Market Conditions: Overall market sentiment, economic indicators (like inflation, interest rates, GDP growth), and global events influence investor confidence and demand for the fund's underlying assets.

Fund Performance: The historical and recent performance of the fund relative to its benchmark and peer group is a key driver. Higher returns attract more investment, pushing the price up.

Asset Allocation: The types of assets held by the fund (e.g., stocks, bonds, real estate) and their allocation across different sectors and geographies impact the fund's value based on the performance of those assets.

Expense Ratio: The fund's expense ratio, which covers management fees and operating expenses, directly reduces the return to investors and affects the fund's relative attractiveness.

Supply and Demand: The fundamental forces of supply and demand for the fund's shares in the secondary market will influence the price, just like any other traded asset.

Fund Manager Expertise: The skill and experience of the fund manager in selecting investments and managing risk can significantly impact the fund's performance and thus its price.

Investor Sentiment: Changes in investor mood regarding the market sector that this fund focuses on will impact demand and its price.

Brexit impacts: Ongoing adjustments related to Brexit may influence the fund's holdings and valuation, affecting its price.