SEC Info - Van Kampen Tax Exempt Trust - ‘NSAR-B’ for 11/30/95

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Van Kampen Tax Exempt Trust – ‘NSAR-B’ for 11/30/95

As of: Tuesday, 1/30/96 · For: 11/30/95 · Accession #: 763856-96-1 · File #: 811-04746

  As Of               Filer                 Filing    For·On·As Docs:Size

 1/30/96  Van Kampen American Cap Tax E… Tr NSAR-B     11/30/95   16:248K

Annual Report by an Investment Company — Form N-SAR — ICA’40
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: NSAR-B      N-SAR (3.0.A)                                         12     53K 
 8: EX-99.1     Miscellaneous Exhibit                                  1      8K 
 9: EX-99.2     Miscellaneous Exhibit                                  3±    15K 
10: EX-99.3     Miscellaneous Exhibit                                  3     14K 
11: EX-99.4     Miscellaneous Exhibit                                  5     15K 
12: EX-99.5     Miscellaneous Exhibit                                  5     17K 
13: EX-99.6     Miscellaneous Exhibit                                  5     21K 
14: EX-99.7     Miscellaneous Exhibit                                  1      7K 
15: EX-99.8     Miscellaneous Exhibit                                  1      7K 
16: EX-99.9     Miscellaneous Exhibit                                 64±   229K 
 2: EX-27.1A    Financial Data Schedule                                2±     9K 
 3: EX-27.1B    Financial Data Schedule                                2±     9K 
 4: EX-27.1C    Financial Data Schedule                                2±     9K 
 5: EX-27.2A    Financial Data Schedule                                2±    10K 
 6: EX-27.2B    Financial Data Schedule                                2±    10K 
 7: EX-27.2C    Financial Data Schedule                                2±    10K

‘NSAR-B’ — N-SAR (3.0.A)

SEC Info℠ rendering: Data from the Answer File, which may only contain updates to a prior Form N-SAR

Form N-SAR

Annual Report by an Open-End Investment Company

Report
Registrant: Van Kampen American Capital Tax-Exempt Trust — List all N-SARs

Annual Report for the 2nd-half period ended at fiscal year end: 11/30/95

Were there any Answer File errors in the Filing? None FoundNone Found by SEC InfoNot Checked by the FilerOne or more Found by SEC Info
Was the Answer File completed by the Registrant? Yes

Is this an Amendment to a previous Report? No
Is this a change to a previous Report? No
Registrant
1. SEC CIK: 763856
SEC File #: 811-04746

Telephone #: 713-993-0500
2. Address: 2800 Post Oak Blvd.
Houston, TX 77056
3. Is this the first Form N-SAR filed by the Registrant? No
4. Is this the final Form N-SAR filed by the Registrant? No
Funds/Series ↑Top of Form N-SAR
7. Is the Registrant a Funds/Series (multiple portfolios) company? Yes

The number of separate Funds/Series (portfolios) at period end: 2
The number of separate Funds/Series (portfolios) reported here: 2...

N-SAR S# Fund/Series — Filings for F/S#… ⇒ Symbols
↓Information Common to All
↓ Series 1: High Yield Municipal Fund [ renamed
Van Kampen High Yield Municipal Fund ] — S#2281
↓ Series 2: Insured Municipal Fund — N-SARs
Family of Investment Companies
19. Is the Registrant/Series part of a “family” of investment companies? Yes

Total number of registered management investment companies, Series
and portfolios (excluding any Unit Investment Trusts) in the family: 34

The Identification Code of the family for Form N-SAR Filings: ACFHOUSTON
Investment Company Type
27. Is the Registrant an “open-end” investment company? Yes, Open-End
Additional Disclosures
77. Did the Registrant file any additional Exhibits with the filing of this
Report (listed here and filed either herewith — as one of the ‘EX-99.*’
↑Exhibits in this Filing — or separately and incorporated by reference)? Yes

EX-99.77B: Accountant’s Report re: Internal Controls? Yes

EX-99.77C: Matters Submitted to a Vote of Security Holders? Yes

EX-99.77Q1: Other Disclosure? Yes
Subsidiaries
78. Does the Registrant have any wholly-owned investment company
subsidiaries whose operating and financial data are consolidated with
that of the Registrant in this Report? No
All Series ↑List of 2 Funds/Series Reported Here

