Alliance California Municipal Income Fund Releases Monthly Portfolio Update

28 Apr, 2014, 16:06 ET from Alliance California Municipal Income Fund, Inc.

NEW YORK, April 28, 2014 /PRNewswire/ -- Alliance California Municipal Income Fund, Inc. (NYSE: AKP) (the "Fund") today released its monthly portfolio update as of March 31, 2014.

Alliance California Municipal Income Fund, Inc.

Top 10 Fixed-Income Holdings

Portfolio %

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

4.41%

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

3.83%

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

3.66%

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

3.47%

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

3.31%

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

3.13%

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

2.82%

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

2.72%

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

2.62%

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

2.41%

Sector/Industry Breakdown

Portfolio %

Revenue

Water & Sewer

13.09%

Revenue - Miscellaneous

7.27%

Electric Utility

5.94%

Higher Education - Public

4.41%

Port

3.13%

Toll Roads/Transit

2.72%

Higher Education - Private

2.41%

Airport

1.77%

Primary/Secondary Ed. - Private

1.42%

Health Care - Not-for-Profit

1.38%

Industrial Development - Utility

0.19%

SUBTOTAL

43.73%

Tax Supported

Special Tax

18.01%

Local G.O.

14.95%

Tax-Supported Local Lease

2.74%

State G.O.

2.19%

Assessment District

2.02%

Tax-Supported State Lease

1.80%

SUBTOTAL

41.71%

Insured/Guaranteed

Insured

6.71%

SUBTOTAL

6.71%

Prerefunded/ETM

3.66%

Asset-Backed

Housing - Multi-Family

2.82%

SUBTOTAL

2.82%

Cash Equivalents

Investment Companies

1.37%

SUBTOTAL

1.37%

Total

100.00%

State Breakdown

Portfolio %

California

92.95%

Puerto Rico

3.47%

Nevada

1.02%

Guam

1.00%

Ohio

0.19%

Other

1.37%

Total Investments

100.00%

Credit Quality Breakdown

Portfolio %

AAA

10.54%

AA

57.32%

A

16.98%

BBB

4.37%

BB

2.78%

Not Rated

2.98%

Pre-refunded Bonds

3.66%

Short Term Investments

1.37%

Total Investments

100.00%

Bonds By Maturity

Portfolio %

Less than 1 year

1.37%

1 to 5 years

1.26%

5 to 10 years

15.05%

10 to 20 years

70.17%

20 to 30 years

12.15%

More than 30 years

0.00%

Other

0.00%

Total Investments

100.00%

Portfolio Statistics:

AMT Percentage:

10.17%

Average Coupon:

5.66%

Percentage of Leverage:

Bank Borrowing:

0.00%

Investment Operations:

0.00%

Preferred Stock:

37.31%

Tender Option Bonds:

2.19%

Term Asset-Backed Loans Facility (TALF):

0.00%

Total Fund Leverage:

39.50%*

Average Effective Maturity:

7.15 Years

Effective Duration:

5.76 Years

Total Net Assets:

$182.18 Million**

Common Stock Net Asset Value:

$14.25

Number of Holdings:

72

Portfolio Turnover:

25%

* The total percentage of leverage constitutes 2.19% through the use of tender option bonds, 37.31% 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.