Underlying Asset Performance: The primary driver is the performance of the assets held within the fund, reflecting market conditions.

Market Sentiment: Investor optimism or pessimism towards the sectors and regions the fund invests in influences demand and price.

Fund Management Expertise: The skill of the fund manager in selecting and managing assets impacts returns and perceived value.

Expense Ratio: The fund's operating costs can affect its net asset value (NAV) and competitiveness, impacting its price.

Supply and Demand: High demand relative to supply raises the price, while increased selling pressure lowers it.

Economic Conditions: Broad economic factors like GDP growth, interest rates, and inflation affect asset valuations and investor behavior.

Regulatory Changes: New regulations impacting the fund's investment strategy or operational costs can influence investor sentiment and price.

Currency Fluctuations: Changes in currency exchange rates can impact the value of international assets held by the fund.

Geopolitical Events: Global events can create volatility and affect investor risk appetite, influencing fund flows and prices.