Asset Performance: The underlying assets held by the fund (stocks, bonds, etc.) directly influence its price. Positive asset performance generally increases the fund's price, while negative performance decreases it. Market Conditions: Overall market trends, economic indicators, and investor sentiment significantly impact asset values. Bull markets usually drive fund prices up, while bear markets have the opposite effect. Currency Fluctuations: As an EU fund, currency exchange rates between GBP (likely base currency) and Euro can affect the fund's GBP price. A stronger Euro relative to GBP would increase the GBP price of Euro-denominated assets. Interest Rates: Changes in interest rates affect bond values, and can impact equity valuations as well. Rising interest rates often lead to decreased bond prices and potentially lower equity valuations. Fund Management: The fund manager's investment decisions, including asset allocation and security selection, influence the fund's performance and therefore its price. Expense Ratio: The fund's operating expenses, including management fees, impact its net asset value (NAV). Higher expenses reduce returns and can affect the fund's competitiveness. Supply and Demand: Investor demand for the fund relative to its available units influences its market price. High demand can push the price above its NAV, while low demand can depress it.