Mercer Non-US Core Equity Fund Class I · NASDAQ:MNCSX
Mercer Non-US Core Equity Fund Class I — Investor Presentation (April 2025)
28 slides from Mercer Non-US Core Equity Fund Class I's investor presentation, April 2025
Slide 1: Mercer Non-US Core Equity Fund
welcome to brighter Mercer Non-US Core Equity Fund Investment management and advisory services to be provided by Mercer Investments LLC. Mercer Investments LLC is one of several associated legal entities that provide investments services to clients as part of a global investment advisory and investm
Slide 2: Agenda
1. Mercer Investments U.S. OCIO Update 2. Non-US Core Equity Fund Design Process & Performance 3. Sub-Advisor Fund Performance and Positioning 4. Sub-Advisor Investment Summary 5. Investment Team Biographies Agenda
Slide 3: Mercer Investments U.S. OCIO Update
Mercer Investments U.S. OCIO Update
Slide 4: Your Portfolio Management Team
Your Portfolio Management Team Olaolu Aganga US Chief Investment Officer Equity Portfolio Management Portfolio Design, Analytics, & Risk (PDAR) Manager Research Senior Portfolio Manager Senior Portfolio Manager Head of PDAR Global Research Team 200+ Research Specialists Larry Vasquez Sean Chatburn T
Slide 5: Non-US Core Equity Fund Design Process & Performance
Non-US Core Equity Fund Design Process & Performance
Slide 6: Multi-Manager Equity Fund Investment Process
Multi-Manager Equity Fund Investment Process Understanding the Market Evidence Based Investing Assess Manager Potential Construction and Monitoring Each market is unique with various We apply this understanding to Our team leverages Mercer’s 200+ The markets are not stable, and drivers of returns. A
Slide 7: Understanding the Market
>$80T Global Understanding the Market Cap US Equity (c.65% ACWI IMI) c.8,500 US Large Cap US Small Cap Market Constituents • Highly concentrated, by sector (IT c.30%) and stock (top 5 >30%) • Diversified by sector (no sector >20%) • Inefficient market, lower price discovery • Highly efficient in pri
Slide 8: Evidence Based Investing: Understanding Factor Related Performance Drivers
Evidence Based Investing: Understanding Factor Related Performance Drivers Guiding principles: We believe the most effective way to capture consistent alpha in custom multi-manager portfolios is to build them with diverse alpha sources, purposeful attention to factor exposures that lead to better di
Slide 9: Assess Manager Potential: Manager Research Process
Assess Manager Potential: Manager Research Process Global sourcing / Worldwide due Gather data Prioritize candidates Ratings = Candidates diligence (MercerInsight®) • Manager/product reviews • Review of MercerInsight® entry • Idea generation • Lead Research Committee (LRC) • Formal meetings • Previo
Slide 10: Construction and Monitoring
Construction and Monitoring Performance Characteristics Style analytics Barra risk analytics Monitoring • Trading, compliance and performance updates • Quarterly manager calls/meetings with direct access to investment team • Mercer manager research onsite review schedule • Market cycle informs on ri
Slide 11: Mercer Non-US Core Equity Fund Overview and Performance
Mercer Non-US Core Equity Fund Overview and Performance Investment Objective: The investment objective of the Fund Periodic Performance (%) As of December 31, 2024 is to provide long-term total return, which includes capital 3 Month Year-to-Date 1 Year 3 Year 5 Year 10 Year Inception appreciation an
Slide 12: Portfolio Characteristics and Exposures
Mercer Non-US Core Equity Fund Portfolio Characteristics and Exposures Region Allocations Sector Allocations Portfolio Characteristics Fund Benchmark Wtd Avg Mkt Cap ($M) 68,244 87,444 Utilities Europe Communication Services P/E 12.0 13.4 Information Technology P/B 1.7 2.0 Real Estate Pacific Financ
Slide 13: Fund and Subadvisor Performance and Positioning
Fund and Subadvisor Performance and Positioning
Slide 14: Mercer Non-US Core Equity Fund & Subadviser Performance
Mercer Non-US Core Equity Fund & Subadviser Performance As of December 31, 2024 Fund/Strategy Market Value ($M) QTD YTD 1 yr 3 yr 5 yr 10 yr SI SI Date Non-US Equity – Gross 3,607 -6.98% 6.70% 6.70% 2.04% 6.24% 7.23% 5.18% Gross / Class Non-US Equity Fund Class Y3 – Net 3,317 -7.07% 6.30% 6.30% 1.6
Slide 15: Mercer Non-US Core Equity Fund Fundamentals
Mercer Non-US Core Equity Fund Fundamentals As of December 31, 2024 Fundamentals Regional Exposure Top 10 Active Weight Holdings Active MSCI Region Current EAFE Active Security Name Port Weight EAFE Weight Non-US EAFE CRH PLC 0.9% 0.0% 0.9% P/E 11.97 13.39 Euro 59.2% 65.2% -6.0% BARCLAYS PLC 1.2% 0.
