Market Overview

Alliance California Municipal Income Fund Releases Monthly Portfolio Update

NEW YORK, Feb. 26, 2013 /PRNewswire/ -- Alliance California Municipal Income Fund, Inc. (NYSE: AKP) (the "Fund") today released its monthly portfolio update as of January 31, 2013.





Alliance California Municipal Income Fund, Inc.





Top 10 Fixed-Income Holdings 





Portfolio %



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

4.55%



2)   San Francisco City/Cnty CA Pub Util Wtr Series 2012C   5.00%,   11/01/26

4.46%



3)   Los Angeles Cnty CA Met Trnsp Auth (Los Angeles Cnty Ca Mta Sales Tax)  

      5.00%,   7/01/25

3.78%



4)   California Pub Wks Brd (Univ Of California Lease) Series 2011A   5.25%,   2/01/26

3.56%



5)   Los Angeles CA Cmnty Redev Agy (Los Angeles Ca Cra Grand Ctrl) AMBAC

      Series 02   5.375%,   12/01/26

3.17%



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

3.15%



7)   Puerto Rico Sales Tax Fin Corp. Series 2011A   5.00%,   8/01/43

2.98%



8)   Port of Oakland CA Series 2012P   5.00%,   5/01/29

2.88%



9)   Clovis CA USD GO Series 2012A   5.00%,   8/01/28

2.50%



10) San Diego Cnty CA Regl Trnsp Commn Series 2012A   5.00%,   4/01/28

2.48%







Sector/Industry Breakdown





Portfolio %



Revenue




Water & Sewer

15.36%



Electric Utility

7.96%



Port

6.02%



Revenue - Miscellaneous

5.78%



Higher Education - Public

3.56%



Airport

2.58%



Higher Education - Private

2.40%



Primary/Secondary Ed. - Private

1.51%



Health Care - Not-for-Profit

1.35%



Industrial Development - Utility

0.19%



SUBTOTAL

46.71%



Tax Supported




Special Tax

22.19%



Local G.O.

10.10%



Tax-Supported Local Lease

3.44%



State G.O.

2.11%



Assessment District

2.02%



Tax-Supported State Lease

1.77%



SUBTOTAL

41.63%



Insured/Guaranteed




Insured

6.60%



SUBTOTAL

6.60%



Asset-Backed




Housing - Multi-Family

2.75%



SUBTOTAL

2.75%



Prerefunded/ETM

2.31%



Total

100.00%







State Breakdown





Portfolio %



California

93.19%



Puerto Rico

4.53%



Nevada

1.05%



Guam

1.04%



Ohio

0.19%



Total Investments

100.00%







Credit Quality Breakdown





Portfolio %



AAA

15.11%



AA

51.95%



A

20.21%



BBB

5.92%



BB

1.45%



Not Rated

3.05%



Pre-refunded Bonds

2.31%



Total Investments

100.00%







Bonds By Maturity





Portfolio %



Less than 1 year

1.80%



1 to 5 years

0.76%



5 to 10 years

8.15%



10 to 20 years

77.38%



20 to 30 years

8.78%



More than 30 years

3.13%



Other

0.00%



Total Investments

100.00%







Portfolio Statistics:




AMT Percentage:

13.54%



Average Coupon:

0.00%



Percentage of Leverage:




Bank Borrowing:

0.00%



Investment Operations:

0.89%



Preferred Stock:

35.96%



Tender Option Bonds:

4.19%



Term Asset-Backed Loans Facility (TALF):

0.00%



Total Fund Leverage:

41.04%*



Average Effective Maturity:

6.19 Years



Effective Duration:

5.51 Years



Total Net Assets:

$201.77 Million**



Common Stock Net Asset Value:

$15.11



Number of Holdings:

78



Portfolio Turnover:

46%







* The total percentage of leverage constitutes 4.19% through the use of tender option bonds, 35.96% in issued

  and outstanding preferred stock and 0.89% 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.

 

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