Alliance California Municipal Income Fund Releases Monthly Portfolio Update
NEW YORK, Dec. 21, 2015 /PRNewswire/ -- Alliance California Municipal Income Fund, Inc. (AKP) (the "Fund") is rereleasing its monthly portfolio update as of October 31, 2015, previously released on November 23, 2015, to revise certain information relating to its leverage levels. The revised information may be found below under the heading "Percentage of Leverage."
Alliance California Municipal Income Fund, Inc. |
|
Top 10 Fixed-Income Holdings |
Portfolio % |
1) University of California Series 2012G 5.00%, 5/15/31 |
4.49% |
2) Los Angeles County Metropolitan Transportation Authority (Los Angeles County Metropolitan Transportation Authority Sales Tax) Series 2009 5.00%, 7/01/25 |
3.71% |
3) California State Public Works Board Series 2011G 5.25%, 12/01/26 (Prerefunded/ETM) |
3.56% |
4) Los Angeles Department of Water & Power WTR Series 2013B 5.00%, 7/01/32 |
3.47% |
5) Los Angeles Community Redevelopment Agency (Los Angeles Community Redevelopment Agency Sales Tax) AMBAC Series 2002A 5.375%, 12/01/26 |
3.22% |
6) Port of Los Angeles Series 2009C 5.00%, 8/01/26 |
3.05% |
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 |
2.71% |
9) Metropolitan Transportation Authority Series 2014C 5.00%, 11/15/32 |
2.62% |
10) City of San Francisco CA Public Utilities Commission Wastewater Revenue Series 2013B 5.00%, 10/01/32 |
2.60% |
Sector/Industry Breakdown |
Portfolio % |
Revenue |
|
Revenue - Miscellaneous |
9.71% |
Water & Sewer |
9.30% |
Toll Roads/Transit |
8.75% |
Higher Education - Public |
4.49% |
Electric Utility |
4.48% |
Health Care - Not-for-Profit |
3.61% |
Port |
3.05% |
Higher Education - Private |
2.22% |
Airport |
1.74% |
Primary/Secondary Ed. - Public |
1.62% |
Senior Living |
1.62% |
Primary/Secondary Ed. - Private |
1.39% |
Industrial Development - Utility |
0.11% |
SUBTOTAL |
52.09% |
Tax Supported |
|
Special Tax |
15.68% |
Local G.O. |
11.56% |
Tax-Supported Local Lease |
5.19% |
Assessment District |
2.31% |
State G.O. |
1.13% |
SUBTOTAL |
35.87% |
Prerefunded/ETM |
6.13% |
Insured/Guaranteed |
|
Insured |
3.22% |
SUBTOTAL |
3.22% |
Asset-Backed |
|
Housing - Multi-Family |
2.69% |
SUBTOTAL |
2.69% |
Total |
100.00% |
State Breakdown |
Portfolio % |
California |
90.26% |
New York |
2.62% |
Florida |
1.43% |
New Jersey |
1.42% |
Guam |
1.04% |
Nevada |
0.96% |
Minnesota |
0.60% |
Indiana |
0.53% |
Pennsylvania |
0.52% |
Missouri |
0.51% |
Ohio |
0.11% |
Total Investments |
100.00% |
Credit Quality Breakdown |
Portfolio % |
AAA |
10.28% |
AA |
58.76% |
A |
11.70% |
BBB |
9.89% |
B |
1.36% |
Not Rated |
1.88% |
Pre-refunded Bonds |
6.13% |
Total Investments |
100.00% |
Bonds By Maturity |
Portfolio % |
Less than 1 year |
0.00% |
1 to 5 years |
0.96% |
5 to 10 years |
8.80% |
10 to 20 years |
72.55% |
20 to 30 years |
17.69% |
More than 30 years |
0.00% |
Other |
0.00% |
Total Investments |
100.00% |
Portfolio Statistics: |
|
AMT Percentage: |
8.80% |
Average Coupon: |
5.32% |
Percentage of Leverage: |
|
Bank Borrowing: |
0.00% |
Investment Operations: |
0.62% |
Auction Preferred Shares (APS): |
15.22% |
Tender Option Bonds: |
4.33% |
Variable Rate MuniFund Term Preferred Shares (VMTPs): |
20.44% |
Total Fund Leverage: |
40.61%* |
Average Effective Maturity: |
6.29 Years |
Effective Duration: |
5.56 Years |
Total Net Assets: |
$159.49 Million** |
Common Stock Net Asset Value: |
$15.15 |
Number of Holdings: |
73 |
Portfolio Turnover: |
32% |
* The total percentage of leverage constitutes 4.33% through the use |
|
of tender option bonds, 15.22% in issued and outstanding APS, |
|
20.44% in issued and outstanding VMTPs and 0.62% 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.
Related Links
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article