Fund Performance: The fund's historical returns and relative performance compared to its benchmark and peers significantly influence its price.

Market Conditions: Broad market trends, including economic growth, inflation, interest rates, and investor sentiment, impact the overall demand for and valuation of the fund's underlying assets.

Underlying Assets: The price is directly affected by the performance of the securities (stocks, bonds, etc.) held within the fund's portfolio. A decline in the value of these assets will decrease the fund's NAV.

Fund Management: The investment decisions made by the fund manager, including asset allocation, security selection, and trading strategies, can affect the fund's performance and thus its price.

Expense Ratio: The fund's expense ratio, which covers management fees and operating expenses, can affect its returns and appeal to investors. A higher expense ratio can negatively affect net returns.

Supply and Demand: General investor demand for the fund and the availability of units will impact the fund's price on secondary markets, although this effect is typically limited for open-end funds.

Currency Fluctuations: Changes in exchange rates can influence the value of the fund's assets, particularly if the fund invests in foreign securities, as the asset value will change as currency changes.