Global Economic Conditions: Economic growth, inflation, and interest rates worldwide impact investor sentiment and asset valuations.

Eurozone Economic Performance: The health of the Eurozone economy, including GDP growth, unemployment, and inflation, directly affects fund performance.

Market Sentiment: Overall investor confidence and risk appetite in global and European markets influence demand and valuations.

Interest Rate Policies: European Central Bank (ECB) interest rate decisions affect borrowing costs and investment returns.

Currency Exchange Rates: Fluctuations in the Euro exchange rate versus other currencies impact the value of investments denominated in those currencies.

Geopolitical Events: Political instability, trade wars, and other geopolitical risks can negatively affect market sentiment and asset values.

Fund Management Strategy: The fund manager's investment decisions, asset allocation, and risk management strategies impact performance.

Fund Expenses: Management fees, operating expenses, and other costs associated with the fund reduce overall returns.

Sector-Specific Performance: The performance of the specific sectors in which the fund invests influences its overall value.

Regulatory Changes: Changes in regulations affecting financial markets or the fund's investment strategy can impact performance.