There are some aspects of this fund which may require extra consideration before deciding to invest.

Single asset class

Single-class funds, also called "single-sector", hold only one kind of investment (e.g. just shares or just bonds).

See the mix for this investment

Mix

This is the actual mix of growth assets (shares, property) and income assets (bonds, cash) that this fund held on 30 September 2024. The average mix for defensive managed funds is in grey.

Mix

Fees

Fees shown here (in purple) are based on what you would pay over a year if you had $10,000 in this fund. Compare with the average fees for defensive managed funds (in grey).

Fees

Returns

Returns (in green) show how much this fund has grown in value in five years up to 30 September 2024 – after fees and taxes. Compare with the average defensive managed fund (in grey).

Returns

Compare with other defensive managed funds Product disclosure statement

Key facts

Here is what the provider says about this managed fund

“ The fund is a passively managed international fixed interest portfolio that is designed to track the return of the Bloomberg Barclays MSCI Global Aggregate SRI Select ex-Fossil Fuels Index. The fund is managed to specific ‘sustainable investment’ criteria which aim to avoid investments in certain companies or activities, and encourage investment in companies with strong environmental, social and governance characteristics. This fund has additional exclusions applied as described in our Sustainable Investment Policy and has been certified by the Responsible Investment Association of Australasia (RIAA). The fund aims to provide a return that closely matches the return of Bloomberg Barclays MSCI Global Aggregate SRI Select ex-Fossil Fuels Index (100% hedged to NZD on an after-tax basis). ”

Provider website: mercer.co.nz
Minimum investment: $0
Fund start date: 27 November 2017

When can you get your money out?

For this managed fund (i.e. not a KiwiSaver fund), see the section of the PDS on withdrawing funds and how this works. Also, look for information about how long it takes to actually get paid after requesting a withdrawal, whether regular withdrawals are possible, and how often.

Mix

This is a snapshot of the proportion of growth assets (shares, property, other) or income assets (cash, bonds) that this fund held on 30 September 2024.

You can also see the average for Defensive funds, which typically hold from 0% to 10% of growth assets.

Different mix, different result

As you invest, your mix (often called "asset allocation") is the most significant factor that will determine the results you get, including the ups and downs in value you experience. It's important to get right.

Choosing a specific mix is a way of dialling your risk up or down, depending on the amount of growth assets you take on board. The more risk you take on, the higher your returns are likely to be, although this is no sure thing. That's what risk is all about.

For the most appropriate mix for you and your situation (often called your "risk profile"), see Sorted's investor kickstarter for managed funds, or answer these three questions for KiwiSaver funds.

This fund's asset mix

Growth assets
Income assets

ASSET TYPE
THIS FUND
AVERAGE OF ALL DEFENSIVE MANAGED FUNDS

Breakdown on Shares assets

	ACTUAL	TARGET	AVERAGE
Total	0.00%	—	0.13%
International shares	0.00%	0.00%	0.08%
Australasian shares	0.00%	0.00%	0.05%

About shares

Buying shares gives you part ownership in a company and can bring returns from your share of the profits (dividends) or from selling the shares for more than you paid. Shares are growth assets and are also known as equities or stock. Here's more on the basics of shares.

Breakdown on Property assets

	ACTUAL	TARGET	AVERAGE
Total	0.00%	—	0.11%
Listed property	0.00%	0.00%	0.04%
Unlisted property	0.00%	0.00%	0.07%

About property

Property refers to commercial real estate (not the family home) owned through property trusts or companies that own or develop real estate as their business. Properties are growth assets and can be listed on an exchange or be unlisted.

Breakdown on Other assets

	ACTUAL	TARGET	AVERAGE
Total	0.00%	—	0.17%
Commodities	0.00%	0.00%	0.00%
Other	0.00%	0.00%	0.17%
Unknown	0.00%	0%	0.00%

What "other" means

This category can include alternative investments such as derivatives, often through a hedge fund. These "other" investments are typically considered growth assets, or high-risk investments.

