Alliance California Municipal Income Fund Releases Monthly Portfolio Update

Feb 22, 2016, 17:36 ET from Alliance California Municipal Income Fund, Inc.

NEW YORK, Feb. 22, 2016 /PRNewswire/ -- Alliance California Municipal Income Fund, Inc. (NYSE: AKP) (the "Fund") today released its monthly portfolio update as of January 31, 2016.

Alliance California Municipal Income Fund, Inc.

Top 10 Fixed-Income Holdings

Portfolio %

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

4.45%

2) Los Angeles County Metropolitan Transportation Authority (Los Angeles County Metropolitan Transportation Authority Sales Tax)  Series 2009 5.00%, 7/01/25

3.55%

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

3.46%

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

3.43%

5) Los Angeles Community Redevelopment Agency (Los Angeles Community Redevelopment Agency Sales Tax) AMBAC Series 2002A 5.375%, 12/01/26

3.11%

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

2.94%

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

2.86%

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

2.78%

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

2.63%

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

2.62%

 

 

Sector/Industry Breakdown

Portfolio %

Revenue

Revenue - Miscellaneous

9.63%

Water & Sewer

9.24%

Toll Roads/Transit

7.41%

Electric Utility

4.96%

Higher Education - Public

4.45%

Health Care - Not-for-Profit

4.12%

Port

2.99%

Primary/Secondary Ed. - Public

2.62%

Higher Education - Private

2.06%

Airport

1.69%

Senior Living

1.60%

Primary/Secondary Ed. - Private

1.41%

SUBTOTAL

52.18%

Tax Supported

Special Tax

15.36%

Local G.O.

11.45%

Tax-Supported Local Lease

5.17%

Assessment District

2.26%

State G.O.

1.13%

SUBTOTAL

35.37%

Prerefunded/ETM

5.92%

Insured/Guaranteed

Insured

3.08%

SUBTOTAL

3.08%

Asset-Backed

Housing - Multi-Family

2.58%

SUBTOTAL

2.58%

Cash Equivalents

Investment Companies

0.87%

SUBTOTAL

0.87%

Total

100.00%

State Breakdown

Portfolio %

California

90.38%

New York

2.63%

Florida

1.42%

Guam

1.02%

Nevada

0.92%

Minnesota

0.60%

Vermont

0.55%

Indiana

0.53%

Pennsylvania

0.52%

Missouri

0.51%

Ohio

0.05%

Other

0.87%

Total Investments

100.00%

Credit Quality Breakdown

Portfolio %

AAA

12.25%

AA

56.48%

A

10.54%

BBB

10.82%

B

1.30%

Not Rated

1.82%

Pre-refunded Bonds

5.92%

Short Term Investments

0.87%

Total Investments

100.00%

Bonds By Maturity

Portfolio %

Less than 1 year

0.87%

1 to 5 years

0.92%

5 to 10 years

8.26%

10 to 20 years

70.78%

20 to 30 years

19.17%

More than 30 years

0.00%

Other

0.00%

Total Investments

100.00%

Portfolio Statistics:

AMT Percentage:

8.15%

Average Coupon:

5.13%

Percentage of Leverage:

Bank Borrowing:

0.00%

Investment Operations:

0.58%

Auction Preferred Shares (APS):

14.79%

Tender Option Bonds:

5.06%

Variable Rate MuniFund Term Preferred Shares (VMTPs):

19.86%

Total Fund Leverage:

40.29%*

Average Effective Maturity:

6.21 Years

Effective Duration:

5.41 Years

Total Net Assets:

$164.10 Million**

Common Stock Net Asset Value:

$15.69

Number of Holdings:

76

Portfolio Turnover:

18%

 

 

* The total percentage of leverage constitutes 5.06% through the use

of tender option bonds, 14.79% in issued and outstanding APS,

19.86% in issued and outstanding VMTPs and 0.58% 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 APS 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.



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