Fund Performance: HOSI11.SA's underlying assets' performance directly impacts its price. Positive returns increase demand and price.

Market Interest Rates: Rising interest rates can make fixed-income investments less attractive, potentially decreasing HOSI11.SA's price.

Investor Sentiment: Overall market optimism or pessimism influences buying and selling pressure, affecting HOSI11.SA's price.

Economic Conditions: Economic growth or recession can impact the real estate sector, influencing the fund's underlying assets and price.

Real Estate Market Trends: Vacancy rates, rental yields, and property values in the fund's investment areas affect its overall value.

Fund Management Expertise: Competent management decisions regarding property acquisition, management, and sales impact the fund's profitability.

Supply and Demand: Like any asset, the balance between buyers and sellers directly determines the trading price of HOSI11.SA shares.

Distribution Yield: The attractiveness of the dividend yield compared to alternatives influences investor demand.

Regulatory Changes: Changes in regulations related to real estate or investment funds can impact the fund's operations and profitability.

Inflation: Inflation can affect rental income and property values, impacting the fund's performance.