Alliance California Municipal Income Fund Releases Monthly Portfolio Update

May 28, 2013, 16:06 ET from Alliance California Municipal Income Fund, Inc.

NEW YORK, May 28, 2013 /PRNewswire/ -- Alliance California Municipal Income Fund, Inc.[NYSE: AKP] (the "Fund") today released its monthly portfolio update as of April 30, 2013.

 


Alliance California Municipal Income Fund, Inc.



Top 10 Fixed-Income Holdings



Portfolio %

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

4.58%

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           

3.88%

Angeles Cnty CA MTA Sales Tax)    5.00%,


7/01/25


4) California Pub Wks Brd (Univ of California              

3.57%

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


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

3.21%

CRA Grand Ctrl) AMBAC Series 02  5.375%,


12/01/26


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

3.18%

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

2.97%

5.00%,  8/01/43


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

2.91%

5/01/29


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

2.49%

8/01/28


10) San Diego Cnty CA Regl Trnsp Commn   Series         

2.47%

2012A  5.00%,  4/01/28




Sector/Industry Breakdown



Portfolio %

  Revenue


      Water & Sewer              

15.39%

      Electric Utility                 

8.17%

      Port                                

6.08%

      Revenue - Miscellaneous            

5.83%

      Higher Education - Public            

3.57%

      Airport                                      

2.66%

      Higher Education - Private           

2.42%

      Primary/Secondary Ed. - Private   

1.48%

      Health Care - Not-for-Profit            

1.36%

      Industrial Development - Utility       

0.20%







SUBTOTAL                            

47.16%

Tax Supported


      Special Tax                             

22.35%

      Local G.O.                               

10.20%

      Tax-Supported Local Lease        

3.48%

      State G.O.                                 

2.46%

      Assessment District                    

2.02%

      Tax-Supported State Lease           

1.80%

SUBTOTAL                                   

42.31%

Insured/Guaranteed


      Insured                                          

6.68%

SUBTOTAL                                     

6.68%

Asset-Backed


      Housing - Multi-Family                      

2.78%

SUBTOTAL                                       

2.78%

Prerefunded/ETM                                

0.56%

Cash Equivalents


      Investment Companies                         

0.51%

SUBTOTAL                                          

0.51%

Total                                                  

100.00%



State Breakdown



Portfolio %

California                                             

92.67%

Puerto Rico                                          

4.51%

Guam                                                   

1.07%

Nevada                                                  

1.04%

Ohio                                                       

0.20%

Other                                                      

0.51%

Total Investments                                        

100.00%



      Credit Quality Breakdown



Portfolio %

            AAA                                          

15.27%

            AA                                

52.41%

            A                                   

20.77%

            BBB                               

5.99%

            BB                                  

1.46%

            Not Rated                         

3.03%

            Pre-refunded Bonds            

0.56%

            Short Term Investments       

0.51%

            Total Investments                 

100.00%



Bonds By Maturity



Portfolio %

Less than 1 year                        

1.01%

1 to 5 years                                

1.29%

5 to 10 years                               

7.19%

10 to 20 years                              

78.54%







20 to 30 years                     

8.99%

More than 30 years               

2.98%

Other                                    

0.00%

Total Investments                    

100.00%



Portfolio Statistics:


      AMT Percentage:                     

13.55%

      Average Coupon:                       

5.37%

      Percentage of Leverage:


            Bank Borrowing:                         

0.00%

            Investment Operations:                

0.00%

            Preferred Stock:                           

35.93%

            Tender Option Bonds:                    

4.18%

            Term Asset-Backed Loans Facility (TALF):      

0.00%

            Total Fund Leverage:                         

      40.11%*

Average Effective Maturity:                  

      6.04 Years

Effective Duration:                             

   5.42 Years

Total Net Assets:                          

$201.95 Million**

Common Stock Net Asset Value:       

$15.13

Number of Holdings:                           

78

Portfolio Turnover:                               

46%



* The total percentage of leverage constitutes 4.18% through the use  of tender option bonds, 35.93% 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.