Breakdown on Bonds assets

	ACTUAL	TARGET	AVERAGE
Total	98.11%	—	72.21%
New Zealand bonds	0.19%	0.00%	36.06%
International bonds	97.92%	100.00%	36.15%

About bonds

A bond is a bit like a term deposit at a bank, but it's effectively a loan you make to a company or government which they promise to pay back in full on a specific date. Until then, you receive regular interest at a fixed or agreed rate. Bonds are income assets and can also be called "fixed interest" or "debt securities". Since they can typically be traded on a secondary market, their value can go up and down. Here's more on the basics of bonds.

Breakdown on Cash assets

	ACTUAL	TARGET	AVERAGE
Total	1.89%	—	27.39%
Cash and equivalents	1.89%	0.00%	27.39%

About cash

Cash is a kind of investment that generally pays you interest. (An exception to this are shariah-compliant funds, which can hold cash but are prohibted from earning interest.) Cash typically includes term deposits, floating-rate notes and money market accounts. Cash, which is often a loan to a bank, is considered an income asset. Here's more on investing in term deposits.

Top 10 investments

These assets make up 15.77% of this fund.

Asset	Asset class	Type	Country	% of Fund
ISHARES MBS ETF	Bonds	International fixed interest	US	12.37%
UNITED STATES TREASURY BOND 1.875% MATURING 28/02/29	Bonds	International fixed interest	US	0.43%
UNITED STATES TREASURY BOND 4.375% MATURING 15/07/27	Bonds	International fixed interest	US	0.38%
UNITED STATES TREASURY BOND 4.125% MATURING 31/03/29	Bonds	International fixed interest	US	0.37%
UNITED STATES TREASURY BOND 3.875% MATURING 30/11/27	Bonds	International fixed interest	US	0.37%
UNITED STATES TREASURY BOND 4.375% MATURING 15/08/26	Bonds	International fixed interest	US	0.37%
UNITED STATES TREASURY BOND 4.25% MATURING 15/03/27	Bonds	International fixed interest	US	0.37%
UNITED STATES TREASURY BOND 4.125% MATURING 15/05/27	Bonds	International fixed interest	US	0.37%
UNITED STATES TREASURY BOND 4.25% MATURING 31/01/26	Bonds	International fixed interest	US	0.37%
UNITED STATES TREASURY BOND 3.625% MATURING 31/03/28	Bonds	International fixed interest	US	0.37%

Full list of investments this fund holds

Mercer Ethical Leaders Hedged Global Fixed Interest Index Fund - Full Portfolio Holdings - September 2024.xlsx

A complete list of the fund's holdings

xlsx, 205 KB

Fees

Fees shown here (in purple) are based on what you would pay over a year if you had $10,000 in this fund. You can compare these with fees for the average defensive managed fund (in grey).

Fees breakdown

Here's a breakdown of the different charges in this fund (in purple), compared to the average defensive managed fund (in grey).

Fee Type	% Over a Year	Amount Paid on a 10K Balance
Management This fee is charged to you by the fund manager on the fund or an underlying fund, and is based on a percentage of your balance.	0.35% AVG: 0.55%	$35.00 AVG: $55.33
Other This is a summary of other potential costs not covered in the categories displayed.	0.08% AVG: 0.08%	$8.00 AVG: $8.44
Performance-based These fees are based on the performance of the fund or underlying fund. When the fund performs well, these will be higher.	None AVG: 0.03%	$0.00 AVG: $2.75
Membership You pay this membership charge (a flat fee) each year, regardless of your balance or the fund's performance.	0.00% AVG: 0.03%	$0.00 AVG: $2.90
Total combined fees These are a total of management and administration charges and performance-based fees over a year. They do not necessarily include fees for activities like transferring or withdrawing.	0.43% AVG: 0.69%	$43.00 AVG: $69.42

Returns

For the past five years, this fund returned this average each year to investors (in green). This was after fees and taxes (28% PIR) were taken out. To compare, you can see the average return over the same time for all defensive managed funds (in grey).

Yearly returns

These annual returns (in green) were for the 12 months up to 31 March 2024. You can compare them to the average defensive managed fund (in grey).

Risks

Specific risks for this fund

Chasing higher returns while investing always increases risks. Several kinds of risks, actually. It is important to evaluate whether the returns are worth it, whether you can cope, and whether this investment will in fact help you achieve your goals. Also, since the way an investment is structured can make it riskier, it's important to understand how it works.

