Alliance California Municipal Income Fund Releases Monthly Portfolio Update
NEW YORK, Oct. 24, 2016 /PRNewswire/ -- Alliance California Municipal Income Fund, Inc. (NYSE: AKP) (the "Fund") today released its monthly portfolio update as of September 30, 2016.
| Alliance California Municipal Income Fund, Inc. |
||
| Top 10 Fixed-Income Holdings |
Portfolio % |
|
| 1) University of California Series 2012G 5.00%, 5/15/31 |
4.46% |
|
| 2) Los Angeles Department of Water & Power WTR Series 2013B 5.00%, 7/01/32 |
3.52% |
|
| 3) Los Angeles County Metropolitan Transportation Authority (Los Angeles County Metropolitan Transportation Authority Sales Tax) Series 2009 5.00%, 7/01/25 |
3.45% |
|
| 4) Los Angeles Community Redevelopment Agency (Los Angeles Community Redevelopment Agency Sales Tax) AMBAC Series 2002A 5.375%, 12/01/26 |
3.09% |
|
| 5) San Diego Unified School District/CA Series 2013C 5.00%, 7/01/32 |
2.89% |
|
| 6) San Diego Public Facilities Financing Authority 5.00%, 5/15/36 |
2.87% |
|
| 7) Port of Los Angeles Series 2009C 5.00%, 8/01/26 |
2.86% |
|
| 8) Bay Area Toll Authority Series 2013S 5.00%, 4/01/33 |
2.80% |
|
| 9) Metropolitan Transportation Authority Series 2014C 5.00%, 11/15/32 |
2.69% |
|
| 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 |
9.69% |
|
| Water & Sewer |
9.35% |
|
| Toll Roads/Transit |
7.58% |
|
| Electric Utility |
4.93% |
|
| Higher Education - Public |
4.46% |
|
| Health Care - Not-for-Profit |
3.13% |
|
| Port |
2.86% |
|
| Primary/Secondary Ed. - Public |
2.59% |
|
| Higher Education - Private |
1.65% |
|
| Senior Living |
1.65% |
|
| Airport |
1.64% |
|
| Primary/Secondary Ed. - Private |
1.43% |
|
| SUBTOTAL |
50.96% |
|
| Tax Supported |
||
| Special Tax |
14.42% |
|
| Local G.O. |
13.60% |
|
| Tax-Supported Local Lease |
8.11% |
|
| Assessment District |
3.11% |
|
| State G.O. |
1.14% |
|
| SUBTOTAL |
40.38% |
|
| Prerefunded/ETM |
5.42% |
|
| Asset-Backed |
||
| Housing - Multi-Family |
2.54% |
|
| SUBTOTAL |
2.54% |
|
| Cash Equivalents |
||
| Investment Companies |
0.70% |
|
| SUBTOTAL |
0.70% |
|
| Total |
100.00% |
|
| State Breakdown |
Portfolio % |
|
| California |
91.02% |
|
| New York |
2.69% |
|
| Florida |
2.01% |
|
| Guam |
1.04% |
|
| Nevada |
0.85% |
|
| Minnesota |
0.61% |
|
| Pennsylvania |
0.54% |
|
| Missouri |
0.53% |
|
| Ohio |
0.01% |
|
| Other |
0.70% |
|
| Total Investments |
100.00% |
|
| Credit Quality Breakdown |
Portfolio % |
|
| AAA |
12.24% |
|
| AA |
57.61% |
|
| A |
10.51% |
|
| BBB |
10.45% |
|
| B |
1.27% |
|
| Not Rated |
1.80% |
|
| Pre-refunded Bonds |
5.42% |
|
| Short Term Investments |
0.70% |
|
| Total Investments |
100.00% |
|
| Bonds By Maturity |
Portfolio % |
|
| Less than 1 year |
0.70% |
|
| 1 to 5 years |
2.10% |
|
| 5 to 10 years |
6.96% |
|
| 10 to 20 years |
72.29% |
|
| 20 to 30 years |
17.95% |
|
| More than 30 years |
0.00% |
|
| Other |
0.00% |
|
| Total Investments |
100.00% |
|
| Portfolio Statistics: |
||
| AMT Percentage: |
8.57% |
|
| Average Coupon: |
5.24% |
|
| Percentage of Leverage: |
||
| Bank Borrowing: |
0.00% |
|
| Investment Operations: |
1.21% |
|
| Auction Preferred Shares (APS): |
14.56% |
|
| Tender Option Bonds: |
3.90% |
|
| Variable Rate MuniFund Term Preferred Shares (VMTPs): |
19.56% |
|
| Total Fund Leverage: |
39.23%* |
|
| Average Effective Maturity: |
6.53 Years |
|
| Effective Duration: |
5.13 Years |
|
| Total Net Assets: |
$167.69 Million** |
|
| Common Stock Net Asset Value: |
$16.11 |
|
| Number of Holdings: |
75 |
|
| Portfolio Turnover: |
18% |
|
* The total percentage of leverage constitutes 3.90% through the use of tender option bonds, 14.56% in issued and outstanding APS, 19.56% in issued and outstanding VMTPs and 1.21% 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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