Alliance California Municipal Income Fund Releases Monthly Portfolio Update

Jan 29, 2013, 16:06 ET from Alliance California Municipal Income Fund, Inc.

NEW YORK, Jan. 29, 2013 /PRNewswire/ -- Alliance California Municipal Income Fund, Inc. (NYSE: AKP) (the "Fund") today released its monthly portfolio update as of December 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       

4.52%

2) San Francisco City/Cnty CA Pub Util Wtr         

4.46%

Series 2012C  5.00%,  11/01/26


3) Los Angeles Cnty CA Met Trnsp Auth (Los           

3.80%

Angeles Cnty Ca Mta Sales Tax)    5.00%,


7/01/25


4) California Pub Wks Brd (Univ Of California         

3.52%

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


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

3.18%

Cra Grand Ctrl) AMBAC Series 02  5.375%,


12/01/26


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

3.16%

7) Port of Oakland CA   Series 2012P  5.00%,             

2.89%

5/01/29


8) Puerto Rico Sales Tax Fin Corp.   Series 2011A        

2.87%

5.00%,  8/01/43


9) Clovis CA USD GO   Series 2012A  5.00%,           

2.51%

8/01/28


10) San Diego Cnty CA Regl Trnsp Commn   Series       

2.48%

2012A  5.00%,  4/01/28


 

Sector/Industry Breakdown


Portfolio %

Revenue


  Water & Sewer                           

15.30%

  Electric Utility                            

8.00%

  Port                                           

6.05%

  Revenue - Miscellaneous             

5.77%

  Higher Education - Public            

3.52%

  Airport                                    

2.59%

  Higher Education - Private       

2.39%

  Primary/Secondary Ed. - Private       

1.54%

  Health Care - Not-for-Profit      

1.34%

  Industrial Development - Utility         

0.19%


SUBTOTAL                 

46.69%

Tax Supported

  Special Tax              

22.13%

  Local G.O.              

10.14%

  Tax-Supported Local Lease       

3.45%

  State G.O.                     

2.09%

  Assessment District          

2.02%

  Tax-Supported State Lease      

1.77%

SUBTOTAL                     

41.60%

Insured/Guaranteed

  Insured                         

6.63%

SUBTOTAL                         

6.63%

Asset-Backed

  Housing - Multi-Family              

2.76%

SUBTOTAL                          

2.76%

Prerefunded/ETM                 

2.32%

Total                                   

100.00%

 

State Breakdown


  Portfolio %

California                 

93.33%

Puerto Rico                

4.40%

Nevada                  

1.05%

Guam                 

1.03%

Ohio                  

0.19%

Total Investments     

100.00%

 

Credit Quality Breakdown


Portfolio %

    AAA                        

15.17%

    AA                              

51.98%

    A                                  

20.14%

    BBB                             

5.87%

    BB                               

1.45%

    Not Rated                    

3.07%

    Pre-refunded Bonds          

2.32%

    Total Investments              

100.00%

 

Bonds By Maturity


Portfolio %

     Less than 1 year                   

1.81%

     1 to 5 years                        

0.76%

     5 to 10 years                       

8.15%

     10 to 20 years                     

77.49%

     20 to 30 years                      

8.75%

     More than 30 years           

3.04%

     Other                                 

0.00%

     Total Investments              

100.00%

 

Portfolio Statistics:

  AMT Percentage:              

13.58%

  Average Coupon:                

5.39%

  Percentage of Leverage:

    Bank Borrowing:                    

0.00%

    Investment Operations:         

1.01%

    Preferred Stock:                 

36.01%

    Tender Option Bonds:                 

4.19%

    Term Asset-Backed Loans Facility (TALF):      

0.00%

    Total Fund Leverage:                   

              41.21%*

  Average Effective Maturity:             

             6.28 Years

  Effective Duration:                      

            5.71 Years

  Total Net Assets:                 

            $201.48 Million**

  Common Stock Net Asset Value:          

$15.07

  Number of Holdings:                 

78

  Portfolio Turnover:                          

46%

* The total percentage of leverage constitutes 4.19% through the use of tender option bonds, 36.01% in issued and outstanding preferred stock and 1.01% 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.