Alliance California Municipal Income Fund Releases Monthly Portfolio Update
NEW YORK, July 24, 2017 /PRNewswire/ -- Alliance California Municipal Income Fund, Inc. (NYSE: AKP) (the "Fund") today released its monthly portfolio update as of June 30, 2017.
Alliance California Municipal Income Fund, Inc. |
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Top 10 Fixed-Income Holdings |
Portfolio % |
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1) University of California Series 2012G 5.00%, 5/15/31 |
4.44% |
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2) Los Angeles Department of Water & Power WTR Series 2013B 5.00%, 7/01/32 |
3.49% |
|
3) Los Angeles County Metropolitan Transportation Authority (Los Angeles County Metropolitan Transportation Authority Sales Tax) Series 2009 5.00%, 7/01/25 |
3.48% |
|
4) San Diego Unified School District/CA Series 2013C 5.00%, 7/01/32 |
2.90% |
|
5) Port of Los Angeles Series 2009C 5.00%, 8/01/26 |
2.89% |
|
6) San Diego Public Facilities Financing Authority 5.00%, 5/15/36 |
2.83% |
|
7) Bay Area Toll Authority Series 2013S 5.00%, 4/01/33 |
2.75% |
|
8) Metropolitan Transportation Authority Series 2014C 5.00%, 11/15/32 |
2.64% |
|
9) City of San Francisco CA Public Utilities Commission Wastewater Revenue Series 2013B 5.00%, 10/01/32 |
2.63% |
|
10) San Diego County Water Authority Financing Corp. Series 2013 5.00%, 5/01/31 |
2.42% |
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Sector/Industry Breakdown |
Portfolio % |
|
Revenue |
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Water & Sewer |
9.32% |
|
Revenue - Miscellaneous |
8.58% |
|
Health Care - Not-for-Profit |
8.48% |
|
Toll Roads/Transit |
7.47% |
|
Higher Education - Public |
4.44% |
|
Electric Utility |
4.40% |
|
Airport |
3.04% |
|
Port |
2.89% |
|
Primary/Secondary Ed. - Public |
2.56% |
|
Senior Living |
1.64% |
|
Higher Education - Private |
1.60% |
|
Primary/Secondary Ed. - Private |
1.42% |
|
SUBTOTAL |
55.84% |
|
Tax Supported |
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Special Tax |
11.06% |
|
Local G.O. |
9.53% |
|
Tax-Supported Local Lease |
9.19% |
|
Assessment District |
5.34% |
|
State G.O. |
2.82% |
|
SUBTOTAL |
37.94% |
|
Prerefunded/ETM |
4.48% |
|
Asset-Backed |
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Housing - Multi-Family |
1.25% |
|
SUBTOTAL |
1.25% |
|
Cash Equivalents |
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Investment Companies |
0.49% |
|
SUBTOTAL |
0.49% |
|
Total |
100.00% |
|
State Breakdown |
Portfolio % |
|
California |
91.38% |
|
New York |
2.64% |
|
Florida |
1.44% |
|
Guam |
1.00% |
|
Nevada |
0.84% |
|
Minnesota |
0.61% |
|
Pennsylvania |
0.54% |
|
Missouri |
0.53% |
|
New Jersey |
0.52% |
|
Ohio |
0.01% |
|
Other |
0.49% |
|
Total Investments |
100.00% |
|
Credit Quality Breakdown |
Portfolio % |
|
AAA |
10.47% |
|
AA |
57.99% |
|
A |
10.53% |
|
BBB |
11.79% |
|
B |
1.25% |
|
Not Rated |
3.00% |
|
Pre-refunded Bonds |
4.48% |
|
Short-Term Investments |
0.49% |
|
Total Investments |
100.00% |
|
Bonds By Maturity |
Portfolio % |
|
Less than 1 year |
1.33% |
|
1 to 5 years |
0.28% |
|
5 to 10 years |
9.88% |
|
10 to 20 years |
69.46% |
|
20 to 30 years |
17.41% |
|
More Than 30 years |
1.64% |
|
Other |
0.00% |
|
Total Investments |
100.00% |
|
Portfolio Statistics: |
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AMT Percent: |
4.41% |
|
Average Coupon: |
5.22% |
|
Percentage of Leverage: |
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Bank Borrowing: |
0.00% |
|
Investment Operations: |
0.71% |
|
Auction Preferred Shares (APS): |
15.10% |
|
Tender Option Bonds: |
4.04% |
|
Variable Rate MuniFund Term Preferred Shares (VMTPs): |
20.28% |
|
Total Fund Leverage: |
40.13%* |
|
Average Effective Maturity: |
6.81 Years |
|
Effective Duration: |
5.32 Years |
|
Total Net Assets: |
$160.40 Million** |
|
Common Stock Net Asset Value: |
$15.26 |
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Number of Holdings: |
86 |
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Portfolio Turnover: |
12% |
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* The total percentage of leverage constitutes 4.04% through the use of tender option bonds, 15.10% in issued and outstanding APS, 20.28% in issued and outstanding VMTPs and 0.710% 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. |
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** 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. |
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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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