Alliance California Municipal Income Fund Releases Monthly Portfolio Update

Alliance California Municipal Income Fund Releases Monthly Portfolio Update

PR Newswire

NEW YORK, March 26, 2018 /PRNewswire/ -- Alliance California Municipal Income Fund, Inc. AKP (the "Fund") today released its monthly portfolio update as of February 28, 2018.

Alliance California Municipal Income Fund, Inc.











Top 10 Fixed-Income Holdings



Portfolio %

1) Los Angeles Department of Water & Power WTR    Series 2013B  5.00%, 7/01/32

3.44%

2) Los Angeles County Metropolitan Transportation Authority  (Los Angeles County Metropolitan Transportation Authority Sales Tax)  Series 2009  5.00%, 7/01/25

3.43%

3) San Diego Unified School District/CA    Series 2013C  5.00%, 7/01/32

2.85%

4) Port of Los Angeles    Series 2009C  5.00%, 8/01/26

2.84%

5) San Diego Public Facilities Financing Authority      5.00%, 5/15/36

2.82%

6) Bay Area Toll Authority    Series 2013S  5.00%, 4/01/33 (Prerefunded/ETM)

2.81%

7) Metropolitan Transportation Authority    Series 2014C  5.00%, 11/15/32

2.64%

8) City of San Francisco CA Public Utilities Commission Wastewater Revenue    Series 2013B  5.00%, 10/01/32

2.60%

9) San Diego County Water Authority Financing Corp.    Series 2013  5.00%, 5/01/31

2.38%

10) University of California    Series 2012G  5.00%, 5/15/31

2.37%







Sector/Industry Breakdown



Portfolio %

Revenue





Health Care - Not-for-Profit



9.22%

Water & Sewer



9.20%

Revenue - Miscellaneous



8.51%

Toll Roads/Transit



4.71%

Electric Utility



4.37%

Port



3.71%

Primary/Secondary Ed. - Public



3.55%

Airport



3.00%

Higher Education - Public



2.37%

Senior Living



1.63%

Higher Education - Private



1.62%

Primary/Secondary Ed. - Private



1.40%

SUBTOTAL



53.29%

Tax Supported





Special Tax



11.35%

Local G.O.



9.38%

Tax-Supported Local Lease



9.14%

Assessment District



4.06%

State G.O.



2.79%

SUBTOTAL



36.72%

Prerefunded/ETM



8.71%

Asset-Backed





Housing - Multi-Family



1.28%

SUBTOTAL



1.28%

Total



100.00%







State Breakdown



Portfolio %

California



92.31%

New York



2.64%

Guam



1.43%

Florida



1.42%

Minnesota



0.61%

New Jersey



0.54%

Pennsylvania



0.53%

Missouri



0.52%

Total Investments



100.00%







Credit Quality Breakdown



Portfolio %

AAA



10.30%

AA



51.49%

A



11.48%

BBB



14.09%

B



1.28%

Not Rated



2.65%

Pre-refunded Bonds



8.71%

Total Investments



100.00%







Bonds By Maturity



Portfolio %

Less than 1 year



0.00%

1 to 5 years



0.00%

5 to 10 years



12.62%

10 to 20 years



66.26%

20 to 30 years



21.12%

More Than 30 years



0.00%

Other



0.00%

Total Investments



100.00%







Portfolio Statistics:





AMT Percent:



3.33%

Average Coupon:



5.36%

Percentage of Leverage:





Bank Borrowing:



0.00%

Investment Operations:



0.60%

Auction Preferred Shares (APS):



15.38%

Tender Option Bonds:



4.11%

Variable Rate MuniFund Term Preferred Shares (VMTPs):

20.66%

Total Fund Leverage:



40.75%*

Average Effective Maturity:



5.73  Years

Effective Duration:



5.07  Years

Total Net Assets:



$157.14 Million**

Common Stock Net Asset Value:



$14.88

Number of Holdings:



87

Portfolio Turnover:



18%







* The total percentage of leverage constitutes 4.11% through the use of tender option bonds, 15.38% in issued and outstanding APS,20.66%  in issued and outstanding VMTPs and 0.600% 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.

 

 

Cision View original content:http://www.prnewswire.com/news-releases/alliance-california-municipal-income-fund-releases-monthly-portfolio-update-300619594.html

SOURCE Alliance California Municipal Income Fund, Inc.

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