Underlying Asset Performance: The fund's price is significantly impacted by the performance of the assets it holds. If those assets (stocks, bonds, etc.) increase in value, the fund's price tends to rise, and vice versa.

Market Sentiment: General investor optimism or pessimism towards the market sectors or geographical regions where the fund invests affects demand and thus price.

Fund Management Strategy: The skill and effectiveness of the fund manager in selecting and managing assets will influence returns and therefore impact the price.

Economic Conditions: Macroeconomic factors like inflation, interest rates, and GDP growth in relevant economies influence the performance of the fund's underlying assets, subsequently influencing the fund's price.

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.

Supply and Demand: The balance between investors buying and selling the fund's shares influences its price. High demand typically pushes the price up, while high selling pressure pushes it down.