You'll find the specific risks in the Risk section of the PDS, and here's more about understanding risk.

Mercer Investment Funds PDS Cash and Fixed Interest Funds.pdf

How this investment works, including about the provider, risks, costs and potential returns

pdf, 1.2 MB

Risk indicator

This is a gauge of how volatile this investment has been – how much it has gone up and down in value. It has been calculated based on the fund's five-year performance (or an appropriate market index if it has not been around that long).

The left side of this range of numbers indicates a Lower risk

The right side of this range of numbers indicates a Higher risk

The left side of this range of numbers indicates Potentially
lower returns

The right side of this range numbers indicates Potentially
higher returns

Key documents

These are the most important documents that a provider is required to file about this investment.

Product disclosure statement

Before you invest in a product like a fund, you are given a PDS which has essential details about it and the company providing it. Here's more on how to read a PDS.

Mercer Investment Funds PDS - Index Funds.pdf

pdf, 1008 KB

Fund update (most recent)

This update from the provider lets you see much of the same information shown here in Smart Investor: how this fund is performing, what it costs and the investments it currently holds.

Mercer Ethical Leaders Hedged Global Fixed Interest Index Fund Fund Update 30 September 2024.pdf

The quarterly update published by the provider

pdf, 82 KB

Complete asset portfolio

Browse through the complete list of investments held by this fund.

Mercer Ethical Leaders Hedged Global Fixed Interest Index Fund - Full Portfolio Holdings - September 2024.xlsx

A complete list of the fund's holdings

xlsx, 205 KB

Additional disclosure documents

These are more documents from the provider that can contain interesting information.

Mercer Investment Funds PDS Cash and Fixed Interest Funds.pdf

How this investment works, including about the provider, risks, costs and potential returns

pdf, 1.2 MB

Statement of investment policy and objectives (SIPO)

A SIPO tells you where the fund managers are coming from. It sets out the governance and management framework, philosophy, strategies and objectives for this investment.

Mercer Investment Funds SIPO 11 September 2024.pdf

Strategies and objectives for this investment

pdf, 492 KB

Key personnel

These are the directors and employees who have the most influence on investment decisions for this fund.

Name	Current position	Time in role
ROSS BUTLER	Chair - Mercer (N.Z.) Ltd	1 year, 5 months
MARTIN LEWINGTON	CEO - Mercer (N.Z.) Ltd	15 years, 7 months
KYLIE WILLMENT	Chief Investment Officer, Pacific, Mercer Australia (Pty) Ltd	6 years, 11 months
PADRAIG BROWN	Chief Investment Officer - New Zealand, Mercer (N.Z.) Ltd	2 years, 4 months
ROBERT KAVANAGH	Head of Portfolio Management NZ - Mercer (N.Z.) Ltd	10 years, 6 months

Additional details

Manager details

Name

MACQUARIE ASSET MANAGEMENT PUBLIC INVESTMENTS (NZ) LIMITED

Type

NZ Limited Company

Website

mercer.co.nz

NZBN

9429039624390

View on Companies Register

FSP Number

FSP37681

View on Financial Service Providers Register

Supervisor

Name

THE NEW ZEALAND GUARDIAN TRUST COMPANY LIMITED

Fund details

Asset liquidity ratio

100.00%

Total value of fund

$515,183,567.21

Debt ratio

0.05%

Continuous issue

Yes

Default KiwiSaver

Lifecycle option

Multi-fund option

Schedule 1 exemption

FMA exemption

Number of members

Reference numbers

Fund

FND8206: MERCER ETHICAL LEADERS HEDGED GLOBAL FIXED INTEREST INDEX FUND

View on Disclose Register

Offer

OFR10322: MERCER INVESTMENT FUNDS

View on Disclose Register

Scheme

SCH10307: MERCER INVESTMENT FUNDS

View on Disclose Register

Next steps

Want to know more about this investment or how it compares to others? Have a look at its peers.

This is a

defensive managed fund

Compare with other defensive managed funds

Product disclosure statement

Take a deeper dive into the PDS, which has essential details about this offer and the company providing it. Here's more on how to read a PDS.

