Fund Performance: How the fund performs against its benchmark and peers directly impacts investor demand and thus, its price. Better performance generally leads to higher prices.

Market Conditions: Overall market sentiment, economic indicators (like interest rates, inflation), and geopolitical events all influence investor behavior and asset valuations, affecting the fund's price.

Underlying Assets: The value of the assets (stocks, bonds, etc.) held within the fund directly drives its net asset value (NAV) and thus, its market price. Fluctuations in these asset values are critical.

Investor Demand: High demand for the fund can push the price higher, especially if supply is limited. Conversely, large redemptions can force the fund to sell assets, potentially lowering its price.

Management Fees & Expenses: Higher fees can detract from returns, making the fund less attractive to investors and potentially impacting its price negatively over time. Lower expense ratios are generally preferred.

Currency Fluctuations: If the fund invests in assets denominated in a currency different from the investor's, currency exchange rate changes can impact the fund's returns and perceived value, affecting the price.