Alliance California Municipal Income Fund Releases Monthly Portfolio Update
NEW YORK, Jan. 22, 2018 /PRNewswire/ -- Alliance California Municipal Income Fund, Inc. (NYSE: AKP) (the "Fund") today released its monthly portfolio update as of December 31, 2017.
Alliance California Municipal Income Fund, Inc. |
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Top 10 Fixed-Income Holdings |
Portfolio % |
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1) Los Angeles Department of Water & Power WTR Series 2013B 5.00%, 7/01/32 |
3.48% |
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2) Los Angeles County Metropolitan Transportation Authority (Los Angeles County |
3.41% |
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3) San Diego Unified School District/CA Series 2013C 5.00%, 7/01/32 |
2.87% |
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4) San Diego Public Facilities Financing Authority 5.00%, 5/15/36 |
2.86% |
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5) Port of Los Angeles Series 2009C 5.00%, 8/01/26 |
2.83% |
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6) Bay Area Toll Authority Series 2013S 5.00%, 4/01/33 (Prerefunded/ETM) |
2.82% |
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7) Metropolitan Transportation Authority Series 2014C 5.00%, 11/15/32 |
2.69% |
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8) City of San Francisco CA Public Utilities Commission Wastewater Revenue Series 2013B 5.00%, 10/01/32 |
2.60% |
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9) San Diego County Water Authority Financing Corp. Series 2013 5.00%, 5/01/31 |
2.39% |
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10) University of California 5.00%, 5/15/31 |
2.39% |
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Sector/Industry Breakdown |
Portfolio % |
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Revenue |
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Water & Sewer |
9.28% |
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Health Care - Not-for-Profit |
8.76% |
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Revenue - Miscellaneous |
8.61% |
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Toll Roads/Transit |
4.82% |
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Electric Utility |
4.40% |
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Higher Education - Public |
4.38% |
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Port |
3.73% |
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Primary/Secondary Ed. - Public |
3.26% |
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Airport |
3.04% |
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Senior Living |
1.66% |
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Higher Education - Private |
1.65% |
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Primary/Secondary Ed. - Private |
1.41% |
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SUBTOTAL |
55.00% |
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Tax Supported |
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Special Tax |
12.61% |
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Local G.O. |
9.44% |
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Tax-Supported Local Lease |
9.26% |
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Assessment District |
4.15% |
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State G.O. |
2.86% |
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SUBTOTAL |
38.32% |
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Prerefunded/ETM |
5.25% |
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Asset-Backed |
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Housing - Multi-Family |
1.27% |
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SUBTOTAL |
1.27% |
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Cash Equivalents |
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Investment Companies |
0.16% |
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SUBTOTAL |
0.16% |
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Total |
100.00% |
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State Breakdown |
Portfolio % |
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California |
92.40% |
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New York |
2.69% |
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Florida |
1.46% |
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Guam |
1.04% |
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Minnesota |
0.62% |
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New Jersey |
0.55% |
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Pennsylvania |
0.55% |
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Missouri |
0.53% |
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Other |
0.16% |
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Total Investments |
100.00% |
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Credit Quality Breakdown |
Portfolio % |
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AAA |
10.33% |
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AA |
54.38% |
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A |
10.27% |
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BBB |
13.67% |
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B |
1.27% |
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Not Rated |
4.67% |
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Pre-refunded Bonds |
5.25% |
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Short-Term Investments |
0.16% |
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Total Investments |
100.00% |
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Bonds By Maturity |
Portfolio % |
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Less than 1 year |
0.16% |
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1 to 5 years |
0.00% |
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5 to 10 years |
12.58% |
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10 to 20 years |
67.86% |
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20 to 30 years |
19.40% |
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More Than 30 years |
0.00% |
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Other |
0.00% |
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Total Investments |
100.00% |
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Portfolio Statistics: |
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AMT Percent: |
3.34% |
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Average Coupon: |
5.13% |
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Percentage of Leverage: |
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Bank Borrowing: |
0.00% |
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Investment Operations: |
0.00% |
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Auction Preferred Shares (APS): |
15.05% |
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Tender Option Bonds: |
4.02% |
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Variable Rate MuniFund Term Preferred Shares (VMTPs): |
20.22% |
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Total Fund Leverage: |
39.29%* |
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Average Effective Maturity: |
5.81 Years |
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Effective Duration: |
5.16 Years |
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Total Net Assets: |
$161.07 Million** |
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Common Stock Net Asset Value: |
$15.34 |
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Number of Holdings: |
86 |
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Portfolio Turnover: |
18% |
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* The total percentage of leverage constitutes 4.02% through the use of tender option bonds, 15.05% in issued and outstanding APS,20.22% in issued and outstanding VMTPs and 0.00% 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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