[Market Interest Rates]: Rising interest rates can decrease the fund's value as bond yields increase and investors may prefer higher-yielding investments.

[Credit Quality of Bonds]: Downgrades in the credit ratings of bonds held by the fund can negatively impact its price.

[Economic Growth/Recession]: Economic downturns can lead to increased credit risk and decreased demand for corporate bonds, affecting the fund's NAV.

[Inflation Expectations]: Higher inflation expectations can erode the real value of fixed income securities, leading to price declines.

[Fund Management Strategy]: The fund manager's investment decisions and ability to select profitable bonds influence the fund's performance.

[Liquidity of Underlying Assets]: If the fund holds illiquid bonds, selling them quickly during market stress may be difficult and lead to lower prices.

[Geopolitical Events]: Global events like political instability or trade wars can create uncertainty and affect investor sentiment towards bond markets.

[Supply and Demand]: An increase in demand for the fund units can push up the price, while increased selling pressure can cause it to fall.