Information Common to All Funds/Series
All: Investment Adviser
8.1 Name: Van Kampen American Capital Asset Mgt., Inc.
Role: Adviser
SEC File #: 801-08286
Location: Houston, TX
All: Principal Underwriter
11.1 Name: Van Kampen American Capital Distributors, Inc.
SEC File #: 008-19903
Location: Houston, TX
All: Shareholder Servicing/Transfer Agent
12.1 Name: Access Investor Services, Inc.
SEC File #: 084-01621
Location: Kansas City, MO
All: Independent Public Accountant
13.1 Name: Price Waterhouse LLP
Location: Houston, TX
All: Custodian
15.1 Name: State Street Bank & Trust Co.
Role: Custodian
Location: Boston, MA

Type of custody: Section 17(f)(1) — Bank
18. Does the Registrant’s/Series’ Custodian(s) maintain some or all of the
Registrant’s/Series’ securities in a central depository or book-entry
system pursuant to Rule 17f-4? Yes
All: Brokerage Commissions Paid on Portfolio Transactions
20. The brokers who received the largest amount of gross brokerage
commissions during the period:
20.1 Broker: Paine Webber Group, Inc.
IRS #: 13-2638166
Commissions paid ($000s): 23
20.2 Broker: Bear Stearns & Co., Inc.
IRS #: 13-3299429
Commissions paid ($000s): 15
21. Total brokerage commissions paid by the Registrant during the period:
Aggregate paid ($000s): 38
All: Portfolio Transactions with Entities Acting as Principals
22. The entities acting as principals with whom the Registrant did the
largest amount of portfolio transactions, based on total value of
principal, during the period:
22.1 Entity: Salomon Brothers, Inc.
IRS #: 13-3082694
Registrant’s purchases ($000s): 493,590
22.2 Entity: Lehman Brothers, Inc.
IRS #: 13-2518466
Registrant’s purchases ($000s): 181,883
Registrant’s sales ($000s): 35,512
22.3 Entity: State Street Bank & Trust Co.
IRS #: 04-1867445
Registrant’s purchases ($000s): 138,395
22.4 Entity: Paine Webber Group, Inc.
IRS #: 13-2638166
Registrant’s purchases ($000s): 46,751
Registrant’s sales ($000s): 32,798
22.5 Entity: Chemical Securities, Inc.
IRS #: 13-4994650
Registrant’s purchases ($000s): 26,400
Registrant’s sales ($000s): 28,608
22.6 Entity: Merrill Lynch, Inc.
IRS #: 13-5674085
Registrant’s purchases ($000s): 22,300
Registrant’s sales ($000s): 27,985
22.7 Entity: Smith Barney, Inc.
IRS #: 13-1912900
Registrant’s purchases ($000s): 26,715
Registrant’s sales ($000s): 18,492
22.8 Entity: SBC Capital Markets, Inc.
IRS #: 13-2639550
Registrant’s purchases ($000s): 41,765
22.9 Entity: Sims (Herbert J.)
Registrant’s purchases ($000s): 34,903
Registrant’s sales ($000s): 431
22.10 Entity: Prudential Securities
IRS #: 22-2347336
Registrant’s purchases ($000s): 19,032
Registrant’s sales ($000s): 12,653
23. Total purchase/sale transactions by the Registrant during the period:
Aggregate purchases ($000s): 1,223,225
Aggregate sales ($000s): 255,237
All: Holdings of Securities Issued by Registrant’s/Series’ Brokers or Dealers
24. At period end, did the Registrant/Series hold any securities of the
Registrant’s/Series’ regular brokers or dealers, or of the parents of
such brokers or dealers, that derive more than 15% of gross revenue from
securities-related activities? No
All: Considerations which Affected the Participation of Brokers or Dealers
26. Considerations which affected the participation of brokers or dealers or
other entities in commissions or other compensation paid on portfolio
transactions of the Registrant:

