Alliance California Municipal Income Fund Releases Monthly Portfolio Update

Dec 28, 2010, 16:06 ET from Alliance California Municipal Income Fund, Inc.

NEW YORK, Dec. 28, 2010 /PRNewswire/ -- Alliance California Municipal Income Fund, Inc.(NYSE: AKP) (the "Fund") today released its monthly portfolio update as of November 30, 2010.

Alliance California Municipal Income Fund, Inc.

Top 10 Fixed-Income Holdings  

Portfolio %

1) Los Angeles CA USD GO     NPFGC Series 02E

5.35%

   5.125%, 1/01/27 (Prerefunded/ETM)

2) Los Angeles CA Dept W&P Pwr     NPFGC-RE Series

4.99%

   01A 5.125%, 7/01/41

3) California GO 5.25%, 4/01/30

4.68%

   (Prerefunded/ETM)

4) Los Angeles CA Wstwtr Sys 5.00%, 6/01/26

4.19%

5) Palo Alto CA Univ Ave AD Series 02A 5.875%,

3.87%

   9/02/30

6) Puerto Rico Hwy & Trnsp Auth Series 02D

3.45%

   5.375%, 7/01/36 (Prerefunded/ETM)

7) Los Angeles CA Cmnty Redev Agy  (Los Angeles CA

3.31%

   CRA Grand Ctrl) AMBAC Series 02 5.375%,

   12/01/26

8) Los Angeles CA Harbor Dept 5.00%, 8/01/26

2.90%

9) California Infra & Eco Dev Bk  (YMCA of Metro

2.89%

   Los Angeles) AMBAC Series 01 5.25%, 2/01/32

10) Temecula CA Redev Agy     NPFGC Series 02 5.25%,

2.83%

     8/01/36

Sector/Industry Breakdown

Portfolio %

Prerefunded/ETM

19.10%

Special Tax

13.39%

Water & Sewer

10.11%

Insured

8.09%

Health Care - Not-for-Profit

7.85%

Revenue - Miscellaneous

5.61%

Assessment District

5.33%

Port

5.12%

Tax-Supported Local Lease

3.90%

Local G.O.

3.46%

Airport

3.32%

Housing - Multi-Family

2.90%

Electric Utility

2.73%

State G.O.

2.20%

Toll Roads/Transit

2.16%

Higher Education - Private

1.72%

Tax-Supported State Lease

1.59%

Primary/Secondary Ed. - Private

1.21%

Industrial Development - Utility

0.21%

Total

100.00%

State Breakdown

Portfolio %

California

91.57%

Puerto Rico

7.13%

Nevada

1.09%

Ohio

0.21%

Total Investments

100.00%

    Credit Quality Breakdown

Portfolio %

    AAA

9.34%

    AAA(Pre-refunded Bonds)

19.11%

    AA

33.19%

    A

28.07%

    BBB

7.55%

    Not Rated

2.74%

    Total Investments

100.00%

Portfolio Statistics:

AMT Percentage:

12.56%

Average Coupon:

5.45%

Percentage of Leverage:

    Bank Borrowing:

0.00%

    Investment Operations:

1.19%

    Preferred Stock:

37.67%

    Tender Option Bonds:

4.39%

    Term Asset-Backed Loans Facility (TALF):

0.00%

    Total Fund Leverage:

43.25%*

Average Maturity:

9.49 Years

Effective Duration:

6.62 Years

Total Net Assets:

$192.58 Million**

Common Stock Net Asset Value:

$14.06

Number of Holdings:

75

The total percentage of leverage constitutes 4.39% through the use of tender option bonds, 37.67% in issued and outstanding preferred stock and 1.19% 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.



RELATED LINKS

http://www.alliancebernstein.com