Alliance California Municipal Income Fund Releases Monthly Portfolio Update

Aug 29, 2012, 16:06 ET from Alliance California Municipal Income Fund, Inc.

NEW YORK, Aug. 29, 2012 /PRNewswire/ -- Alliance California Municipal Income Fund, Inc. (NYSE: AKP) (the "Fund") today released its monthly portfolio update as of July 31, 2012.

Alliance California Municipal Income Fund, Inc.

Top 10 Fixed-Income Holdings 

Portfolio %

  1) Los Angeles CA Wstwtr Sys     5.00%,  6/01/26            

4.47%

  2) San Francisco CA Pub Util Wtr   Series 2012C             

4.39%

    5.00%,  11/01/26  

  3) Los Angeles Cnty CA Met Trnsp Auth (Los                  

3.78%

    Angeles Cnty Ca Mta Sales Tax)    5.00%,  

    7/01/25  

  4) Los Angeles CA GO   Series 2012A  5.00%,                 

3.51%

    9/01/23      

  5) California Pub Wks Brd (Univ Of California               

3.45%

    Lease)  Series 2011A  5.25%,  12/01/26  

  6) Los Angeles CA Cmnty Redev Agy (Los Angeles Ca           

3.16%

    Cra Grand Ctrl) AMBAC Series 02  5.375%,   

    12/01/26   

  7) Los Angeles CA Harbor Dept     5.00%,  8/01/26           

3.10%

  8) San Diego Cnty CA Regl Trnsp Commn   Series              

2.46%

    2012A  5.00%,  4/01/28   

  9) Coast CA CCD GO   AGM Series 06B 5.00%,                  

2.34%

     8/21/24   

  10) Southern CA Pub Pwr Auth (Los Angeles Ca Dept            

2.33%

     W&p Pwr)    5.25%,  7/01/25   

Sector/Industry Breakdown    

Portfolio %

Revenue  

  Water & Sewer                                        

17.39%

  Electric Utility                                     

5.75%

  Port                                                  

5.23%

  Higher Education - Public                             

4.61%

  Revenue - Miscellaneous                               

4.06%

  Health Care - Not-for-Profit                          

3.25%

  Airport                                               

2.58%

  Higher Education - Private                            

2.38%

  Primary/Secondary Ed. - Private                       

1.52%

  Industrial Development - Utility                      

0.19%

SUBTOTAL                                                   

46.96%

Tax Supported 

  Special Tax                                 

15.19%

  Local G.O.                                         

13.26%

  Tax-Supported Local Lease                             

3.44%

  Assessment District                                   

2.50%

  State G.O.                                            

2.17%

  Tax-Supported State Lease                             

1.72%

SUBTOTAL                                                   

38.28%

Insured/Guaranteed  

  Insured                                               

6.59%

SUBTOTAL                                                    

6.59%

Cash Equivalents 

  Investment Companies                                  

2.80%

SUBTOTAL                                                  

2.80%

Asset-Backed   

  Housing - Multi-Family                                

2.76%

SUBTOTAL                                                    

2.76%

Prerefunded/ETM                                             

2.61%

Total                                                    

100.00%

State Breakdown 

Portfolio %

California                                                

94.36%

Puerto Rico                                                

1.60%

Nevada                                                     

1.05%

Ohio                                                      

0.19%

Other                                                      

2.80%

Total Investments                                        

100.00%

    Credit Quality Breakdown 

Portfolio %

     AAA                                            

17.81%

     AA                                             

52.99%

     A                                              

17.08%

     BBB                                           

3.67%

     Not Rated                                       

3.04%

     Pre-refunded Bonds                              

2.61%

     Short Term Investments                          

2.80%

     Total Investments                             

100.00%

Portfolio Statistics: 

  AMT Percentage:                                       

13.95%

  Average Coupon:                                         

5.29

Percentage of Leverage:  

  Bank Borrowing:                                     

0.00%

  Investment Operations:                              

0.00%

  Preferred Stock:                                   

36.06%

  Tender Option Bonds:                                

4.20%

  Term Asset-Backed Loans Facility (TALF):            

0.00%

  Total Fund Leverage:                              

40.26%*

Average Effective Maturity:                       

6.04 Years

Effective Duration:                               

5.32 Years

Total Net Assets:                          

$201.20 Million**

Common Stock Net Asset Value:                         

$15.05

Number of Holdings:                                       

77

Portfolio Turnover:                                       

14

 

* The total percentage of leverage constitutes 4.20% through the use of tender option bonds, 36.06% in issued and outstanding preferred stock and 0.00% in investment operations, which may include the use of certain portfolio management techniques such as credit default swaps, dollar rolls, negative cash, reverse repurchase agreements and when-issued securities.

 

** Includes 72,550,000 of preferred stock at liquidation value.

The foregoing portfolio characteristics are as of the date indicated and can be expected to change. The Fund is a closed-end U.S.-registered management investment company advised by AllianceBernstein L. P.

 

SOURCE Alliance California Municipal Income Fund, Inc.