenses.

  • Net expense ratio: 0.35%
  • Gross expense ratio: 0.49%

TECXX Debt Constituents

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

TECXX Prospectus and SEC Filings

Official Tax Exempt Portfolio 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.