Market Interest Rates: Higher interest rates generally decrease bond prices, while lower rates increase them. FKHAIX, being a bond fund, is sensitive to interest rate changes.

Credit Quality of Holdings: The fund's investments in various bonds are affected by the creditworthiness of the issuers. Downgrades can lead to lower prices.

Inflation Expectations: Rising inflation erodes the purchasing power of future bond payments, decreasing their present value and impacting FKHAIX's price.

Economic Growth: A strong economy may lead to rising interest rates, indirectly pressuring bond prices, while slower growth can create demand for bonds.

Fund Flows: Large inflows into the fund can increase its demand and potentially its price, and vice versa for outflows.

Maturity and Duration: Longer-maturity bonds in FKHAIX are more sensitive to interest rate changes, affecting the fund's price volatility.

Fund Management Expertise: The manager's investment decisions and ability to navigate market conditions can impact the fund's performance and price.

Geopolitical Events: Global economic or political instability can create uncertainty, affecting bond prices and, in turn, FKHAIX's valuation.