NEW YORK, June 26, 2012 /PRNewswire/ -- Alliance California Municipal Income Fund, Inc. (NYSE: AKP) (the "Fund") today released its monthly portfolio update as of May 31, 2012.
Alliance California Municipal Income Fund, Inc. | ||
Top 10 Fixed-Income Holdings | ||
Portfolio % | ||
1) Los Angeles CA USD GO NPFGC Series 02E 5.125%, 1/01/27 (Prerefunded/ETM) | 4.39% | |
2) Los Angeles CA Wstwtr Sys 5.00%, 6/01/26 | 4.03% | |
3) San Francisco CA Pub Util Wtr Series 2012C 5.00%, 11/01/26 | 3.93% | |
4) Los Angeles Cnty CA Met Trnsp Auth (Los Angeles Cnty CA Mta Sales Tax) 5.00%, 7/01/25 | 3.48% | |
5) Los Angeles CA GO Series 2012A 5.00%, 9/01/23 | 3.18% | |
6) California Pub Wks Brd (Univ of California Lease) Series 2011A 5.25%, 12/01/26 | 3.11% | |
7) Los Angeles CA Cmnty Redev Agy (Los Angeles CA Cra Grand Ctrl) AMBAC Series 02 5.375%, 12/01/26 | 2.90% | |
8) Los Angeles CA Harbor Dept 5.00%, 8/01/26 | 2.84% | |
9) Puerto Rico Hwy & Trnsp Auth Series 02D 5.375%, 7/01/36 (Prerefunded/ETM) | 2.83% | |
10) San Diego Cnty CA Regl Trnsp Commn Series 2012A 5.00%, 4/01/28 | 2.22% | |
Sector/Industry Breakdown | ||
Portfolio % | ||
Revenue | ||
Water & Sewer | 15.69% | |
Electric Utility | 5.22% | |
Port | 4.81% | |
Revenue - Miscellaneous | 3.71% | |
Higher Education - Public | 3.11% | |
Health Care - Not-for-Profit | 2.99% | |
Higher Education - Private | 2.58% | |
Airport | 2.34% | |
Primary/Secondary Ed. - Private | 1.38% | |
Industrial Development - Utility | 0.18% | |
SUBTOTAL | 42.01% | |
Tax Supported | ||
Special Tax | 13.85% | |
Local G.O. | 12.02% | |
Tax-Supported Local Lease | 3.94% | |
Assessment District | 2.30% | |
State G.O. | 2.00% | |
Tax-Supported State Lease | 1.58% | |
SUBTOTAL | 35.69% | |
Prerefunded/ETM | 11.32% | |
Insured/Guaranteed | ||
Insured | 6.04% | |
SUBTOTAL | 6.04% | |
Asset-Backed | ||
Housing - Multi-Family | 2.53% | |
SUBTOTAL | 2.53% | |
Cash Equivalents | ||
Investment Companies | 2.41% | |
SUBTOTAL | 2.41% | |
Total | 100.00% | |
State Breakdown | |
Portfolio % | |
California | 90.47% |
Puerto Rico | 5.98% |
Nevada | 0.96% |
Ohio | 0.18% |
Other | 2.41% |
Total Investments | 100.00% |
Credit Quality Breakdown | |
Portfolio % | |
AAA | 16.19% |
AA | 49.49% |
A | 14.44% |
BBB | 3.36% |
Not Rated | 2.79% |
Pre-refunded Bonds | 11.32% |
Short Term Investments | 2.41% |
Total Investments | 100.00% |
Portfolio Statistics: | |
AMT Percentage: | 13.86% |
Average Coupon: | 5.89 |
Percentage of Leverage: | |
Bank Borrowing: | 0.00% |
Investment Operations: | 9.39% |
Preferred Stock: | 36.42% |
Tender Option Bonds: | 4.24% |
Term Asset-Backed Loans Facility (TALF): | 0.00% |
Total Fund Leverage: | 50.05%* |
Average Effective Maturity: | 5.96 Years |
Effective Duration: | 5.20 Years |
Total Net Assets: | $199.21 Million** |
Common Stock Net Asset Value: | $14.83 |
Number of Holdings: | 82 |
Portfolio Turnover: | 14 |
* The total percentage of leverage constitutes 4.24% through the use of tender option bonds, 36.42% in issued and outstanding preferred stock and 9.39% 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.