Alliance California Municipal Income Fund Releases Monthly Portfolio Update

NEW YORK, Sept. 25, 2012 /PRNewswire/ -- Alliance California Municipal Income Fund, Inc. [NYSE: AKP] (the "Fund") today released its monthly portfolio update as of August 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

4.44%

2) San Francisco City/Cnty CA Pub Util Wtr

4.36%

      Series 2012C  5.00%,  11/01/26


3) Los Angeles Cnty CA Met Trnsp Auth (Los

3.77%

      Angeles Cnty Ca Mta Sales Tax)  5.00%,


      7/01/25


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

3.48%

      9/01/23


5) California Pub Wks Brd (Univ Of California

3.43%

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


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

3.14%

      Cra Grand Ctrl) AMBAC Series 02  5.375%,


      12/01/26


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

3.07%

8) CLOVIS CA USD GO   Series 2012A  5.00%,

2.48%

      8/01/28


9) San Diego Cnty CA Regl Trnsp Commn   Series

2.46%

      2012A  5.00%,  4/01/28


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

2.32%

        8/21/24




Sector/Industry Breakdown



Portfolio %

Revenue


    Water & Sewer

17.23%

    Electric Utility

5.68%

    Port

5.18%

    Higher Education - Public

4.57%

    Revenue - Miscellaneous

4.03%

    Health Care - Not-for-Profit

3.23%

    Airport

2.57%

    Higher Education - Private

2.36%

    Primary/Secondary Ed. - Private

1.51%

    Industrial Development - Utility

0.19%

SUBTOTAL

46.55%

Tax Supported


    Local G.O.

15.64%

    Special Tax

15.13%

    Tax-Supported Local Lease               

3.41%

    State G.O.

2.14%

    Assessment District

2.01%

    Tax-Supported State Lease

1.71%

SUBTOTAL

40.04%

Insured/Guaranteed


    Insured

8.08%

SUBTOTAL

8.08%

Asset-Backed


    Housing - Multi-Family

2.74%

SUBTOTAL

2.74%

Prerefunded/ETM

2.59%

Total

100.00%



State Breakdown



Portfolio %

California

97.19%

Puerto Rico

1.58%

Nevada

1.04%

Ohio

0.19%

Total Investments

100.00%



    Credit Quality Breakdown



Portfolio %

        AAA

19.24%

        AA

55.04%

        A

16.95%

        BBB

3.16%

        Not Rated

3.02%

        Pre-refunded Bonds

2.59%

        Total Investments

100.00%



Portfolio Statistics:


    AMT Percentage:

14.02%

    Average Coupon:

5.29%

    Percentage of Leverage:


        Bank Borrowing:

0.00%

        Investment Operations:

0.74%

        Preferred Stock:

36.11%

        Tender Option Bonds:

4.21%

        Term Asset-Backed Loans Facility (TALF):

0.00%

        Total Fund Leverage:

  41.06%*

    Average Effective Maturity:

  6.20 Years

    Effective Duration:

  5.47 Years

    Total Net Assets:

$200.93 Million**

    Common Stock Net Asset Value:

$15.02

    Number of Holdings:

76

    Portfolio Turnover:

14%

* The total percentage of leverage constitutes 4.21% through the use of tender option bonds, 36.11% in issued and outstanding preferred stock and 0.74% 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.



RELATED LINKS
http://www.alliancebernstein.com

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