Alliance California Municipal Income Fund Releases Monthly Portfolio Update

Dec 24, 2015, 13:06 ET from Alliance California Municipal Income Fund, Inc.

NEW YORK, Dec. 24, 2015 /PRNewswire/ -- Alliance California Municipal Income Fund, Inc.[NYSE: AKP] (the "Fund") today released its monthly portfolio update as of November 30, 2015.

 

Alliance California Municipal Income Fund, Inc.






Top 10 Fixed-Income Holdings

Portfolio %

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

4.46%

2) Los Angeles County Metropolitan Transportation Authority (Los Angeles County Metropolitan

    Transportation Authority Sales Tax)  Series 2009 5.00%, 7/01/25

3.67%

3) California State Public Works Board Series 2011G 5.25%, 12/01/26 (Prerefunded/ETM)

3.54%

4) Los Angeles Department of Water & Power WTR Series 2013B 5.00%, 7/01/32

3.48%

5) Los Angeles Community Redevelopment Agency (Los Angeles Community Redevelopment Agency Sales

    Tax) AMBAC Series 2002A 5.375%, 12/01/26

3.21%

6) Port of Los Angeles Series 2009C 5.00%, 8/01/26

3.03%

7) San Diego Unified School District/CA Series 2013C 5.00%, 7/01/32

2.89%

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

2.80%

9) City of San Francisco CA Public Utilities Commission Wastewater Revenue Series 2013B 5.00%, 10/01/32

2.69%

10) Metropolitan Transportation Authority Series 2014C 5.00%, 11/15/32

2.63%





Sector/Industry Breakdown

Portfolio %

Revenue


Revenue - Miscellaneous

9.79%

Water & Sewer

9.40%

Toll Roads/Transit

8.92%

Electric Utility

4.46%

Higher Education - Public

4.46%

Health Care - Not-for-Profit

3.64%

Port

3.03%

Higher Education - Private

2.09%

Airport

1.73%

Senior Living

1.63%

Primary/Secondary Ed. - Public

1.62%

Primary/Secondary Ed. - Private

1.39%

SUBTOTAL

52.16%

Tax Supported


Special Tax

15.70%

Local G.O.

11.57%

Tax-Supported Local Lease

5.19%

Assessment District

2.30%

State G.O.

1.14%

SUBTOTAL

35.90%

Prerefunded/ETM

6.09%

Insured/Guaranteed


Insured

3.19%

SUBTOTAL

3.19%

Asset-Backed


Housing - Multi-Family

2.66%

SUBTOTAL

2.66%

Total

100.00%



State Breakdown

Portfolio %

California

90.29%

New York

2.63%

Florida

1.44%

New Jersey

1.43%

Guam

1.04%

Nevada

0.95%

Minnesota

0.60%

Indiana

0.54%

Pennsylvania

0.52%

Missouri

0.51%

Ohio

0.05%

Total Investments

100.00%



Credit Quality Breakdown

Portfolio %

AAA

10.23%

AA

59.02%

A

11.55%

BBB

9.95%

B

1.34%

Not Rated

1.82%

Pre-refunded Bonds

6.09%

Total Investments

100.00%



Bonds By Maturity

Portfolio %

Less than 1 year

0.00%

1 to 5 years

0.95%

5 to 10 years

8.55%

10 to 20 years

72.68%

20 to 30 years

17.82%

More than 30 years

0.00%

Other

0.00%

Total Investments

100.00%



Portfolio Statistics:


AMT Percentage:

7.29%

Average Coupon:

5.36%

Percentage of Leverage:


Bank Borrowing:

0.00%

Investment Operations:

0.00%

Preferred Stock:

15.15%

Tender Option Bonds:

4.31%

VMTP Shares:

20.35%

Total Fund Leverage:

39.81%*

Average Effective Maturity:

6.31 Years

Effective Duration:

5.53 Years

Total Net Assets:

$160.60 Million**

Common Stock Net Asset Value:

$15.28

Number of Holdings:

72

Portfolio Turnover:

32%



* The total percentage of leverage constitutes 4.31% through the use


of tender option bonds, 15.15% in issued and outstanding APS,


20.35% in issued and oustanding VMTPs 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 29,875,000 of preferred stock at liquidation value.


The Fund also had outstanding $40,125,000 of VMTPs at liquidation value, which


is not included in Total Net Assets because it is treated as a liability for financial reporting purposes.



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.



RELATED LINKS

http://www.alliancebernstein.com