Alliance California Municipal Income Fund Releases Monthly Portfolio Update

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PR Newswire 22-Jan-2018 4:06 PM
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NEW YORK, Jan. 22, 2018 /PRNewswire/ --Alliance California Municipal Income Fund, Inc. (NYSE: AKP) (the "Fund") today released its monthly portfolio update as of December 31, 2017.
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Alliance California Municipal Income Fund, Inc.


Top 10 Fixed-Income Holdings Portfolio %
1) Los Angeles Department of Water & Power WTR Series 2013B 5.00%, 7/01/32 3.48%
2) Los Angeles County Metropolitan Transportation Authority (Los Angeles CountyMetropolitan Transportation Authority Sales Tax) Series 2009 5.00%, 7/01/25 3.41%
3) San Diego Unified School District/CA Series 2013C 5.00%, 7/01/32 2.87%
4) San Diego Public Facilities Financing Authority 5.00%, 5/15/36 2.86%
5) Port of Los Angeles Series 2009C 5.00%, 8/01/26 2.83%
6) Bay Area Toll Authority Series 2013S 5.00%, 4/01/33 (Prerefunded/ETM) 2.82%
7) Metropolitan Transportation Authority Series 2014C 5.00%, 11/15/32 2.69%
8) City of San Francisco CA Public Utilities Commission Wastewater Revenue Series 2013B 5.00%, 10/01/32 2.60%
9) San Diego County Water Authority Financing Corp. Series 2013 5.00%, 5/01/31 2.39%
10) University of California 5.00%, 5/15/31 2.39%

Sector/Industry Breakdown Portfolio %
Revenue
Water & Sewer 9.28%
Health Care - Not-for-Profit 8.76%
Revenue - Miscellaneous 8.61%
Toll Roads/Transit 4.82%
Electric Utility 4.40%
Higher Education - Public 4.38%
Port 3.73%
Primary/Secondary Ed. - Public 3.26%
Airport 3.04%
Senior Living 1.66%
Higher Education - Private 1.65%
Primary/Secondary Ed. - Private 1.41%
SUBTOTAL 55.00%
Tax Supported
Special Tax 12.61%
Local G.O. 9.44%
Tax-Supported Local Lease 9.26%
Assessment District 4.15%
State G.O. 2.86%
SUBTOTAL 38.32%
Prerefunded/ETM 5.25%
Asset-Backed
Housing - Multi-Family 1.27%
SUBTOTAL 1.27%
Cash Equivalents
Investment Companies 0.16%
SUBTOTAL 0.16%
Total 100.00%

State Breakdown Portfolio %
California 92.40%
New York 2.69%
Florida 1.46%
Guam 1.04%
Minnesota 0.62%
New Jersey 0.55%
Pennsylvania 0.55%
Missouri 0.53%
Other 0.16%
Total Investments 100.00%

Credit Quality Breakdown Portfolio %
AAA 10.33%
AA 54.38%
A 10.27%
BBB 13.67%
B 1.27%
Not Rated 4.67%
Pre-refunded Bonds 5.25%
Short-Term Investments 0.16%
Total Investments 100.00%

Bonds By Maturity Portfolio %
Less than 1 year 0.16%
1 to 5 years 0.00%
5 to 10 years 12.58%
10 to 20 years 67.86%
20 to 30 years 19.40%
More Than 30 years 0.00%
Other 0.00%
Total Investments 100.00%

Portfolio Statistics:
AMT Percent: 3.34%
Average Coupon: 5.13%
Percentage of Leverage:
Bank Borrowing: 0.00%
Investment Operations: 0.00%
Auction Preferred Shares (APS): 15.05%
Tender Option Bonds: 4.02%
Variable Rate MuniFund Term Preferred Shares (VMTPs): 20.22%
Total Fund Leverage: 39.29%*
Average Effective Maturity: 5.81 Years
Effective Duration: 5.16 Years
Total Net Assets: $161.07 Million**
Common Stock Net Asset Value: $15.34
Number of Holdings: 86
Portfolio Turnover: 18%

* The total percentage of leverage constitutes 4.02% through the use of tender option bonds, 15.05% in issued and outstanding APS,20.22% in issued and outstanding VMTPs and 0.00% 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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SOURCE Alliance California Municipal Income Fund, Inc.