  We present a 35 day ASCA observation of the NLS1 Akn 564, which was part of a
multiwavelength AGN Watch monitoring campaign. Akn 564 shows a photon index
varying across the range 2.45--2.72. The presence of the soft hump component
below 1 keV, previously detected in ASCA data, is confirmed. Time-resolved
spectroscopy with ~daily sampling reveals a distinction in the variability of
the soft hump and power-law components over a timescale of weeks, with the hump
varying by a factor of 6 across the 35-day observation compared to a factor 4
in the power-law. Flux variations in the power-law component are measured down
to a timescale of ~1000s and accompanying spectral variability suggests the
soft hump is not well-correlated with the power-law on such short timescales.
We detect Fe Ka and a blend of Fe Kb plus Ni Ka, indicating an origin in highly
ionized gas. Variability measurements constrain the bulk of the Fe Ka to
originate within a light week of the nucleus. The large EW of the emission
lines may be due to high metallicity in NLS1s, supporting some evolutionary
models for AGN.
