Fund Performance: Past performance and relative performance against its benchmark influence investor demand.

Market Conditions: General economic trends, investor sentiment, and global events impact asset values.

Fund Expenses: Management fees, operational costs, and other expenses detract from returns.

Underlying Assets: The value of the stocks, bonds, or other assets held by the fund drive its net asset value (NAV).

Interest Rates: Interest rate changes affect bond valuations within the fund portfolio, especially when its investment involves high-yield corporate bonds and sovereign debt.

Currency Fluctuations: Exchange rate shifts can affect returns if the fund invests in assets denominated in foreign currencies.

Inflation: Rising inflation can erode real returns, especially for fixed-income investments.

Supply and Demand: Investor purchases and redemptions impact fund size and can influence trading prices.

Fund Manager Skill: The fund manager's ability to select profitable investments affects performance.

Geopolitical Risk: Political instability and international relations can affect investor confidence and the funds that manage them.