Consideration?
Sales of the Registrant’s/Series’ shares ............................... Yes
Receipt of investment research and statistical info .................... Yes
Receipt of quotations for portfolio valuations ......................... Yes
Ability to execute portfolio transactions to obtain the best price
and execution ........................................................ Yes
Receipt of telephone line and wire services ............................ No
Broker or Dealer which is an affiliated person ......................... No
An arrangement to return or credit part or all of commissions or
profits thereon...
To an Investment Adviser or Principal Underwriter, or to an
affiliated person of either ...................................... No
To the Registrant .................................................. No
Other .................................................................. No
All: Payment Plan for the Distribution of Fund Shares
42. For the period, the percentage of total dollars paid directly by the
Registrant/Series under the 12b-1 plan for each of the following:

Percentage of Total Amount Paid (%)
Advertising ............................................................ –
Printing & mailing of prospectuses to other than current shareholders .. –
Payments to underwriters ............................................... 100
Payments to brokers or dealers ......................................... –
Direct payments to sales personnel ..................................... –
Payments to banks and savings & loans .................................. –
Other uses, including payments to its Investment Adviser separate
from the advisory fee ................................................ –
Unallocated payments made for a combination of such services ........... –
43. Total amount paid directly by the Registrant/Series pursuant to its
12b-1 plan ($000s): 3,912
44. If an Investment Adviser or other affiliated person of the
Registrant/Series made unreimbursed payments pursuant to the 12b-1 plan,
the total amount of such payments ($000s): 0
All: Advisory Fee
45. Did the Registrant/Series have an advisory contract during the period? Yes
46. Did the Registrant/Series pay more than one Investment Adviser directly
for investment advice during the period? No
47. Was the Registrant’s/Series’ advisory fee based solely on a percentage
of its assets? Yes
48. Fee (single rate or step rates) applied to the Registrant’s/Series’
assets based on the advisory contract:
Single-fee rate: 0.0%
Step-fee rates:
For 1st $000s: 300,000
Annual rate: 0.6%
Of next $000s: 300,000
Annual rate: 0.55%
& Above $000s: 600,000
Annual rate: 0.5%
54. Indicated below are whether services were supplied or paid for wholly or
in substantial part by Investment Adviser(s) or Administrator(s) in
connection with the advisory or administrative contract(s) but for which
the Adviser(s) or Administrator(s) are not reimbursed by the Registrant:

Provided to the Registrant?
Occupancy and office rental ............................................ Yes
Clerical and bookkeeping services ...................................... No
Accounting services .................................................... No
Services of independent auditors ....................................... No
Services of outside counsel ............................................ No
Registration and filing fees ........................................... No
Stationery, supplies and printing ...................................... Yes
Salaries & compensation of Registrant’s interested Directors ........... Yes
Salaries & compensation of Registrant’s disinterested Directors ........ No
Salaries & compensation of Registrant’s Officers who aren’t Directors .. Yes
Reports to current shareholders ........................................ No
Determination of offering and redemption prices ........................ No
Trading department ..................................................... Yes
Prospectus preparation and printing for current shareholders ........... No
Other .................................................................. Yes
All: Miscellaneous Info
55. Did the Registrant/Series have any of the following outstanding at any
time during the period which exceeded 1% of aggregate net assets:
Overdrafts? No
Bank loans? No
56. During the period, did the Registrant’s/Series’ Investment Adviser(s)
have advisory clients other than investment companies? No
57. Did the Registrant/Series adjust the number of its shares outstanding by
means of a stock split or stock dividend? No
All: Classification and Asset Allocation
58. Is the Registrant/Series a Separate Account of an insurance company? No
59. Is the Registrant/Series a management investment company? Yes
60. Was the Registrant/Series a diversified investment company at any time
during the period? Yes

Was the Registrant/Series a diversified investment company at the end of
the period? Yes
61. The lowest minimum initial investment required by the Registrant/Series
from an investor that is not an employee or otherwise affiliated with
the Registrant/Series, its Investment Adviser, Principal Underwriter or
other affiliated entity: $500
66. Is the Registrant/Series a Fund that usually invests in equity
securities, options & futures on equity securities, indices of equity
securities or securities convertible into equity securities? No
67. Is the Registrant/Series a “balanced” Fund? No
68. Does the Registrant/Series have more than 50% of its net assets at
period end invested in the securities of issuers...
Engaged primarily in production or distribution of precious metals? No
Located primarily in countries other than the United States? No
69. Is the Registrant/Series an index Fund? No
All: Fidelity Bond in Effect at Fiscal Year End
80. Insurer: Ici Mutual Insurance Co.
2nd Insurer: N/A

