Alliance California Municipal Income Fund Releases Monthly Portfolio Update

Jul 30, 2013, 16:06 ET from Alliance California Municipal Income Fund, Inc.

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

4.42%

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

4.25%

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

3.81%

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

3.43%

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

3.32%

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

3.08%

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

2.84%

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

2.71%

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

2.43%

10) Coast CA CCD GO   AGM  5.00%,  8/21/24 

2.42%

 

Sector/Industry Breakdown 

  Portfolio %



Revenue 


   Water & Sewer                      

14.86%

   Electric Utility          

7.87%

   Port                         

5.80%

   Revenue - Miscellaneous              

5.76%

   Higher Education - Public             

3.43%

   Airport                             

2.59%

   Higher Education - Private            

2.39%

   Primary/Secondary Ed. - Private             

1.42%

   Health Care - Not-for-Profit            

1.39%

   Industrial Development - Utility       

0.20%

SUBTOTAL                           

45.71%

   Tax Supported  


   Special Tax                

21.93%

   Local G.O.                   

10.03%

   Tax-Supported Local Lease               

3.47%

   Assessment District              

2.06%

   Tax-Supported State Lease      

1.81%

   State G.O.                      

1.48%

SUBTOTAL                      

40.78%

Insured/Guaranteed 


   Insured                      

8.34%

SUBTOTAL                          

8.34%

Asset-Backed


   Housing - Multi-Family                  

2.85%

SUBTOTAL                     

2.85%

Cash Equivalents 


   Investment Companies                

1.75%

SUBTOTAL                                

1.75%

Prerefunded/ETM                       

0.57%

Total                       

100.00%

 

State Breakdown 

  Portfolio %



California                               

91.57%

Puerto Rico             

4.40%

Nevada                   

1.05%

Guam                   

1.03%

Ohio                   

0.20%

Other                       

1.75%

Total Investments               

100.00%

 

Credit Quality Breakdown 

  Portfolio %



   AAA                    

16.69%

   AA                         

51.14%

   A                            

19.47%

   BBB                         

5.89%

   BB                         

1.49%

   Not Rated                    

3.00%

   Pre-refunded Bonds         

0.57%

   Short Term Investments          

1.75%

   Total Investments                

100.00%

 

Bonds By Maturity 

  Portfolio %



Less than 1 year                 

2.32%

1 to 5 years           

1.30%

5 to 10 years           

7.07%

10 to 20 years                

77.73%

20 to 30 years                   

8.72%

More than 30 years            

2.86%

Other                   

0.00%

Total Investments           

100.00%

 

Portfolio Statistics: 




   AMT Percentage:             

13.69%

   Average Coupon:              

5.38%

   Percentage of Leverage: 


      Bank Borrowing:                

0.00%

      Investment Operations:            

0.00%

      Preferred Stock:                     

37.88%

      Tender Option Bonds:      

4.41%

      Term Asset-Backed Loans Facility (TALF):      

0.00%

      Total Fund Leverage:          

                     42.29%*

   Average Effective Maturity:      

                  7.05 Years

   Effective Duration:        

                        5.84 Years

   Total Net Assets:            

               $191.52 Million**

   Common Stock Net Asset Value:         

$13.91

   Number of Holdings:                  

76

   Portfolio Turnover:                   

46%

 

* The total percentage of leverage constitutes 4.41% through the use of tender option bonds, 37.88% 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.