Fund Performance: Strong fund performance, especially relative to its benchmark, attracts investors and increases demand, potentially raising the fund's price (NAV).

Market Conditions: Broad market movements and economic conditions significantly impact the value of underlying assets, directly affecting the fund's NAV.

Interest Rates: Changes in interest rates can affect bond yields and overall market sentiment, influencing the fund's valuation.

Investor Sentiment: Positive investor sentiment towards the asset classes the fund invests in increases demand, potentially driving up the price.

Fund Flows: Large inflows into the fund can increase buying pressure, while outflows can force the fund to sell assets, potentially impacting the price.

Management Fees: Higher management fees can reduce the fund's net return, indirectly affecting its attractiveness and perceived value.

Currency Fluctuations: For funds investing in international assets, currency exchange rates can impact the value of returns when converted back to the base currency.