Alliance California Municipal Income Fund Releases Monthly Portfolio Update

Nov 25, 2013, 16:06 ET from Alliance California Municipal Income Fund, Inc.

NEW YORK, Nov. 25, 2013 /PRNewswire/ -- Alliance California Municipal Income Fund, Inc. [NYSE: AKP] (the "Fund") today released its monthly portfolio update as of October 31, 2013.

 

Alliance California Municipal Income Fund, Inc.


Top 10 Fixed-Income Holdings



Portfolio %

1) Univ of California Series 2012G 5.00%, 5/15/31

4.34%

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

3.84%

3) California Pub Wks Brd Series 2011G 5.25%, 12/01/21 (Prerefunded/ETM)

3.72%

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

3.34%

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

3.10%

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

2.76%

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

2.66%

8) San Francisco City/Cnty CA Pub Util Wtr Series 2013B 5.00%, 10/01/32

2.56%

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

2.43%

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

2.42%



Sector/Industry Breakdown



Portfolio %

Revenue


Water & Sewer

11.17%

Electric Utility

7.85%

Revenue - Miscellaneous

5.67%

Higher Education - Public

4.34%

Port

3.10%

Toll Roads/Transit

2.66%

Airport

2.55%

Higher Education - Private

2.40%

Primary/Secondary Ed. - Private

1.43%

Health Care - Not-for-Profit

1.40%

Industrial Development - Utility

0.19%

SUBTOTAL

42.76%

Tax Supported


Special Tax

20.42%

Local G.O.

12.43%

Tax-Supported Local Lease

2.75%

State G.O.

2.13%

Assessment District

2.07%

Tax-Supported State Lease

1.82%

SUBTOTAL

41.62%

Insured/Guaranteed


Insured

6.80%

SUBTOTAL

6.80%

Prerefunded/ETM

4.24%

Asset-Backed


Housing - Multi-Family

2.87%

SUBTOTAL

2.87%

Cash Equivalents


Investment Companies

1.71%

SUBTOTAL

1.71%

Total

100.00%



State Breakdown



Portfolio %

California

92.49%

Puerto Rico

3.58%

Nevada

1.05%

Guam

0.98%

Ohio

0.19%

Other

1.71%

Total Investments

100.00%



Credit Quality Breakdown



Portfolio %

AAA

13.05%

AA

49.78%

A

21.25%

BBB

5.47%

BB

1.50%

Not Rated

3.00%

Pre-refunded Bonds

4.24%

Short Term Investments

1.71%

Total Investments

100.00%



Bonds By Maturity



Portfolio %

Less than 1 year

2.22%

1 to 5 years

1.30%

5 to 10 years

15.70%

10 to 20 years

68.71%

20 to 30 years

12.05%

More than 30 years

0.02%

Other

0.00%

Total Investments

100.00%



Portfolio Statistics:


AMT Percentage:

13.43%

Average Coupon:

5.40%

Percentage of Leverage:


Bank Borrowing:

0.00%

Investment Operations:

0.00%

Preferred Stock:

38.09%

Tender Option Bonds:

4.44%

Term Asset-Backed Loans Facility (TALF):

0.00%

Total Fund Leverage:

42.53%*

Average Effective Maturity:

6.97 Years

Effective Duration:

5.98 Years

Total Net Assets:

$190.45 Million**

Common Stock Net Asset Value:

$13.78

Number of Holdings:

74

Portfolio Turnover:

46%



* The total percentage of leverage constitutes 4.44% through the use of tender option bonds, 38.09% 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.