Aggregate face amount of coverage for the Registrant/Series on all bonds
on which it is named as an insured ($000s): 65,000
81. Is the bond part of a joint fidelity bond(s) shared with other
investment companies or other entities? Yes

How many other investment companies or other entities are covered by the
bond (counting each Fund/Series as a separate investment company): 92
82. Does the mandatory coverage of the fidelity bond have a deductible? Yes

The amount of the deductible ($000s): 100
83. Were any claims with respect to this Registrant/Series filed under the
bond during the period? No
84. Were any losses incurred with respect to this Registrant/Series that
could have been filed as a claim under the fidelity bond but were not? No
85. Are the Registrant’s/Series’ Officers and Directors covered as Officers
and Directors of the Registrant/Series under any errors and omissions
insurance policy owned by the Registrant/Series or anyone else? Yes

Were any claims filed under such policy during the period with respect
to the Registrant/Series? No
Series 1 ↑Information Common to All Funds/Series ↑List of 2 Funds/Series
7. Name: High Yield Municipal Fund [ renamed
Van Kampen High Yield Municipal Fund ] — S#2281

Is this the final Form N-SAR filed for this Fund/Series? No
S 1: Sales and Repurchases
28. Monthly total Net Asset Value (NAV) of sales and repurchases of the
Registrant’s/Series’ shares:
1st Month of period: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 36,692
Reinvestment of dividends and distributions ................ 1,717
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 6,601
2nd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 7,628
Reinvestment of dividends and distributions ................ 1,752
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 5,950
3rd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 7,319
Reinvestment of dividends and distributions ................ 1,747
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 6,603
4th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 11,473
Reinvestment of dividends and distributions ................ 1,780
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 5,076
5th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 6,532
Reinvestment of dividends and distributions ................ 1,721
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 13,734
6th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 13,463
Reinvestment of dividends and distributions ................ 1,757
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 8,133

Total of all months: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 83,107
Reinvestment of dividends and distributions ................ 10,474
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 46,097

Total NAV of the Registrant’s/Series’ share sales during the period
subject to a sales load ($000s): 39,542
S 1: Sales Load (Front-End or Deferred) and Fees (Redemption or Maintenance)
29. Was a front-end sales load deducted from any share sales during the
period? Yes
30. Total front-end sales loads collected from sales (including exchanges)
by Principal Underwriter or by any underwriter which is an affiliated
person of the Principal Underwriter, of the Registrant’s/Series’ shares
during the period ($000s): 3,369

The maximum sales load rate in effect at period end as a percentage of
the offering price: 4.75%
The minimum sales load rate in effect at period end as a percentage of
the offering price: 0.0%
31. Net amount retained by the Registrant’s/Series’ Principal Underwriter or
by any underwriter or dealer which is an affiliated person of the
Principal Underwriter thereof from front-end sales loads collected from
sales of the Registrant’s/Series’ shares during the period ($000s): 399

Amount by which payout by the Registrant’s/Series’ Principal Underwriter
or by any underwriter which is an affiliated person of the Principal
Underwriter thereof to persons or entities selling the
Registrant’s/Series’ shares exceeded that reported in Item 30 ($000s): 0
32. Amount the Registrant’s/Series’ Principal Underwriter and any
underwriters or dealers which are affiliated persons of the Principal
Underwriter paid to dealers which are not affiliated persons of the
Principal Underwriter for selling the Registrant’s/Series’ shares that
were sold with a front-end sales load during the period ($000s): 2,796
33. Amount paid to a captive retail sales force of the Registrant’s/Series’
Principal Underwriter or of any underwriter or dealer which is an
affiliated person of the Principal Underwriter for selling the
Registrant’s shares that were sold with a front-end sales load during
the period ($000s): 174
34. Did the Registrant/Series impose a deferred or contingent deferred sales
load during the period? Yes
35. Total deferred or contingent deferred sales loads collected during the
period from redemptions and repurchases of the Registrant’s/Series’
shares ($000s): 788
36. Did the Registrant/Series retain all monies collected from the deferred
or contingent deferred sales loads during the period? No

