Market Sentiment: Overall investor confidence and risk appetite impact fund prices. Positive sentiment drives investment, increasing demand and prices. Conversely, fear lowers demand and prices.

Fund Performance: The fund's past returns and its ability to outperform its benchmark influence investor interest and therefore, its price. Consistent, strong performance attracts more investment.

Economic Conditions: Macroeconomic factors like inflation, interest rates, and economic growth affect the valuations of the assets held within the fund and subsequently the fund's price.

Sector Performance: The performance of the specific sectors in which the fund invests (e.g., technology, healthcare) greatly impacts the fund's overall valuation and price.

Expense Ratio & Fees: High expense ratios can negatively affect the fund's net returns, making it less attractive and potentially impacting its price relative to similar lower-cost funds.

Fund Size & Liquidity: A very large or illiquid fund can experience price fluctuations if significant investors attempt to enter or exit positions rapidly.

Currency Fluctuations: If the fund invests in assets denominated in foreign currencies, exchange rate movements will affect the fund's price when translated back to the base currency (likely GBP).