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Alliance California Municipal Income Fund Releases Monthly Portfolio Update

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SOURCE Alliance California Municipal Income Fund, Inc.

NEW YORK, Feb. 23, 2017 /PRNewswire/ -- Alliance California Municipal Income Fund, Inc. (NYSE: AKP) (the "Fund") today released its monthly portfolio update as of January 31, 2017.

 

Alliance California Municipal Income Fund, Inc.






Top 10 Fixed-Income Holdings


Portfolio %

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

4.32%

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

3.47%

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

3.42%

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

2.87%

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

2.83%

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

2.73%

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

2.72%

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

2.59%

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

2.57%

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

2.36%




Sector/Industry Breakdown


Portfolio %

Revenue



Water & Sewer


9.11%

Revenue - Miscellaneous


8.32%

Toll Roads/Transit


7.29%

Electric Utility


6.48%

Higher Education - Public


4.32%

Health Care - Not-for-Profit


4.15%

Port


2.87%

Primary/Secondary Ed. - Public


2.48%

Airport


2.18%

Senior Living


1.60%

Higher Education - Private


1.53%

Primary/Secondary Ed. - Private


1.41%

SUBTOTAL


51.74%

Tax Supported



Special Tax


12.53%

Local G.O.


11.91%

Tax-Supported Local Lease


8.87%

Assessment District


5.19%

State G.O.


1.09%

SUBTOTAL


39.59%

Prerefunded/ETM


4.46%

Cash Equivalents



Investment Companies


2.97%

SUBTOTAL


2.97%

Asset-Backed



Housing - Multi-Family


1.24%

SUBTOTAL


1.24%

Total


100.00%




State Breakdown


Portfolio %

California


88.60%

New York


2.59%

Florida


1.89%

Guam


0.98%

Nevada


0.86%

Minnesota


0.59%

Missouri


0.52%

New Jersey


0.50%

Pennsylvania


0.50%

Ohio


0.00%

Other


2.97%

Total Investments


100.00%




Credit Quality Breakdown


Portfolio %

AAA


10.86%

AA


57.44%

A


10.58%

BBB


9.50%

B


1.24%

Not Rated


2.95%

Pre-refunded Bonds


4.46%

Short-Term Investments


2.97%

Total Investments


100.00%




Bonds By Maturity


Portfolio %

Less than 1 year


2.97%

1 to 5 years


1.14%

5 to 10 years


9.05%

10 to 20 years


69.15%

20 to 30 years


17.15%

More Than 30 years


0.54%

Other


0.00%

Total Investments


100.00%




Portfolio Statistics:



AMT Percent:


6.80%

Average Coupon:


5.17%

Percentage of Leverage:



Bank Borrowing:


0.00%

Investment Operations:


2.96%

Auction Preferred Shares (APS):


15.22%

Tender Option Bonds:


4.07%

Variable Rate MuniFund Term Preferred Shares (VMTPs):

20.44%

Total Fund Leverage:


42.69%*

Average Effective Maturity:


7.06  Years

Effective Duration:


5.48  Years

Total Net Assets:


$157.19 Million**

Common Stock Net Asset Value:


$14.88

Number of Holdings:


83

Portfolio Turnover:


12%




* The total percentage of leverage constitutes 4.07% through the use of tender option bonds, 15.22% in issued and outstanding APS,20.44%  in issued and outstanding VMTPs and 2.960% 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.

 

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