The net amount the Registrant/Series retained from deferred or
contingent deferred sales loads ($000s): 0
37. Did the Registrant/Series impose a redemption fee other than a deferred
or contingent sales load during the period? No
39. Were any account maintenance fees or other administrative fees imposed
directly on shareholders during the period? No
S 1: Payment Plan for the Distribution of Fund Shares
40. During the period, did the Registrant/Series have a plan of distribution
adopted pursuant to Rule 12b-1? Yes
41. During the period, did the Registrant/Series use its assets directly to
make payments under the 12b-1 plan? Yes
S 1: Advisory Fee
49. Was the Registrant’s/Series’ advisory fee during the period based solely
on a percentage of its income? No
50. Was the Registrant’s/Series’ advisory fee during the period based on
some combined percentage of its income and assets? No
51. Was the Registrant’s/Series’ advisory fee during the period based in
whole or in part on its investment performance? No
52. Was the Registrant’s/Series’ advisory fee during the period based in
whole or in part on the assets, income or performance of other
Registrants? No
53. Were the expenses of the Registrant/Series limited or reduced at any
time during the period by some agreement or understanding other than by
Blue Sky Laws? Yes

Was the limitation that applied during the period based on...
Assets? Yes
S 1: Classification and Asset Allocation
62. Does the Registrant/Series invest primarily in debt securities,
including convertible debt securities, options & futures on debt
securities or indices of debt securities? Yes

The percentage of net assets in each type at period end:

Debt — Short-Term Maturities
U.S. Treasury ............................... 0.0%
U.S. Government Agency ...................... 0.0
Repurchase agreements ....................... 0.0
State and Municipal – tax-free .............. 1.6
Bank certificates of deposit – domestic ..... 0.0
Bank certificates of deposit – foreign ...... 0.0
Bankers acceptances ......................... 0.0
Commercial paper – taxable .................. 0.0
Time deposits ............................... 0.0
Options ..................................... 0.0
All other ................................... 0.0

Debt — Intermediate & Long-Term Maturities
U.S. Treasury ............................... 0.0%
U.S. Government Agency ...................... 0.0
State and Municipal – tax-free .............. 97.0
Corporate ................................... 0.0
All other ................................... 0.0

Non-Debt
Investments other than debt securities ...... 0.0%
63. The dollar-weighted average portfolio maturity at period end in days or,
if longer than one year, in years (to one decimal place):
Days: 0
Years: 19.8
64. Is the timely payment of principal and interest on any of the
instruments listed in Item 62 insured or guaranteed by an entity other
than the issuer? Yes

Is the issuer of any instrument covered in Item 62 delinquent or in
default as to payment of principal or interest at period end? No
S 1: Investment Practices
70. Activities that are permitted by the Registrant’s/Series’ investment
policies, and which were engaged in during the period:

Activity Permitted Engaged In
Writing or investing in repurchase agreements? Yes to both
Writing or investing in options on equities? No –
Writing or investing in options on debt securities? No –
Writing or investing in options on stock indices? No –
Writing or investing in interest rate futures? Yes to both
Writing or investing in stock index futures? No –
Writing or investing in options on futures? No –
Writing or investing in options on stock index futures? No –
Writing or investing in other commodity futures? No –
Investments in restricted securities? Yes to both
Investments in shares of other investment companies? No –
Investments in securities of foreign issuers? No –
Currency exchange transactions? No –
Loaning portfolio securities? No –
Borrowing of money? Yes No
Purchases/sales by certain exempted affiliated persons? Yes to both
Margin purchases? No –
Short selling? Yes No
S 1: Portfolio Turnover
71. Portfolio turnover rate for the period:
Purchases ($000s): 313,084
Sales ($000s): 174,290

Monthly average Value of portfolio ($000s): 680,690

Percent turnover (lesser of Purchases or Sales, divided by Value): 26%
S 1: Financial Info — Income and Expenses
72. The number of months covered by the values in Items 72 and 73: 12

Income ($000s)
Net interest income .............................................. 54,511
Net dividend income .............................................. –
Account maintenance fees ......................................... –
Net other income ................................................. –

