Market Conditions: Overall market sentiment, economic growth, and geopolitical events influence fund performance. A bullish market typically drives prices up, while bearish conditions can lead to declines.

Fund Performance: The fund's historical returns and its ability to outperform its benchmark index are key drivers of investor demand and therefore, price.

Underlying Assets: The value of the securities (stocks, bonds, etc.) held within the fund directly impacts its net asset value (NAV) and market price.

Interest Rates: Changes in interest rates can affect the valuation of fixed-income securities held by the fund, influencing overall fund price.

Currency Fluctuations: If the fund invests in international assets, currency exchange rates between the pound (GBP) and other currencies can impact returns and price.

Management Fees and Expenses: High management fees and other operational expenses can erode returns and negatively affect the fund's attractiveness to investors.

Supply and Demand: General investor sentiment towards the fund and its investment strategy, the popularity of thematic investing, and news surrounding the fund can influence the supply of and demand for fund units, causing price fluctuations.