All bond funds/cef's/etc are down--check PTY PCY FCO for examples--as interest rates rise. This is compounded by Aussie $ fall and , I think, the recent use of 'return of capital' for the 1/4 of the dividend payment. It's trading well below NAV, so may be time to buy. Unfortunately (for me), I did that at 6.86-6.92--a tad early, it seems.
It is incredibly tracking the downtrend of the Australian dollar.
Draw a comparison chart for FAX vs AUDUSD=X
Add XFAPX to the chart & you will have an absolute understanding about what is happening.
I spoke with Aberdeen today & they confirmed this situation.
The selling may be panic, but the buyers may be smarter than all of us.