Expenses ($000s)
Advisory fees .................................................... 3,906
Administrator fees ............................................... –
Salaries and other compensation .................................. –
Shareholder Servicing Agent fees ................................. 767
Custodian fees ................................................... 20
Postage .......................................................... –
Printing expenses ................................................ 63
Directors’ fees .................................................. 26
Registration fees ................................................ 104
Taxes ............................................................ –
Interest ......................................................... –
Bookkeeping fees paid to anyone performing this service .......... 158
Auditing fees .................................................... 31
Legal fees ....................................................... 14
Marketing/distribution payments, incl. Rule 12b-1 plan payments .. 3,460
Amortization of organization expenses ............................ –
Shareholder meeting expenses ..................................... –
Other expenses ................................................... 20
Total expenses ................................................... 8,569

Expense reimbursements ($000s): 8

Net investment income ($000s): 45,950

Realized capital gains ($000s): 3,572
Realized capital losses ($000s): 14,744

Net unrealized appreciation during the period ($000s): 56,700
Net unrealized depreciation during the period ($000s): 0

Total income dividends for which the record date passed during the
period ($000s): 32,309
Dividends for a second class of shares ($000s): 13,836

Total capital gains distributions for which the record date passed
during the period ($000s): 0
73. Distributions per share for which the record date passed during the
period, shown in fractions of a cent, if so declared:

Dividends from net investment income: $0.0000

Distribution of capital gains: $0.0000
Other distributions: $0.0000
S 1: Financial Info — Condensed Balance Sheet Data
74. Assets ($000s)
Cash ............................................................. –
Repurchase agreements ............................................ –
Short-term debt securities, other than repurchase agreements ..... 12,580
Long-term debt securities, including convertible debt ............ 757,530
Preferred, conv. preferred and adjustable-rate preferred stock ... –
Common stock ..................................................... –
Options on equities .............................................. –
Options on all futures ........................................... –
Other investments ................................................ –
Receivables from portfolio instruments sold ...................... 8,715
Receivables from affiliated persons .............................. –
Other receivables ................................................ 20,169
All other assets ................................................. 2
Total assets ..................................................... 798,996

Liabilities ($000s)
Payables for portfolio instruments purchased ..................... 13,373
Amounts owed to affiliated persons ............................... 930
Senior long-term debt ............................................ –
Other liabilities:
Reverse repurchase agreements .................................. –
Short sales .................................................... –
Written options ................................................ –
All other liabilities .......................................... 3,382

Equity ($000s)
Senior equity .................................................... –
Net assets of common shareholders ................................ 781,311

Number of shares outstanding (000s): 46,185
Number of shares outstanding of a second class of shares (000s): 23,716

Net Asset Value (NAV) per share (to nearest cent): $0.00

Total number of shareholder accounts: 23,605

Total value of assets in segregated accounts ($000s): 0
75. Monthly average net assets during the period ($000s): 701,209
Series 2 ↑Information Common to All Funds/Series ↑List of 2 Funds/Series
7. Name: Insured Municipal Fund — N-SARs

Is this the final Form N-SAR filed for this Fund/Series? Yes
S 2: Sales and Repurchases
28. Monthly total Net Asset Value (NAV) of sales and repurchases of the
Registrant’s/Series’ shares:
1st Month of period: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 684
Reinvestment of dividends and distributions ................ 232
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 1,208
2nd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 858
Reinvestment of dividends and distributions ................ 229
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 1,605
3rd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 686
Reinvestment of dividends and distributions ................ 228
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 1,245
4th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 559
Reinvestment of dividends and distributions ................ 336
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 2,383
5th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ –
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. –
6th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ –
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. –

Total of all months: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 2,787
Reinvestment of dividends and distributions ................ 1,025
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 6,441

Total NAV of the Registrant’s/Series’ share sales during the period
subject to a sales load ($000s): 997
S 2: Sales Load (Front-End or Deferred) and Fees (Redemption or Maintenance)
29. Was a front-end sales load deducted from any share sales during the
period? Yes
30. Total front-end sales loads collected from sales (including exchanges)
by Principal Underwriter or by any underwriter which is an affiliated
person of the Principal Underwriter, of the Registrant’s/Series’ shares
during the period ($000s): 97

