Alliance New York Municipal Income Fund Releases Monthly Portfolio Update

Top 10 Fixed-Income Holdings 

Portfolio %

1)    Port Authority of NY & NJ 5.00%, 10/01/27

4.92%

2)    New York St Dormitory Auth NPFGC Series 04 5.75%, 8/01/14 (Prerefunded/ETM)

4.83%

3)    Erie Cnty NY Fiscal Stability Auth (Erie Cnty Ny Sales Tax) Series 2011C

4.11%

       5.00%, 12/01/25

4)    New York St Thruway Auth (New York St Thruway Auth Ded Tax) Series             

4.08%

       2011A 5.00%, 4/01/25

5)    Puerto Rico Sales Tax Fin Corp. Series 2009A 5.50%, 8/01/28

3.78%

6)    Tobacco Settlement Fin Corp. NY (New York St Lease Tobacco Asset Sec)             

3.66%

       AMBAC Series 03A-1 5.25%, 6/01/21

7)    New York St Envrn Fac Corp. 5.00%, 8/15/24

3.14%

8)    New York NY Trnsl Fin Auth Series 2012A-1 5.00%, 5/01/27

3.10%

9)    New York NY Trnsl Fin Auth Series 2002B 5.00%, 2/01/27

3.04%

10)  New York St Dormitory Auth (New York St Pers Income Tax)               

3.04%

        5.00%, 3/15/26

Sector/Industry Breakdown

Portfolio %

Tax Supported

32.80%

             Special Tax

9.55%

             Local G.O.

5.68%

             Tax-Supported State Lease

1.65%

             State G.O.

0.42%

             Assessment District

50.10%

SUBTOTAL

Revenue

             Water & Sewer

8.48%

             Toll Roads/Transit

7.98%

             Health Care - Not-for-Profit

5.94%

             Airport

4.92%

             Higher Education - Private

3.63%

             Senior Living

3.16%

             Electric Utility

2.02%

             Revenue - Miscellaneous

1.32%

             Industrial Development - Industry

0.47%

             Industrial Development - Utility

0.22%

SUBTOTAL

38.14%

Prerefunded/ETM

5.28%

Cash Equivalents

             Investment Companies

4.57%

SUBTOTAL

4.57%

Asset-Backed

             Housing - Multi-Family

1.91%

SUBTOTAL

1.91%

Total

100.00%

State Breakdown

Portfolio %

New York

88.94%

Puerto Rico

5.28%

Colorado

0.42%

Illinois

0.34%

California

0.23%

Ohio

0.22%

Other

4.57%

Total Investments

100.00%

             Credit Quality Breakdown

Portfolio %

                    AAA

25.31%

                    AA

43.71%

                    A

14.97%

                    BBB

4.53%

                    BB

0.47%

                    Not Rated

1.16%

                    Pre-refunded Bonds

5.28%

                    Short Term Investments

4.57%

                    Total Investments

100.00%

Bonds By Maturity

Portfolio %

Less than 1 year

4.61%

1 to 5 years

5.19%

5 to 10 years

11.38%

10 to 20 years

71.24%

20 to 30 years

7.58%

More than 30 years

0.00%

Other

0.00%

Total Investments

100.00%

Portfolio Statistics:

             AMT Percentage:

9.78%

             Average Coupon:

5.12%

             Percentage of Leverage:

                    Bank Borrowing:

0.00%

                    Investment Operations:

0.00%

                    Preferred Stock:

38.19%

                    Tender Option Bonds:

3.93%

                    Term Asset-Backed Loans Facility (TALF):

0.00%

                    Total Fund Leverage:

42.12%*

             Average Effective Maturity:

6.64 Years

             Effective Duration:

5.64 Years

             Total Net Assets:

$106.83 Million**

             Common Stock Net Asset Value:

$13.65

             Number of Holdings:

68

             Portfolio Turnover:

44%

* The total percentage of leverage constitutes 3.93% through the use of tender option bonds, 38.19%

in issued and outstanding preferred stock 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 40,800,000 of preferred stock at liquidation value.