Alliance California Municipal Income Fund Releases Monthly Portfolio Update

29 Oct, 2013, 16:06 ET from Alliance California Municipal Income Fund, Inc.

NEW YORK, Oct. 29, 2013 /PRNewswire/ -- Alliance California Municipal Income Fund, Inc.[NYSE: AKP] (the "Fund") today released its monthly portfolio update as of September 30, 2013.

 

Alliance California Municipal Income Fund, Inc.




Top 10 Fixed-Income Holdings



Portfolio %

1) Los Angeles CA Wstwtr Sys Series 2010A 5.00%, 6/01/26

4.57%

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

3.92%

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

3.52%

4) Los Angeles CA Cmnty Redev Agy (Los Angeles Ca Cra Grand Ctrl) AMBAC Series 2002A 5.375%, 12/01/26

3.43%

5) Los Angeles CA Harbor Dept Series 2009C 5.00%, 8/01/26

3.16%

6) San Diego CA USD GO Series 2013C 5.00%, 7/01/32

2.83%

7) Bay Area Toll Auth CA Series 2013S 5.00%, 4/01/33

2.70%

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

2.49%

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

2.45%

10) San Diego CA Wtr 5.00%, 5/01/31

2.41%



Sector/Industry Breakdown



Portfolio %

Revenue


Water & Sewer

13.36%

Electric Utility

8.03%

Revenue - Miscellaneous

5.88%

Higher Education - Public

3.52%

Port

3.16%

Toll Roads/Transit

2.70%

Airport

2.60%

Higher Education - Private

2.45%

Primary/Secondary Ed. - Private

1.46%

Health Care - Not-for-Profit

1.43%

Industrial Development - Utility

0.19%

SUBTOTAL

44.78%

Tax Supported


Special Tax

23.03%

Local G.O.

12.67%

Tax-Supported Local Lease

2.80%

Assessment District

2.11%

Tax-Supported State Lease

1.86%

State G.O.

1.31%

SUBTOTAL

43.78%

Insured/Guaranteed


Insured

6.97%

SUBTOTAL

6.97%

Asset-Backed


Housing - Multi-Family

2.95%

SUBTOTAL

2.95%

Cash Equivalents


Investment Companies

0.99%

SUBTOTAL

0.99%

Prerefunded/ETM

0.53%

Total

100.00%



State Breakdown



Portfolio %

California

93.11%

Puerto Rico

3.63%

Nevada

1.07%

Guam

1.01%

Ohio

0.19%

Other

0.99%

Total Investments

100.00%



Credit Quality Breakdown



Portfolio %

AAA

15.58%

AA

51.83%

A

20.73%

BBB

5.73%

BB

1.54%

Not Rated

3.07%

Pre-refunded Bonds

0.53%

Short Term Investments

0.99%

Total Investments

100.00%



Bonds By Maturity



Portfolio %

Less than 1 year

1.52%

1 to 5 years

1.32%

5 to 10 years

12.29%

10 to 20 years

72.54%

20 to 30 years

12.32%

More than 30 years

0.01%

Other

0.00%

Total Investments

100.00%



Portfolio Statistics:


AMT Percentage:

13.63%

Average Coupon:

5.34%



Percentage of Leverage:


Bank Borrowing:

0.00%

Investment Operations:

1.00%

Preferred Stock:

38.41%

Tender Option Bonds:

4.47%

Term Asset-Backed Loans Facility (TALF):

0.00%

Total Fund Leverage:

43.88%*

Average Effective Maturity:

6.81 Years

Effective Duration:

5.65 Years

Total Net Assets:

$188.89 Million**

Common Stock Net Asset Value:

$13.60

Number of Holdings:

74

Portfolio Turnover:

46%



* The total percentage of leverage constitutes 4.47% through the use of tender option bonds, 38.41% in issued and outstanding preferred stock and 1.00% 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.