Amount by which payout by the Registrant’s/Series’ Principal Underwriter
or by any underwriter which is an affiliated person of the Principal
Underwriter thereof to persons or entities selling the
Registrant’s/Series’ shares exceeded that reported in Item 30 ($000s): 0
32. Amount the Registrant’s/Series’ Principal Underwriter and any
underwriters or dealers which are affiliated persons of the Principal
Underwriter paid to dealers which are not affiliated persons of the
Principal Underwriter for selling the Registrant’s/Series’ shares that
were sold with a front-end sales load during the period ($000s): 74
33. Amount paid to a captive retail sales force of the Registrant’s/Series’
Principal Underwriter or of any underwriter or dealer which is an
affiliated person of the Principal Underwriter for selling the
Registrant’s shares that were sold with a front-end sales load during
the period ($000s): 9
34. Did the Registrant/Series impose a deferred or contingent deferred sales
load during the period? Yes
35. Total deferred or contingent deferred sales loads collected during the
period from redemptions and repurchases of the Registrant’s/Series’
shares ($000s): 318
36. Did the Registrant/Series retain all monies collected from the deferred
or contingent deferred sales loads during the period? No

The net amount the Registrant/Series retained from deferred or
contingent deferred sales loads ($000s): 0
37. Did the Registrant/Series impose a redemption fee other than a deferred
or contingent sales load during the period? No
39. Were any account maintenance fees or other administrative fees imposed
directly on shareholders during the period? No
S 2: Payment Plan for the Distribution of Fund Shares
40. During the period, did the Registrant/Series have a plan of distribution
adopted pursuant to Rule 12b-1? Yes
41. During the period, did the Registrant/Series use its assets directly to
make payments under the 12b-1 plan? Yes
S 2: Advisory Fee
49. Was the Registrant’s/Series’ advisory fee during the period based solely
on a percentage of its income? No
50. Was the Registrant’s/Series’ advisory fee during the period based on
some combined percentage of its income and assets? No
51. Was the Registrant’s/Series’ advisory fee during the period based in
whole or in part on its investment performance? No
52. Was the Registrant’s/Series’ advisory fee during the period based in
whole or in part on the assets, income or performance of other
Registrants? No
53. Were the expenses of the Registrant/Series limited or reduced at any
time during the period by some agreement or understanding other than by
Blue Sky Laws? No
S 2: Classification and Asset Allocation
62. Does the Registrant/Series invest primarily in debt securities,
including convertible debt securities, options & futures on debt
securities or indices of debt securities? Yes

The percentage of net assets in each type at period end:

Debt — Short-Term Maturities
U.S. Treasury ............................... 0.0%
U.S. Government Agency ...................... 0.0
Repurchase agreements ....................... 0.0
State and Municipal – tax-free .............. 0.0
Bank certificates of deposit – domestic ..... 0.0
Bank certificates of deposit – foreign ...... 0.0
Bankers acceptances ......................... 0.0
Commercial paper – taxable .................. 0.0
Time deposits ............................... 0.0
Options ..................................... 0.0
All other ................................... 0.0

Debt — Intermediate & Long-Term Maturities
U.S. Treasury ............................... 0.0%
U.S. Government Agency ...................... 0.0
State and Municipal – tax-free .............. 0.0
Corporate ................................... 0.0
All other ................................... 0.0

Non-Debt
Investments other than debt securities ...... 0.0%
63. The dollar-weighted average portfolio maturity at period end in days or,
if longer than one year, in years (to one decimal place):
Days: 0
Years: 20.2
64. Is the timely payment of principal and interest on any of the
instruments listed in Item 62 insured or guaranteed by an entity other
than the issuer? Yes

Is the issuer of any instrument covered in Item 62 delinquent or in
default as to payment of principal or interest at period end? No
S 2: Investment Practices
70. Activities that are permitted by the Registrant’s/Series’ investment
policies, and which were engaged in during the period:

