Underlying Asset Performance: The fund's price directly reflects the performance of the assets it holds. This includes stocks, bonds or other investments in the fund's portfolio.

Market Conditions: Broad economic trends, investor sentiment and global events influence the overall market and therefore the fund's valuation.

Interest Rates: Changes in interest rates affect bond valuations within the fund, and can also impact the attractiveness of equities.

Currency Fluctuations: If the fund invests in assets denominated in other currencies, exchange rate movements affect its value when expressed in euros.

Fund Management: Decisions made by the fund manager regarding asset allocation, security selection, and trading strategies impact returns.

Supply and Demand: Investor demand for the fund's shares relative to the available supply can cause price fluctuations.

Expense Ratio and Fees: The fund's operating expenses reduce returns, impacting its overall price performance over time.

Dividend Payouts: When underlying assets payout dividends, the fund price might be affected depending on the distribution policy.