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Alliance California Municipal Income Fund Releases Monthly Portfolio Update

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Alliance California Municipal Income Fund Releases Monthly Portfolio Update

PR Newswire

NEW YORK, July 23, 2018 /PRNewswire/ -- Alliance California Municipal Income Fund, Inc. (NYSE:AKP) (the "Fund") today released its monthly portfolio update as of June 30, 2018.

 

Alliance California Municipal Income Fund, Inc.








Top 10 Fixed-Income Holdings


Portfolio %

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

3.46%

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 Public Facilities Financing Authority      5.00%, 5/15/36

2.88%

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

2.86%

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

2.84%

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

2.83%

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

2.60%

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

2.39%

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

2.38%

10) California Statewide Communities Development Authority(Buck Institute for Research on Aging)  AGM  Series 2014  5.00%, 11/15/44

2.18%




Sector/Industry Breakdown


Portfolio %

Revenue



Health Care - Not-for-Profit


10.21%

Revenue - Miscellaneous


8.55%

Water & Sewer


8.45%

Electric Utility


4.38%

Primary/Secondary Ed. - Public


4.18%

Toll Roads/Transit


3.79%

Port


3.72%

Airport


3.02%

Tobacco Securitization


2.48%

Higher Education - Public


2.39%

Higher Education - Private


1.64%

Senior Living


1.64%

Primary/Secondary Ed. - Private


1.40%

SUBTOTAL


55.85%

Tax Supported



Local G.O.


9.96%

Special Tax


9.31%

Tax-Supported Local Lease


8.00%

Assessment District


3.56%

State G.O.


1.12%

SUBTOTAL


31.95%

Prerefunded/ETM


10.02%

Asset-Backed



Housing - Multi-Family


1.28%

SUBTOTAL


1.28%

Cash Equivalents



Investment Companies


0.90%

SUBTOTAL


0.90%

Total


100.00%




State Breakdown


Portfolio %

California


90.99%

New York


1.70%

Guam


1.45%

Florida


1.44%

New Jersey


1.28%

Minnesota


0.62%

Illinois


0.55%

Pennsylvania


0.54%

Missouri


0.53%

Other


0.90%

Total Investments


100.00%




Credit Quality Breakdown


Portfolio %

AAA


10.34%

AA


46.10%

A


11.98%

BBB


15.88%

BB


0.85%

B


1.28%

Not Rated


2.65%

Pre-refunded Bonds


10.02%

Short-Term Investments


0.90%

Total Investments


100.00%




Bonds By Maturity


Portfolio %

Less than 1 year


0.90%

1 to 5 years


0.00%

5 to 10 years


13.34%

10 to 20 years


62.22%

20 to 30 years


23.54%

More Than 30 years


0.00%

Other


0.00%

Total Investments


100.00%




Portfolio Statistics:



AMT Percent:


3.31%

Average Coupon:


5.12%

Percentage of Leverage:



Bank Borrowing:


0.00%

Investment Operations:


0.00%

Auction Preferred Shares (APS):


15.36%

Tender Option Bonds:


4.10%

Variable Rate MuniFund Term Preferred Shares (VMTPs):

20.63%

Total Fund Leverage:


40.09%*

Average Effective Maturity:


5.22  Years

Effective Duration:


4.65  Years

Total Net Assets:


$157.08 Million**

Common Stock Net Asset Value:


$14.87

Number of Holdings:


86

Portfolio Turnover:


18%

 

* The total percentage of leverage constitutes 4.10% through the use of tender option bonds, 15.36% in issued and outstanding APS,20.63%  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.


** 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-300684987.html

SOURCE Alliance California Municipal Income Fund, Inc.

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