Mercer Investment Funds PDS Cash and Fixed Interest Funds.pdf

How this investment works, including about the provider, risks, costs and potential returns

pdf, 1.2 MB

Fund update (most recent)

These are provided to members of the fund (usually once each quarter) to update them on its performance.

Mercer Ethical Leaders Hedged Global Fixed Interest Index Fund Fund Update 30 September 2024.pdf

The quarterly update published by the provider

pdf, 82 KB

Getting investment advice

Good advice is gold. Everyone can benefit from expert advice, provided the adviser has your interests at heart. Here's how to find one and key questions to ask.

Interested in investing in this offer? Visit the provider's website. mercer.co.nz

MERCER ETHICAL LEADERS HEDGED GLOBAL FIXED INTEREST INDEX FUND

MERCER INVESTMENT FUNDS

Share and Print options for this page

Single asset class

Mix

Fees

Returns

Key facts

Here is what the provider says about this managed fund

When can you get your money out?

Mix

This fund's asset mix

Shares

Breakdown on Shares assets

About shares

Property

Breakdown on Property assets

About property

Other

Breakdown on Other assets

What "other" means

Bonds

Breakdown on Bonds assets

About bonds

Cash

Breakdown on Cash assets

About cash

Top 10 investments

Full list of investments this fund holds

Mercer Ethical Leaders Hedged Global Fixed Interest Index Fund - Full Portfolio Holdings - September 2024.xlsx

Fees

Fees breakdown

Management

Other

Performance-based

Membership

Total combined fees

Returns

Yearly returns

Risks

Specific risks for this fund

Mercer Investment Funds PDS Cash and Fixed Interest Funds.pdf

Risk indicator

Key documents

Product disclosure statement

Mercer Investment Funds PDS - Index Funds.pdf

Fund update (most recent)

Mercer Ethical Leaders Hedged Global Fixed Interest Index Fund Fund Update 30 September 2024.pdf

Complete asset portfolio

Mercer Ethical Leaders Hedged Global Fixed Interest Index Fund - Full Portfolio Holdings - September 2024.xlsx

Additional disclosure documents

Mercer Investment Funds PDS Cash and Fixed Interest Funds.pdf

PDS Global Shares Funds_7 December 2018.pdf

PDS Goals Based Funds_3 December 2018.pdf

PDS New Zealand and Australian Shares Funds 3 December 2018.pdf

PDS Property Infrastructure and Commodities Funds 3 December 2018.pdf

PDS Responsible Investment Leaders Diversified Funds_3 December 2018.pdf

PDS Index Funds_3 December 2018.pdf

PDS Global Companies Fund 16.10.18.pdf

AMP Capital Investment Funds OMI - 3 Jan 19.pdf

PDS Responsible Investment Leaders Diversified Funds_1 March 2019.pdf

AMP Capital Global Shares Funds PDS 18.07.2019.pdf

AMP Capital Goals Based Funds PDS 18.07.2019.pdf

AMP Capital New Zealand and Australian Shares Funds PDS 18.07.2019.pdf

AMP Capital Property Infrastructure & Commodities Funds PDS 18.07.2019.pdf

AMP Capital Ethical Leaders Diversified Funds PDS 18.07.2019.pdf

AMP Capital Index Funds PDS 18.07.2019.pdf

AMP Capital OMI - 18.07.2019.pdf

AMP Capital Investment Funds OMI 27.08.2019.pdf

AMP Capital Global Shares Funds PDS 28.02.2020.pdf

AMP Capital Goals Based Funds PDS 28.02.2020.pdf

AMP Capital New Zealand and Australian Funds PDS 28.02.2020.pdf

AMP Capital Property Infrastructure and Commodities Funds PDS 28.02.2020.pdf

AMP Capital Ethical Leaders Diversified Funds PDS 28.02.2020.pdf

AMP Capital Index Funds PDS 28.02.2020.pdf

AMP Capital Investment Funds OMI 23.03.20.pdf

AMP Capital Global Shares Fund PDS 09.04.2020.pdf

AMP Capital Goals Based Funds PDS 09.04.2020.pdf

AMP Capital New Zealand and Australian Funds PDS 09.04.2020.pdf

AMP Capital Property Infrastructure and Commodities Funds PDS 09.04.2020.pdf