Alliance California Municipal Income Fund Releases Monthly Portfolio Update

Jun 27, 2013, 16:26 ET from Alliance California Municipal Income Fund, Inc.

NEW YORK, June 27, 2013 /PRNewswire/ -- Alliance California Municipal Income Fund, Inc. [NYSE: AKP] (the "Fund") today released its monthly portfolio update as of May 31, 2013.

Alliance California Municipal Income Fund, Inc.


Top 10 Fixed-Income Holdings





Portfolio %

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

4.52%

2) San Francisco City/Cnty CA Pub Util Wtr 

4.39%

Series 2012C  5.00%,  11/01/26


3) Los Angeles Cnty CA Met Trnsp Auth (Los 

3.89%

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

3.25%

Cra Grand Ctrl) AMBAC Series 02  5.375%,


12/01/26


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

3.15%

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

2.99%

5.00%,  8/01/43


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

2.88%

5/01/29


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

2.51%

8/01/28


10) San Diego Cnty CA Regl Trnsp Commn   Series   

2.44%

2012A  5.00%,  4/01/28




Sector/Industry Breakdown



Portfolio %

Revenue


     Water & Sewer

15.26%

     Electric Utility

8.06%

     Port

6.03%

     Revenue - Miscellaneous

5.84%

     Higher Education - Public 

3.52%

     Airport

2.64%

     Higher Education - Private

2.42%

     Primary/Secondary Ed. - Private

1.49%

     Health Care - Not-for-Profit 

1.37%

     Industrial Development - Utility

0.20%

SUBTOTAL

46.83%

Tax Supported


     Special Tax 

22.32%

      Local G.O.    

10.18%

     Tax-Supported Local Lease 

3.49%

     State G.O.             

2.38%

     Assessment District    

2.04%

     Tax-Supported State Lease

1.80%

SUBTOTAL       

42.21%

Insured/Guaranteed


     Insured   

6.76%

SUBTOTAL  

6.76%

Asset-Backed


     Housing - Multi-Family 

2.81%

SUBTOTAL 

2.81%

Cash Equivalents


     Investment Companies

0.83%

SUBTOTAL  

0.83%

Prerefunded/ETM

0.56%

Total 

100.00%



State Breakdown



Portfolio %

California

92.31%

Puerto Rico 

4.55%

Guam   

1.06%

Nevada

1.05%

Ohio

0.20%

Other 

0.83%

Total Investments  

100.00%



     Credit Quality Breakdown



Portfolio %

          AAA

15.31%

          AA

52.04%

          A 

20.72%

          BBB                    

6.02%

          BB 

1.46%

          Not Rated

3.06%

          Pre-refunded Bonds 

0.56%

          Short Term Investments

0.83%

          Total Investments 

100.00%



Bonds By Maturity



Portfolio %

Less than 1 year

1.39%

1 to 5 years  

1.30%

5 to 10 years

7.17%

10 to 20 years   

78.16%

20 to 30 years

8.97%

More than 30 years

3.01%

Other    

0.00%

Total Investments 

100.00%



Portfolio Statistics:


     AMT Percentage: 

13.64%

     Average Coupon:  

5.34%

     Percentage of Leverage:


          Bank Borrowing: 

0.00%

          Investment Operations:  

0.00%

          Preferred Stock: 

36.52%

          Tender Option Bonds: 

4.25%

          Term Asset-Backed Loans Facility (TALF): 

0.00%

          Total Fund Leverage: 

40.77%*

     Average Effective Maturity: 

6.16 Years

     Effective Duration:

5.40 Years

     Total Net Assets: 

$198.65 Million**

     Common Stock Net Asset Value: 

$14.74

     Number of Holdings:

77

     Portfolio Turnover:

46%


* The total percentage of leverage constitutes 4.25% through the use of tender option bonds, 36.52% 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.