Alliance California Municipal Income Fund Releases Monthly Portfolio Update

Mar 25, 2013, 16:06 ET from Alliance California Municipal Income Fund, Inc.

NEW YORK, March 25, 2013 /PRNewswire/ -- Alliance California Municipal Income Fund, Inc. (NYSE: AKP) (the "Fund") today released its monthly portfolio update as of February 28, 2013.

Alliance California Municipal Income Fund, Inc.

Top 10 Fixed-Income Holdings

Portfolio %

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

4.55%

2) San Francisco City/Cnty CA Pub Util Wtr Series 2012C   5.00%,   11/01/26           

4.47%

3) Los Angeles Cnty CA Met Trnsp Auth (Los Angeles Cnty Ca Mta Sales Tax)   5.00%,  7/01/25    

3.79%

4) California Pub Wks Brd (Univ Of California Lease) Series 2011A 5.25%, 12/01/26           

3.58%

5) Los Angeles CA Cmnty Redev Agy (Los Angeles Ca Cra Grand Ctrl) AMBAC Series   02 5.375%,   12/01/26     

3.19%

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

3.15%

7) Puerto Rico Sales Tax Fin Corp.   Series 2011A    5.00%, 8/01/43 

3.01%

8) Port of Oakland CA   Series 2012P  5.00%,   5/01/29

2.88%

9) Clovis CA USD GO   Series 2012A  5.00%,   8/01/28        

2.50%

10) San Diego Cnty CA Regl Trnsp Commn   Series 2012A 5.00%, 4/01/28   

2.47%

 

Sector/Industry Breakdown

Revenue

Portfolio %

  Water & Sewer                        

15.36%

  Electric Utility                       

8.12%

  Port                                          

6.03%

  Revenue - Miscellaneous                

5.81%

  Higher Education - Public         

3.58%

  Airport                       

2.60%

  Higher Education - Private              

2.41%

  Primary/Secondary Ed. - Private         

1.52%

  Health Care - Not-for-Profit              

1.35%

  Industrial Development - Utility          

0.19%



SUBTOTAL              

46.97%

Tax Supported


  Special Tax             

22.28%

  Local G.O.                 

10.12%

  Tax-Supported Local Lease               

3.48%

  State G.O.                     

2.12%

  Assessment District            

2.01%

  Tax-Supported State Lease        

1.78%

SUBTOTAL                         

41.79%

Insured/Guaranteed


  Insured                                  

6.65%

SUBTOTAL                      

6.65%

Asset-Backed


  Housing - Multi-Family             

2.77%

SUBTOTAL                

2.77%

Prerefunded/ETM                   

1.82%

Total                           

100.00%


State Breakdown

Portfolio %

California                          

93.16%

Puerto Rico                

4.56%

Guam                       

1.05%

Nevada                   

1.04%

Ohio                           

0.19%

Total Investments               

100.00%


Credit Quality Breakdown

Portfolio %

AAA                    

15.16%

AA                    

52.17%

A                       

20.38%

BBB                   

5.96%

BB                         

1.45%

Not Rated                  

3.06%

Pre-refunded Bonds            

1.82%

Total Investments           

100.00%


Bonds By Maturity

Portfolio %

Less than 1 year                  

1.32%

1 to 5 years                       

0.76%

5 to 10 years                     

8.20%

10 to 20 years                   

77.70%

20 to 30 years                    

8.86%

More than 30 years              

3.16%

Other                           

0.00%

Total Investments              

100.00%


Portfolio Statistics:

  AMT Percentage:        

13.55%

  Average Coupon:                      

5.41%

  Percentage of Leverage:

    Bank Borrowing:           

0.00%

    Investment Operations:          

0.19%

    Preferred Stock:                  

35.95%

    Tender Option Bonds:

4.19%

    Term Asset-Backed Loans Facility (TALF):

0.00%

    Total Fund Leverage:

 40.33%*

Average Effective Maturity:

 6.10 Years

Effective Duration:

 5.46 Years

Total Net Assets:

 $201.82 Million**

Common Stock Net Asset Value:

$15.11

Number of Holdings:

77

Portfolio Turnover:

46%


* The total percentage of leverage constitutes 4.19% through the use of tender option bonds, 35.95% in issued and outstanding preferred stock and 0.19% 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.