Underlying Asset Performance: The fund's price heavily depends on the performance of its underlying investments, likely European equities. Positive equity market returns generally lead to higher fund prices.

Currency Exchange Rates: As the fund invests in European assets, currency fluctuations between the fund's base currency (likely GBP) and the Euro will impact the fund's value. A stronger Euro boosts returns, while a weaker Euro diminishes them.

Interest Rates: Interest rate changes in Europe can influence company valuations and bond yields, thus affecting the fund's underlying equity and fixed income holdings.

Economic Conditions: Overall economic health in Europe plays a significant role. Strong economic growth usually leads to higher company profits and stock prices, benefitting the fund.

Investor Sentiment: Market sentiment towards European equities or specific sectors within the fund's portfolio can drive buying and selling pressure, influencing the fund's price.

Fund Management Fees: The fund's expense ratio and management fees reduce the net return available to investors, indirectly impacting the fund's price relative to its gross returns.

Supply and Demand: The simple forces of supply and demand in the market where the fund is traded also affects the price.

Geopolitical Events: Major political events or crises in Europe can impact investor confidence and market volatility, causing fluctuations in the fund's price.