Market Performance: Broad market trends, especially in European equities, influence the fund's NAV.

Sector Allocation: The fund's investment in specific sectors and their respective performance affects its value.

Currency Fluctuations: Changes in the Euro's exchange rate against other currencies impact returns if the fund invests internationally.

Interest Rates: Central bank policies and interest rate changes can affect bond yields and company valuations.

Fund Management: The skill of the fund manager in selecting investments directly impacts performance.

Expense Ratio: Higher expense ratios reduce net returns for investors.

Economic Data: Economic indicators like GDP growth, inflation, and unemployment influence market sentiment and company earnings.

Geopolitical Events: Political instability, trade wars, or global events can create volatility in markets and impact asset values.