Funds Overview - Multi-Manager Funds



From 11.59pm on 3 March 2023, Mercer became the manager of Macquarie Asset Management Public Investments (NZ) Ltd’s (MAM) retail funds. The retail funds were renamed to the Mercer Investment Funds.

The Mercer Investment Funds is a managed investment scheme with 23 investment funds on offer as listed below (and separated into investment categories).

Mercer Ethical Leaders Diversified Funds:

  • Mercer Ethical Leaders Conservative Fund
  • Mercer Ethical Leaders Balanced Fund
  • Mercer Ethical Leaders Growth Fund

Mercer Goals Based Funds:

  • Mercer Macquarie Real Return Opportunities Fund
  • Mercer Income Generator Fund

Mercer Cash and Fixed Interest Funds:

  • Mercer Macquarie NZ Cash Fund
  • Mercer Macquarie NZ Fixed Interest Fund
  • Mercer Macquarie NZ Short Duration Fund
  • Mercer Global Income Opportunities Fund

Mercer New Zealand and Australian Shares Funds:

  • Mercer NZ Shares Fund
  • Mercer Macquarie Australian Shares Fund
  • Mercer Ethical Leaders NZ Shares Fund

Mercer Global Shares Funds:

  • Mercer Global Shares Fund
  • Mercer Ethical Leaders Global Shares Fund
  • Mercer Core Global Shares Fund
  • Mercer Core Hedged Global Shares Fund
  • Mercer Emerging Markets Shares Fund

Mercer Property and Infrastructure Funds:

  • Mercer Macquarie Global Listed Real Estate Fund
  • Mercer Macquarie Global Listed Infrastructure Fund

Mercer Index Funds:

  • Mercer NZ Shares Passive Fund
  • Mercer Ethical Leaders Hedged Global Fixed Interest Index Fund
  • Mercer All Country Global Shares Index Fund
  • Mercer Australian Property Index Fund



From 11.59pm on 3 March 2023, Mercer also became the manager of Macquarie Asset Management Public Investments (NZ) Ltd’s (MAM) wholesale funds. The wholesale funds were renamed to the Mercer Wholesale Funds, and are open to wholesale investors only.

The Mercer Wholesale Funds are:

  • Wholesale Unit Trust Global Shares Fund 1
  • Wholesale Unit Trust Global Shares Fund 4
  • Mercer Global Index Shares Fund
  • Mercer Hedged Global Index Shares Fund



The Mercer Investment Trusts include both Diversified and Single Sector Portfolios. The Trusts enable investors to delegate some or all of their investment portfolio management to Mercer.

Each Portfolio comprises an optimal combination of highly rated, independent investment managers that are hand-picked by our Portfolio Management team.


Mercer’s Diversified Portfolios offer access to a range of multi-sector strategies to accommodate a variety of risk and return profiles. 
The Diversified Portfolios are built using the full range of our single sector building blocks to deliver superior risk-adjusted returns. Our Dynamic Asset Allocation overlay allows our Diversified Portfolios to flex in response to current market conditions, providing an additional source of return and risk reduction.

The Diversified Portfolios are:

  • Conservative
  • Moderate
  • Balanced
  • Growth
  • High Growth
  • Shares
  • Real Assets




Mercer’s range of Single Sector Portfolios offer a diverse range of asset class building blocks with which to construct a unique portfolio tailored to your needs and objectives. Alternatively, you can select the building block(s) you need to complete your existing investment strategy. 
The Single Sector Portfolios are:  

  • Trans-Tasman Shares
  • Overseas Shares (Hedged and Unhedged)
  • Overseas Shares Plus (Hedged and Unhedged)
  • Overseas Low Volatility
  • Overseas Small Companies
  • Emerging Markets

Real Assets

  • Unlisted Property
  • Unlisted Infrastructure
  • Listed Property
  • Listed Infrastructure
  • Natural Resources


  • Alternative Assets

Cash and fixed interest

  • New Zealand Sovereign Bonds
  • Overseas Sovereign Bonds
  • Global Credit
  • Overseas Fixed Income
  • Cash