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Alliance California Municipal Income Fund Releases Monthly Portfolio Update

NEW YORK, March 27, 2017 /PRNewswire/ -- Alliance California Municipal Income Fund, Inc. (AKP) (the "Fund") today released its monthly portfolio update as of February 28, 2017.

Alliance California Municipal Income Fund, Inc.

Top 10 Fixed-Income Holdings

Portfolio %

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

4.46%

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

3.57%

3) Los Angeles Department of Water & Power WTR    Series 2013B  5.00%, 7/01/32

3.52%

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

2.95%

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

2.91%

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

2.83%

7) Bay Area Toll Authority    Series 2013S  5.00%, 4/01/33

2.80%

8) Metropolitan Transportation Authority    Series 2014C  5.00%, 11/15/32

2.65%

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

2.65%

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

2.44%

 

Sector/Industry Breakdown


Portfolio %

Revenue



Water & Sewer


9.38%

Revenue - Miscellaneous


8.59%

Toll Roads/Transit


7.49%

Electric Utility


6.13%

Health Care - Not-for-Profit


4.80%

Higher Education - Public


4.46%

Port


2.96%

Primary/Secondary Ed. - Public


2.54%

Airport


2.24%

Higher Education - Private


2.12%

Senior Living


1.64%

Primary/Secondary Ed. - Private


1.44%

SUBTOTAL


53.79%

Tax Supported



Special Tax


12.91%

Local G.O.


11.67%

Tax-Supported Local Lease


9.15%

Assessment District


5.31%

State G.O.


1.12%

SUBTOTAL


40.16%

Prerefunded/ETM


4.59%

Asset-Backed



Housing - Multi-Family


1.27%

SUBTOTAL


1.27%

Cash Equivalents



Investment Companies


0.19%

SUBTOTAL


0.19%

Total


100.00%




State Breakdown


Portfolio %

California


91.16%

New York


2.65%

Florida


1.95%

Guam


1.01%

Nevada


0.87%

Minnesota


0.60%

Missouri


0.53%

New Jersey


0.52%

Pennsylvania


0.52%

Ohio


0.00%

Other


0.19%

Total Investments


100.00%




Credit Quality Breakdown


Portfolio %

AAA


10.57%

AA


59.16%

A


11.42%

BBB


9.77%

B


1.27%

Not Rated


3.03%

Pre-refunded Bonds


4.59%

Short-Term Investments


0.19%

Total Investments


100.00%




Bonds By Maturity


Portfolio %

Less than 1 year


0.19%

1 to 5 years


1.15%

5 to 10 years


9.32%

10 to 20 years


70.62%

20 to 30 years


17.62%

More Than 30 years


1.10%

Other


0.00%

Total Investments


100.00%




Portfolio Statistics:



AMT Percent:


5.81%

Average Coupon:


5.30%

Percentage of Leverage:



Bank Borrowing:


0.00%

Investment Operations:


3.17%

Auction Preferred Shares (APS):


15.28%

Tender Option Bonds:


4.08%

Variable Rate MuniFund Term Preferred Shares (VMTPs):

20.52%

Total Fund Leverage:


43.05%*

Average Effective Maturity:


7.02  Years

Effective Duration:


5.45  Years

Total Net Assets:


$157.84 Million**

Common Stock Net Asset Value:


$14.96

Number of Holdings:


83

Portfolio Turnover:


12%


 


* The total percentage of leverage constitutes 4.08% through the use of tender option bonds, 15.28% in issued and outstanding APS,20.52%  in issued and outstanding VMTPs and 3.170% 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

 

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