Economy: Economic growth often boosts demand for goods and services, potentially leading to higher earnings for companies held in FRJIHX.US, and therefore, higher fund values. Conversely, economic slowdowns can hurt company profits and fund prices.

Interest Rates: Rising interest rates can make bonds (which the fund may hold) less attractive, potentially lowering their prices and affecting the fund's overall value. Higher rates can also indirectly impact stocks.

Inflation: High inflation can erode corporate profitability, putting downward pressure on stock prices within the fund's portfolio. Also, it can push central banks to raise interest rates, further impacting bond prices.

Market Sentiment: General investor optimism or pessimism can drive buying and selling, impacting the fund's net asset value regardless of underlying fundamentals. "Animal spirits" are a significant factor.

Sector Performance: If FRJIHX.US is heavily invested in certain sectors, their performance will significantly influence the fund's price. A boom in a key sector lifts the fund. Conversely, a downturn hurts the fund.

Company Performance: The fund's value reflects the performance of the individual companies it holds. Strong earnings reports and positive news from major holdings can increase the fund's price. Conversely, negative news hurts the fund.

Fund Management: The investment decisions made by the fund's managers, including stock selection and asset allocation, have a direct impact on its performance and thus its price. Skilled management leads to gains, ineptness to losses.

Fund Flows: Large inflows into the fund can drive up its price, while significant outflows can force the fund to sell assets, potentially lowering its value, especially with less liquid holdings.

Geopolitical Events: Global events like wars, political instability, or trade disputes can create market uncertainty and impact the value of investments held by FRJIHX.US. This is magnified with international holdings.

Currency Fluctuations: For funds holding international assets, currency fluctuations can impact returns. A stronger dollar reduces the value of foreign holdings when converted back into USD.