Asset Performance: The underlying assets (stocks, bonds, etc.) held by the fund directly impact its price. Positive asset performance increases the fund's value.

Market Sentiment: Broad market trends and investor confidence influence demand for the fund. Positive sentiment generally drives prices up.

Interest Rates: Changes in interest rates can affect bond yields, impacting bond-heavy funds. Rising rates typically lower bond prices.

Currency Fluctuations: If the fund invests in foreign assets, currency exchange rates can affect its returns when converted back to GBP.

Fund Flows: Large inflows of cash into the fund can drive up its price, while large outflows can depress it as the fund sells assets.

Management Fees: Higher management fees reduce the fund's overall return and can impact its competitiveness compared to other similar funds.

Expense Ratio: The fund's expense ratio, encompassing all operating costs, directly affects the net return and thus the fund's price.

Economic Conditions: Overall economic health (GDP growth, inflation, unemployment) influences investor behavior and asset valuations, impacting fund performance.