Activity Permitted Engaged In
Writing or investing in repurchase agreements? Yes to both
Writing or investing in options on equities? No –
Writing or investing in options on debt securities? No –
Writing or investing in options on stock indices? No –
Writing or investing in interest rate futures? Yes No
Writing or investing in stock index futures? No –
Writing or investing in options on futures? No –
Writing or investing in options on stock index futures? No –
Writing or investing in other commodity futures? No –
Investments in restricted securities? Yes No
Investments in shares of other investment companies? No –
Investments in securities of foreign issuers? No –
Currency exchange transactions? No –
Loaning portfolio securities? No –
Borrowing of money? No –
Purchases/sales by certain exempted affiliated persons? Yes to both
Margin purchases? No –
Short selling? Yes No
S 2: Portfolio Turnover
71. Portfolio turnover rate for the period:
Purchases ($000s): 20,910
Sales ($000s): 45,712

Monthly average Value of portfolio ($000s): 99,812

Percent turnover (lesser of Purchases or Sales, divided by Value): 21%
S 2: Financial Info — Income and Expenses
72. The number of months covered by the values in Items 72 and 73: 12

Income ($000s)
Net interest income .............................................. 5,850
Net dividend income .............................................. –
Account maintenance fees ......................................... –
Net other income ................................................. –

Expenses ($000s)
Advisory fees .................................................... 485
Administrator fees ............................................... –
Salaries and other compensation .................................. –
Shareholder Servicing Agent fees ................................. 87
Custodian fees ................................................... 10
Postage .......................................................... –
Printing expenses ................................................ 32
Directors’ fees .................................................. 9
Registration fees ................................................ 24
Taxes ............................................................ –
Interest ......................................................... –
Bookkeeping fees paid to anyone performing this service .......... 61
Auditing fees .................................................... –
Legal fees ....................................................... 4
Marketing/distribution payments, incl. Rule 12b-1 plan payments .. 452
Amortization of organization expenses ............................ –
Shareholder meeting expenses ..................................... –
Other expenses ................................................... 3
Total expenses ................................................... 1,167

Expense reimbursements ($000s): 0

Net investment income ($000s): 4,683

Realized capital gains ($000s): 984
Realized capital losses ($000s): 1,303

Net unrealized appreciation during the period ($000s): 6,681
Net unrealized depreciation during the period ($000s): 0

Total income dividends for which the record date passed during the
period ($000s): 3,193
Dividends for a second class of shares ($000s): 1,543

Dividends from net investment income: $0.0000

Distribution of capital gains: $0.0000
Other distributions: $0.0000
S 2: Financial Info — Condensed Balance Sheet Data
74. Assets ($000s)
Cash ............................................................. –
Repurchase agreements ............................................ –
Short-term debt securities, other than repurchase agreements ..... –
Long-term debt securities, including convertible debt ............ –
Preferred, conv. preferred and adjustable-rate preferred stock ... –
Common stock ..................................................... –
Options on equities .............................................. –
Options on all futures ........................................... –
Other investments ................................................ –
Receivables from portfolio instruments sold ...................... –
Receivables from affiliated persons .............................. –
Other receivables ................................................ –
All other assets ................................................. –
Total assets ..................................................... –

Liabilities ($000s)
Payables for portfolio instruments purchased ..................... –
Amounts owed to affiliated persons ............................... –
Senior long-term debt ............................................ –
Other liabilities:
Reverse repurchase agreements .................................. –
Short sales .................................................... –
Written options ................................................ –
All other liabilities .......................................... –

Equity ($000s)
Senior equity .................................................... –
Net assets of common shareholders ................................ –

Number of shares outstanding (000s): 0

Net Asset Value (NAV) per share (to nearest cent): $0.00

Total number of shareholder accounts: 0

Total value of assets in segregated accounts ($000s): 0
75. Monthly average net assets during the period ($000s): 105,632
Signature ↑Top of Form N-SAR
/s/ Tanya Loden
Name: Tanya Loden
Title: Controller

↑Top

Filing Submission 0000763856-96-000001 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

Van Kampen Tax Exempt Trust – ‘NSAR-B’ for 11/30/95

As of: Tuesday, 1/30/96 · For: 11/30/95 · Accession #: 763856-96-1 · File #: 811-04746

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Annual Report by an Investment Company — Form N-SAR — ICA’40Filing Table of Contents

‘NSAR-B’ — N-SAR (3.0.A)

Annual Report by an Investment Company — Form N-SAR — ICA’40
Filing Table of Contents