Fund Performance: A fund's historical returns and relative performance against its benchmark index and peer group significantly impact investor demand and, consequently, its price.

Market Conditions: Overall market trends, economic indicators (GDP growth, inflation, interest rates), and investor sentiment influence the valuation of the assets held within the fund, affecting its price.

Fund Holdings: The specific assets (stocks, bonds, etc.) held in the fund's portfolio and their individual performance directly influence the fund's overall value.

Fund Management: The fund manager's investment strategy, expertise, and ability to effectively manage risk impact the fund's performance and investor confidence, which in turn affects the price.

Expense Ratio: The fund's operating expenses, including management fees and administrative costs, reduce the net return to investors and can impact its attractiveness compared to similar funds.

Supply and Demand: The fundamental economic principle of supply and demand plays a role; high demand pushes prices up, while increased selling pressure can lead to price decreases.

Regulatory Changes: Changes in regulations impacting the fund's investment strategy, permissible assets, or tax treatment can affect investor perception and, consequently, the fund's price.

Currency Fluctuations: For funds investing in foreign assets, currency exchange rate fluctuations can impact the fund's value when translated back to the base currency (likely EUR in this case).