Slide 16: Non-U.S. Core Equity Fund - Historical Manager Allocations
Non-U.S. Core Equity Fund - Historical Manager Allocations Non-U.S. Equity - Historical Manager Allocations 100% EM (Lazard & WB) 90% American Century 80% MSIM/Invesco/Echo Point 70% 60% Arrowstreet 50% GMO 40% 30% MFS 20% 10% Bernstein Lingohr LSV 0% 1/1/2012 1/1/2015 1/1/2018 1/1/2021 9/1/2006 1/1
Slide 17: Sub-Advisor Investment Summary
Sub-Advisor Investment Summary
Slide 18: Manager Allocations and Style Bias
Manager Allocations and Style Bias 2.5% Parametric Mercer Non-US Core Equity Fund 16.0% American 32.0% Subadvisor detail as of 12/31/24 Century Arrowstreet Investment Objective: The investment objective of the Fund MFS is to provide long-term total return, which includes capital 22.0% LSV appreciati
Slide 19: Manager Implementation Expectations
Manager Implementation Expectations Manager Summary Guidelines 400 to 800 stocks with turnover range of 100-150%. Active sector and country Arrowstreet constraints are around +/- 10% and country/sector (basket) constraints at +/- 5% around the index. Max stock positions range +/- 3% around the index
Slide 20: Investment Team Biographies
Investment Team Biographies
Slide 21: Larry Vasquez
Larry Vasquez Larry Vasquez is a Senior Portfolio Manager and Partner at Mercer Investment Management overseeing equities and DC multi-asset solutions. His primary responsibilities include asset allocation, manager selection, portfolio construction, and ongoing oversight of Defined Contribution cust
Slide 22: Travis Simon
Travis Simon Travis Simon leads the Portfolio Design, Analytics & Risk team and is based in Minneapolis. In this role, he works to develop and enhance portfolio construction and management across the investment platform. He is a member of the US Asset Allocation and Manager Selection Committees and
Slide 23: Joseph McKenzie
Joseph McKenzie Joseph McKenzie is an Investment Analyst for the Equity Portfolio Management Team, joining the team in 2024. He joined Mercer in 2022 and is based out of the Boston office. Prior to joining the Equity Portfolio Management Team, he was an Investment Consultant, covering a variety of i
Slide 24: Important Notices
Important Notices Must be preceded or accompanied by fund's prospectus. Investors should carefully consider the fund's investment objectives, risks, charges and expenses before investing. To obtain a prospectus that contains this and other information, please visit https://www.delegated-solutions.me
Slide 25: Important Notices
Important Notices Risks Factors The Fund invests in both growth stocks and value stocks. Growth stocks may be particularly sensitive to market conditions. Investing in value stocks involves the risk that an investment made in undervalued securities may not appreciate in value as anticipated or remai
Slide 26: Important Notices
Important Notices Mercer universes Mercer’s universes are intended to provide collective samples of strategies that best allow for robust peer group comparisons over a chosen timeframe. Mercer does not assert that the peer groups are wholly representative of and applicable to all strategies availabl
Slide 27: Important Notices
Important Notices Measurement methodology For most investment strategies that we research, we arrive at a rating on a four tier scale in which the possible ratings are A, B+, B and C. When we formulate short lists of candidates for clients to consider in manager searches, these are generally drawn f
Slide 28: Important Notices
Important Notices Some important caveats All of the value added figures have been calculated by Mercer, but are based upon performance data provided to Mercer by the investment managers concerned. Mercer generally does not independently verify the performance information provided by investment manag
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