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Alliance California Municipal Income Fund Releases Monthly Portfolio Update

2018-06-22 16:37 ET - News Release

NEW YORK, June 22, 2018 /PRNewswire/ -- Alliance California Municipal Income Fund, Inc.(NYSE: AKP) (the "Fund") today released its monthly portfolio update as of May 31,2018.

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

3.45%

2) Los Angeles County Metropolitan Transportation Authority  (Los Angeles County Metropolitan Transportation Authority Sales Tax)  Series 2009  5.00%, 7/01/25

3.40%

3) San Diego Public Facilities Financing Authority      5.00%, 5/15/36

2.86%

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

2.85%

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

2.82%

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

2.81%

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

2.58%

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

2.37%

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

2.36%

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

2.17%




Sector/Industry Breakdown


Portfolio %

Revenue



Health Care - Not-for-Profit


10.14%

Water & Sewer


9.20%

Revenue - Miscellaneous


8.50%

Electric Utility


4.37%

Primary/Secondary Ed. - Public


4.16%

Toll Roads/Transit


3.77%

Port


3.70%

Airport


3.01%

Higher Education - Public


2.37%

Senior Living


1.64%

Higher Education - Private


1.63%

Primary/Secondary Ed. - Private


1.40%

Tobacco Securitization


0.73%

SUBTOTAL


54.62%

Tax Supported



Local G.O.


9.91%

Special Tax


9.24%

Tax-Supported Local Lease


9.19%

Assessment District


3.54%

State G.O.


2.84%

SUBTOTAL


34.72%

Prerefunded/ETM


8.71%

Asset-Backed



Housing - Multi-Family


1.27%

SUBTOTAL


1.27%

Cash Equivalents



Investment Companies


0.68%

SUBTOTAL


0.68%

Total


100.00%




State Breakdown


Portfolio %

California


91.24%

New York


1.69%

Florida


1.44%

Guam


1.44%

New Jersey


1.27%

Minnesota


0.62%

Illinois


0.55%

Pennsylvania


0.54%

Missouri


0.53%

Other


0.68%

Total Investments


100.00%




Credit Quality Breakdown


Portfolio %

AAA


10.27%

AA


49.58%

A


10.48%

BBB


15.52%

BB


0.85%

B


1.27%

Not Rated


2.64%

Pre-refunded Bonds


8.71%

Short-Term Investments


0.68%

Total Investments


100.00%




Bonds By Maturity


Portfolio %

Less than 1 year


0.68%

1 to 5 years


0.00%

5 to 10 years


13.24%

10 to 20 years


62.67%

20 to 30 years


23.41%

More Than 30 years


0.00%

Other


0.00%

Total Investments


100.00%




Portfolio Statistics:



AMT Percent:


3.32%

Average Coupon:


5.20%

Percentage of Leverage:



Bank Borrowing:


0.00%

Investment Operations:


1.16%

Auction Preferred Shares (APS):


15.41%

Tender Option Bonds:


4.12%

Variable Rate MuniFund Term Preferred Shares (VMTPs):

20.70%

Total Fund Leverage:


41.39%*

Average Effective Maturity:


5.43  Years

Effective Duration:


4.83  Years

Total Net Assets:


$157.33 Million**

Common Stock Net Asset Value:


$14.90

Number of Holdings:


87

Portfolio Turnover:


18%


* The total percentage of leverage constitutes 4.12% through the use of tender option bonds, 15.41% in issued and outstanding APS,20.70% in issued and outstanding VMTPs and 1.160% 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-300670997.html

SOURCE Alliance California Municipal Income Fund, Inc.

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