Underlying Asset Performance: L1IF.AU's price closely tracks the performance of its underlying investments, primarily listed infrastructure companies. If those companies perform well, the ETF's price increases, and vice versa.

Supply and Demand: Market demand for L1IF.AU shares influences its price. Higher demand generally leads to a price increase, while increased selling pressure can cause a price decrease.

Fund Flows: Inflows and outflows of money into and out of the ETF can affect its price. Significant inflows can drive up the price, while substantial outflows can put downward pressure on it.

Market Sentiment: Overall investor sentiment towards infrastructure assets and the broader stock market impacts L1IF.AU. Positive sentiment tends to boost the ETF's price.

Interest Rates: Changes in interest rates can affect infrastructure companies' profitability and valuations, consequently impacting L1IF.AU's price. Higher rates can sometimes decrease the price.

Economic Conditions: Economic growth or recession can influence the demand for infrastructure services, impacting the earnings of infrastructure companies and, in turn, L1IF.AU's price.