Market Overview

Bulldog Investors Announces Results of Special Meeting of Stockholders of Alliance California Municipal Income Fund


Bulldog Investors, LLC ("Bulldog") today announced that the special
meeting of stockholders of Alliance California Municipal Income Fund,
Inc. (NYSE:AKP) (the "Fund") which was initially convened on October
11, 2018 and adjourned until November 14, 2018, was further adjourned
over Bulldog's objection until December 11, 2018. On each of the
previous occasions, a quorum was present and the proposal to enter into
a new investment advisory agreement with AllianceBernstein L.P. was not

Phillip Goldstein, a managing member of Bulldog, commented:
"Unfortunately, management seems not to understand that it has a
fiduciary duty to abide by the outcome of a stockholder vote even if it
does not like it."

About Bulldog Investors

Bulldog Investors is an SEC-registered investment adviser that manages
the Bulldog Investors group of private funds, Special Opportunities
Fund, Inc. (NYSE:SPE), a registered closed-end investment company, and
separately managed accounts. Bulldog holds approximately 12.4% of the
outstanding common stock of the Fund.

View Comments and Join the Discussion!