Economic Conditions: Economic growth or recession influences investor sentiment and market performance, impacting fund value.

Interest Rates: Changes in interest rates affect bond yields and the attractiveness of fixed income investments, thus affecting the fund.

Inflation: Rising inflation erodes the purchasing power of returns, which can pressure fund performance.

Market Sentiment: General investor confidence or fear can drive buying or selling pressure, impacting fund price.

Fund Management Expertise: The skills and decisions of the fund manager in selecting investments can greatly affect returns.

Underlying Asset Performance: The performance of the assets held within the fund (e.g., stocks, bonds) directly impacts the fund's value.

Geopolitical Events: Global events like political instability or trade wars can create market volatility and affect fund prices.

Currency Fluctuations: Changes in exchange rates can affect the value of international investments held by the fund.

Fund Flows: Large inflows or outflows of capital can impact the fund's ability to manage its portfolio efficiently.

Regulatory Changes: New regulations or policy changes can impact specific sectors or investment strategies, affecting fund performance.