Alliance California Municipal Income Fund Releases Monthly Portfolio Update

Aug 27, 2013, 16:06 ET from Alliance California Municipal Income Fund, Inc.

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

4.46%


2) San Francisco City/Cnty CA Pub Util Wtr              

4.31%


    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          

3.47%


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



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

3.41%


    Cra Grand Ctrl) AMBAC Series 02  5.375%, 



    12/01/26 



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

3.13%


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

2.78%


    5/01/29 



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

2.59%


    5.00%,  8/01/43 



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

2.49%


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

2.42%


      8/01/28 










Sector/Industry Breakdown 








Portfolio %



Revenue 





Water & Sewer     

15.08%




Electric Utility       

7.94%




Port                

5.91%




Revenue - Miscellaneous         

5.81%




Higher Education - Public       

3.47%




Airport                       

2.62%




Higher Education - Private       

2.43%




Primary/Secondary Ed. - Private   

1.46%




Health Care - Not-for-Profit       

1.43%




Industrial Development - Utility          

0.20%



SUBTOTAL           

46.35%



Tax Supported  





Special Tax           

23.13%




Local G.O.                  

10.06%




Tax-Supported Local Lease       

2.79%




Assessment District                 

2.12%




Tax-Supported State Lease              

1.85%




State G.O.                

1.52%



SUBTOTAL                  

41.47%



Insured/Guaranteed 





Insured                

6.92%



SUBTOTAL               

6.92%



Asset-Backed 





Housing - Multi-Family              

2.94%



SUBTOTAL               

2.94%



Cash Equivalents 





Investment Companies          

1.73%



SUBTOTAL                  

1.73%



Prerefunded/ETM           

0.59%



Total                          

100.00%










State Breakdown 








Portfolio %



California                 

91.81%



Puerto Rico             

4.19%



Nevada                   

1.08%



Guam                      

0.99%



Ohio                          

0.20%



Other                             

1.73%



Total Investments                         

100.00%












Credit Quality Breakdown 








Portfolio %






AAA          

15.37%






AA          

53.01%






A           

18.81%






BBB         

5.89%






BB            

1.53%






Not Rated                

3.07%






Pre-refunded Bonds         

0.59%






Short Term Investments        

1.73%






Total Investments        

100.00%










Bonds By Maturity 








Portfolio % 



Less than 1 year       

2.31%



1 to 5 years        

1.35%



5 to 10 years        

7.80%



10 to 20 years       

77.93%



20 to 30 years         

8.01%



More than 30 years    

2.60%



Other                        

0.00%



Total Investments        

100.00%










Portfolio Statistics: 





AMT Percentage:     

13.73%




Average Coupon:       

5.26%




Percentage of Leverage: 






Bank Borrowing:       

0.00%





Investment Operations:    

0.00%





Preferred Stock:        

38.48%





Tender Option Bonds:        

4.48%





Term Asset-Backed Loans Facility (TALF):    

0.00%





Total Fund Leverage:           

              42.96%*




Average Effective Maturity:         

         6.93 Years




Effective Duration:                  

          5.89 Years




Total Net Assets:                    

       $188.53 Million**




Common Stock Net Asset Value:      

$13.56




Number of Holdings:                       

76




Portfolio Turnover:                         

46%






* The total percentage of leverage constitutes 4.48% through the use of tender option bonds, 38.48% 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.