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ALLIANCE CALIF MUN INCOME FD
Symbol U : AKP
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Alliance California Municipal Income Fund Releases Monthly Portfolio Update

2012-11-27 16:06 ET - News Release

NEW YORK, Nov. 27, 2012 /PRNewswire/ -- Alliance California Municipal Income Fund, Inc. (NYSE: AKP) (the "Fund") today released its monthly portfolio update as of October 31, 2012.



Alliance California Municipal Income Fund, Inc.

 

Top 10 Fixed-Income Holdings



Portfolio %

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

4.33%

2)    San Francisco City/Cnty CA Pub Util Wtr

              Series 2012C  5.00%,  11/01/26

4.31%

3)    Los Angeles Cnty CA Met Trnsp Auth (Los Angeles

              Cnty CA Mta Sales Tax)  5.00%,  7/01/25

3.68%

4)    California Pub Wks Brd (Univ of California Lease)

              Series 2011A  5.25%,  12/01/26

3.39%

5)    Los Angeles CA Cmnty Redev Agy (Los Angeles CA 

              CRA Grand Ctrl) AMBAC Series 02  .375%,  12/01/26

3.07%

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

2.99%

7)    Puerto Rico Sales Tax Fin Corp. Series 2011A

              5.00%,  8/01/43

2.86%

8)    Port of Oakland CA Series 2012P  5.00%,  5/01/29

2.80%

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

2.42%

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

              5.00%,  4/01/28

2.40%



Sector/Industry Breakdown



Portfolio %

Revenue


Water & Sewer

15.58%

Port

7.84%

Electric Utility

7.73%

Revenue - Miscellaneous

3.94%

Higher Education - Public

3.39%

Health Care - Not-for-Profit

3.14%

Airport

2.52%

Higher Education - Private

2.31%

Primary/Secondary Ed. - Private

1.48%

Industrial Development - Utility

0.19%

SUBTOTAL                                                   

48.12%

Tax Supported


Special Tax                                          

21.46%

Local G.O.                                            

9.79%

Tax-Supported Local Lease                             

3.34%

State G.O.                                            

2.08%

Assessment District                                   

1.97%

Tax-Supported State Lease                             

1.70%

SUBTOTAL                                                   

40.34%

Insured/Guaranteed


Insured                                               

6.35%

SUBTOTAL                                                    

6.35%

Asset-Backed


Housing - Multi-Family                                

2.68%

SUBTOTAL                                                    

2.68%

Prerefunded/ETM                                             

2.51%

Total                                                    

100.00%



State Breakdown



Portfolio %

California                                                

93.40%

Puerto Rico                                                

4.39%

Nevada                                                     

1.02%

Guam                                                       

1.00%

Ohio                                                       

0.19%

Total Investments                                        

100.00%



Credit Quality Breakdown



Portfolio %

AAA                                            

14.61%

AA                                             

52.43%

A                                              

23.40%

BBB                                             

4.08%

Not Rated                                       

2.97%

Pre-refunded Bonds                              

2.51%

Total Investments                             

100.00%



Portfolio Statistics:


AMT Percentage:                                       

14.18%

Average Coupon:                                        

5.60%

Percentage of Leverage:


Bank Borrowing:                                     

0.00%

Investment Operations:                              

4.87%

Preferred Stock:                                   

36.05%

Tender Option Bonds:                                

4.20%

Term Asset-Backed Loans Facility (TALF):            

0.00%

Total Fund Leverage:                              

45.12%*

Average Effective Maturity:                       

6.40 Years

Effective Duration:                               

5.70 Years

Total Net Assets:                          

$201.26 Million**

Common Stock Net Asset Value:                         

$15.05

Number of Holdings:                                       

81

Portfolio Turnover:                                      

14%




* The total percentage of leverage constitutes 4.20% through the use of tender option bonds, 36.05% in issued and outstanding preferred stock and 4.87% 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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