FKTIX is not a stock fund..it is a municipal bond fund. As such, it should be more stable, relying on cities, states, and other municipalities who issue bonds for large capital ventures. The fact that many bond insurers have taken hits has scared off some investors, but there is frankly little need for insurance on these types of bond issues. If they go down the tank, the lights, heat, meters, and bridges of the country will too!
However, there is a rush to cash in the current market panic, and investors of all sizes are seeking even safer investments. That is driving share price down, though yeild is pacing upward about .005% in September.
I'll admit...I've got a substantial sum in this account and I'm nervous. The trend has been down when the market is down...and down again when the market is up! But...the fun has sunk only about 4.5-5% in the past three months when most other portfolios are taking about a 15% hit year to date. So....the needle will move slowly on this fund...if it continues to tick down after the bail out plan is settled, got to FDIC insured savings, T Bills or Gold!