Market Overview

Alliance California Municipal Income Fund Releases Monthly Portfolio Update

Share:

NEW YORK, Oct. 31, 2012 /PRNewswire/ -- Alliance California Municipal Income Fund, Inc. (NYSE: AKP) (the "Fund") today released its monthly portfolio update as of September 30, 2012.


Alliance California Municipal Income Fund, Inc.

 

Top 10 Fixed-Income Holdings



Portfolio %

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

4.37%

2)   San Francisco City/Cnty CA Pub Util Wtr Series 2012C

             5.00%,   11/01/26

4.32%

3)   Los Angeles Cnty CA Met Trnsp Auth (Los Angeles
             Cnty Ca Mta Sales Tax)   5.00%,   7/01/25

3.71%

4)   Los Angeles CA GO Series 2012A   5.00%,   9/01/23

3.44%

5)   California Pub Wks Brd (Univ Of California Lease)

             Series 2011A   5.25%,   12/01/26

3.41%

6)   Los Angeles CA Cmnty Redev Agy (Los Angeles Ca

             Cra Grand Ctrl) AMBAC Series 02   5.375%,   12/01/26

3.08%

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

3.02%

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

2.44%

9)   San Diego Cnty CA Regl Trnsp Commn Series 2012A

             5.00%,   4/01/28

2.42%

10) San Diego CA CCD GO   5.00%,   8/01/27

2.29%



Sector/Industry Breakdown



Portfolio %

Tax Supported


Special Tax

18.74%

Local G.O.

15.44%

Tax-Supported Local Lease

3.36%

State G.O.

2.09%

Assessment District

1.98%

Tax-Supported State Lease

1.70%

SUBTOTAL

43.31%

Revenue


Water & Sewer

13.18%

Electric Utility

5.60%

Port

5.09%

Higher Education - Public

4.53%

Revenue - Miscellaneous

3.96%

Health Care - Not-for-Profit

3.16%

Airport

2.55%

Higher Education - Private

2.32%

Primary/Secondary Ed. - Private

1.48%

Industrial Development - Utility

0.19%

SUBTOTAL

42.06%

Insured/Guaranteed


Insured

6.40%

SUBTOTAL

6.40%

Cash Equivalents


Investment Companies

3.01%

SUBTOTAL

3.01%

Asset-Backed


Housing - Multi-Family

2.69%

SUBTOTAL

2.69%

Prerefunded/ETM

2.53%

Total

100.00%



State Breakdown



Portfolio %

California

94.23%

Puerto Rico

1.54%

Nevada

1.03%

Ohio

0.19%

Other

3.01%

Total Investments

100.00%



Credit Quality Breakdown



Portfolio %

AAA

14.73%

AA

56.98%

A

16.68%

BBB

3.10%

Not Rated

2.97%

Pre-refunded Bonds

2.53%

Short Term Investments

3.01%

Total Investments

100.00%



Portfolio Statistics:


AMT Percentage:

14.05%

Average Coupon:

5.76%

Percentage of Leverage:


Bank Borrowing:

0.00%

Investment Operations:

0.83%

Preferred Stock:

36.00%

Tender Option Bonds:

4.19%

Term Asset-Backed Loans Facility (TALF):

0.00%

Total Fund Leverage:

41.02%*

Average Effective Maturity:

6.64 Years

Effective Duration:

5.87 Years

Total Net Assets:

$201.57 Million**

Common Stock Net Asset Value:

$15.09

Number of Holdings:

76

Portfolio Turnover:

14%



* The total percentage of leverage constitutes 4.19% through the use of tender option bonds, 36.00% in issued and outstanding preferred stock and 0.83% 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.

View Comments and Join the Discussion!