Asset Performance: The underlying assets (stocks, bonds, or other investments) held by the fund directly influence its price. Positive performance increases the Net Asset Value (NAV) and therefore the price.

Market Conditions: Broad market trends, economic indicators (like inflation, interest rates), and geopolitical events significantly impact investor sentiment and, consequently, the fund's price.

Fund Flows: High demand (inflows) can push the price up, while large redemptions (outflows) may exert downward pressure, particularly if the fund manager needs to sell assets to meet redemption requests.

Management Fees & Expenses: Higher expense ratios and management fees reduce the fund's returns, thereby potentially affecting its price compared to lower-cost alternatives.

Currency Fluctuations: If the fund invests in assets denominated in a foreign currency, changes in exchange rates between that currency and the base currency (likely GBP in this case) will impact the fund's value and price.

Investor Sentiment: Overall investor confidence or fear can drive buying or selling activity, affecting the fund's price regardless of the underlying assets' fundamental value.