Fund Performance: Past returns and relative performance against its benchmark index influence investor demand and thus the fund's price.

Market Conditions: Overall economic conditions, investor sentiment, and broader market trends (e.g., bull or bear markets) impact fund valuations.

Asset Allocation: The fund's investment strategy, including the types of assets it holds (stocks, bonds, etc.) and their allocation weights, directly affects price.

Fund Flows: Significant inflows or outflows of capital can impact the fund's price, especially for smaller funds.

Management Fees & Expenses: High management fees and other expenses can detract from returns, potentially lowering the fund's relative price.

Interest Rates: Changes in interest rates, particularly those in the fund's investment region, can affect the valuations of bonds and other fixed-income assets held by the fund.

Currency Exchange Rates: For funds investing in international assets, fluctuations in currency exchange rates can impact the fund's price when translated back to the base currency.

Regulatory Changes: Changes in regulations or tax laws affecting the fund or its underlying investments can impact investor demand and price.