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Alliance California Municipal Income Fund Releases Monthly Portfolio Update
NEW YORK, June 26, 2012 /PRNewswire/ -- Alliance California Municipal Income Fund, Inc. (NYSE: AKP) (the "Fund") today released its monthly portfolio update as of May 31, 2012.
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Alliance California Municipal Income Fund, Inc. |
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Top 10 Fixed-Income Holdings |
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Portfolio % | ||
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1) Los Angeles CA USD GO NPFGC Series 02E 5.125%, 1/01/27 (Prerefunded/ETM) |
4.39% | |
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2) Los Angeles CA Wstwtr Sys 5.00%, 6/01/26 |
4.03% | |
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3) San Francisco CA Pub Util Wtr Series 2012C 5.00%, 11/01/26 |
3.93% | |
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4) Los Angeles Cnty CA Met Trnsp Auth (Los Angeles Cnty CA Mta Sales Tax) 5.00%, 7/01/25 |
3.48% | |
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5) Los Angeles CA GO Series 2012A 5.00%, 9/01/23 |
3.18% | |
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6) California Pub Wks Brd (Univ of California Lease) Series 2011A 5.25%, 12/01/26 |
3.11% | |
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7) Los Angeles CA Cmnty Redev Agy (Los Angeles CA Cra Grand Ctrl) AMBAC Series 02 5.375%, 12/01/26 |
2.90% | |
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8) Los Angeles CA Harbor Dept 5.00%, 8/01/26 |
2.84% | |
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9) Puerto Rico Hwy & Trnsp Auth Series 02D 5.375%, 7/01/36 (Prerefunded/ETM) |
2.83% | |
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10) San Diego Cnty CA Regl Trnsp Commn Series 2012A 5.00%, 4/01/28 |
2.22% | |
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Sector/Industry Breakdown | ||
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Portfolio % | ||
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Revenue |
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Water & Sewer |
15.69% | |
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Electric Utility |
5.22% | |
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Port |
4.81% | |
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Revenue - Miscellaneous |
3.71% | |
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Higher Education - Public |
3.11% | |
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Health Care - Not-for-Profit |
2.99% | |
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Higher Education - Private |
2.58% | |
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Airport |
2.34% | |
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Primary/Secondary Ed. - Private |
1.38% | |
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Industrial Development - Utility |
0.18% | |
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SUBTOTAL |
42.01% | |
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Tax Supported |
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Special Tax |
13.85% | |
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Local G.O. |
12.02% | |
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Tax-Supported Local Lease |
3.94% | |
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Assessment District |
2.30% | |
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State G.O. |
2.00% | |
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Tax-Supported State Lease |
1.58% | |
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SUBTOTAL |
35.69% | |
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Prerefunded/ETM |
11.32% | |
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Insured/Guaranteed |
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Insured |
6.04% | |
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SUBTOTAL |
6.04% | |
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Asset-Backed |
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Housing - Multi-Family |
2.53% | |
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SUBTOTAL |
2.53% | |
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Cash Equivalents |
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Investment Companies |
2.41% | |
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SUBTOTAL |
2.41% | |
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Total |
100.00% | |
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State Breakdown |
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Portfolio % | |
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California |
90.47% |
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Puerto Rico |
5.98% |
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Nevada |
0.96% |
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Ohio |
0.18% |
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Other |
2.41% |
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Total Investments |
100.00% |
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Credit Quality Breakdown |
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Portfolio % | |
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AAA |
16.19% |
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AA |
49.49% |
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A |
14.44% |
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BBB |
3.36% |
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Not Rated |
2.79% |
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Pre-refunded Bonds |
11.32% |
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Short Term Investments |
2.41% |
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Total Investments |
100.00% |
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Portfolio Statistics: |
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AMT Percentage: |
13.86% |
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Average Coupon: |
5.89 |
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Percentage of Leverage: |
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Bank Borrowing: |
0.00% |
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Investment Operations: |
9.39% |
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Preferred Stock: |
36.42% |
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Tender Option Bonds: |
4.24% |
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Term Asset-Backed Loans Facility (TALF): |
0.00% |
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Total Fund Leverage: |
50.05%* |
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Average Effective Maturity: |
5.96 Years |
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Effective Duration: |
5.20 Years |
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Total Net Assets: |
$199.21 Million** |
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Common Stock Net Asset Value: |
$14.83 |
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Number of Holdings: |
82 |
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Portfolio Turnover: |
14 |
* The total percentage of leverage constitutes 4.24% through the use of tender option bonds, 36.42% in issued and outstanding preferred stock and 9.39% 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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