Alliance California Municipal Income Fund Releases Monthly Portfolio Update

NEW YORK, May 23, 2014 /PRNewswire/ -- Alliance California Municipal Income Fund, Inc. (NYSE: AKP) (the "Fund") today released its monthly portfolio update as of April 30, 2014.

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

3.75%

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

3.60%

4) Los Angeles CA Dept W&P Wtr Series 2013B 5.00%, 7/01/32

3.42%

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

3.22%

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

3.07%

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

2.77%

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

2.68%

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

2.58%

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

2.37%



Sector/Industry Breakdown

Portfolio %

Revenue


Water & Sewer

12.84%

Revenue - Miscellaneous

7.12%

Electric Utility

5.86%

Higher Education - Public

4.34%

Port

3.07%

Toll Roads/Transit

2.68%

Higher Education - Private

2.36%

Airport

1.74%

Primary/Secondary Ed. - Private

1.39%

Health Care - Not-for-Profit

1.35%

Industrial Development - Utility

0.18%

SUBTOTAL

42.93%

Tax Supported


Special Tax

19.88%

Local G.O.

13.72%

Tax-Supported Local Lease

2.67%

Assessment District

1.97%

Tax-Supported State Lease

1.75%

State G.O.

1.54%

SUBTOTAL

41.53%

Cash Equivalents


Investment Companies

4.87%

SUBTOTAL

4.87%

Prerefunded/ETM

4.60%

Insured/Guaranteed


Insured

3.33%

SUBTOTAL

3.33%

Asset-Backed


Housing - Multi-Family

2.74%

SUBTOTAL

2.74%

Total

100.00%



State Breakdown

Portfolio %

California

90.27%

Puerto Rico

2.68%

Guam

1.01%

Nevada

0.99%

Ohio

0.18%

Other

4.87%

Total Investments

100.00%



Credit Quality Breakdown

Portfolio %

AAA

10.42%

AA

54.31%

A

16.52%

BBB

4.28%

BB

2.09%

Not Rated

2.91%

Pre-refunded Bonds

4.60%

Short Term Investments

4.87%

Total Investments

100.00%



Bonds By Maturity

Portfolio %

Less than 1 year

5.87%

1 to 5 years

1.22%

5 to 10 years

12.69%

10 to 20 years

66.43%

20 to 30 years

13.79%

More than 30 years

0.00%

Other

0.00%

Total Investments

100.00%



Portfolio Statistics:


AMT Percentage:

9.90%

Average Coupon:

5.26%

Percentage of Leverage:


Bank Borrowing:

0.00%

Investment Operations:

0.00%

Preferred Stock:

37.03%

Tender Option Bonds:

3.92%

Term Asset-Backed Loans Facility (TALF):

0.00%

Total Fund Leverage:

39.20%*

Average Effective Maturity:

6.44 Years

Effective Duration:

5.50 Years

Total Net Assets:

$195.92 Million**

Common Stock Net Asset Value:

$14.42

Number of Holdings:

70

Portfolio Turnover:

25%

* The total percentage of leverage constitutes 2.17% through the use of tender option bonds, 37.03% 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.



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