Fund Performance: Past returns, relative to its benchmark and peer group, greatly influence investor demand and therefore the fund's price.

Market Conditions: Overall market sentiment, economic indicators (like interest rates and inflation), and geopolitical events impact the fund's underlying assets and valuation.

Fund Flows: Large inflows increase demand, potentially pushing the price up, while significant outflows can force the fund manager to sell assets, possibly lowering the price.

Management Fees: Higher expense ratios can detract from returns, indirectly affecting the fund's price by making it less attractive to investors.

Holding Composition: The performance of the specific securities (stocks, bonds, etc.) held by the fund directly contributes to its overall value and price fluctuations.

Currency Fluctuations: For funds holding assets denominated in other currencies, exchange rate changes can significantly affect the fund's value when converted back to the base currency (likely EUR in this case).