Mercer Short Duration Fixed Income Fund Class Y-3 · NASDAQ:MSDYX
Mercer Short Duration Fixed Income Fund Class Y-3 — Mercer US Small/Mid Cap Equity Fund — Investor Presentation (June 2026)
29 slides from Mercer Short Duration Fixed Income Fund Class Y-3's investor presentation, Jun 30, 2026
Slide 1: Mercer US Small/Mid Cap Equity Fund
As of June 30, 2026 Mercer US Small/Mid Cap 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 in
Slide 2: Agenda
1. Mercer U.S. Investments Update 2. US Small/Mid Cap Equity Fund Design Process & Performance 3. Sub-Advisor Fund Performance and Positioning 4. Sub-Advisor Investment Summary 5. Investment Team Biographies
Slide 3: Mercer U.S. Investments Update
Mercer U.S. Investments Update
Slide 4: Office Of The CIO
Office Of The CIO Advisory & OCIO Andrew McDougall US Chief Investment Officer Equity Portfolio Management Fixed Income Portfolio Management Manager Research Senior Portfolio Manager Senior Portfolio Manager Portfolio Manager Portfolio Manager Global Research Team Larry Vasquez Sean Chatburn Matt Pa
Slide 5: SMID Cap Equity Fund Design Process & Performance
SMID Cap 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: Public Equities: Regional Breakdown
>$100T Global Market Cap US Equity (c.63% ACWI IMI) Public Equities: c.8,200 US Large Cap US Small Cap • Highly concentrated by sector (IT c.30%) • Diversified by sector (no sector >20%) Regional Breakdown Constituents • Highly concentrated by stock (top 5 >30%; ) • Highly efficient in price discove
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 • 6,967 managers Global sourcing / gather data (MercerInsight ) • 32,090 strategies Manager / product reviews | Formal meetings • 11,368 strategies are rated | Internal pipeline / watch list • 58% of rated strategies are A, B+, or B Prioritise candi
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 US Small/Mid Cap Equity Fund Overview and Performance
Mercer US Small/Mid Cap Equity Fund Overview and Performance Net Periodic Performance (%) As of June 30, 2026 Investment Objective: The investment objective of the Fund Year-to- Inception 3 Month 1 Year 3 Year 5 Year 10 Year Inception is to provide long-term total return, comprised primarily of Date
Slide 12: Fund and Subadvisor Performance and Positioning
Fund and Subadvisor Performance and Positioning
Slide 13: Mercer US Small/Mid Cap Equity Fund & Subadvisors
Mercer US Small/Mid Cap Equity Fund & Subadvisors As of June 30, 2026 Market Value ($M) QTD YTD 1 yr 3 yr 5 yr 10 yr SI SI Date US Small/Mid Cap Equity – Gross 1,890 16.65% 18.47% 27.31% 15.90% 8.37% 12.27% 9.87% Gross / Class US Small/Mid Cap Equity Fund Class Y3 – Net 1,890 16.52% 18.20% 26.71% 1
Slide 14: Mercer US Small/Mid Cap Equity Fund Fundamentals
Mercer US Small/Mid Cap Equity Fund Fundamentals As of June 30, 2026 Fundamentals Market Cap Distribution Top 10 Active Weight Holdings Mercer Russell 2500 Mercer Russell 2500 Mercer Russell Active Security Name Fund Index Fund Index Fund 2500 Index Weight COMFORT SYSTEMS USA INC 1.3% 0.0% 1.3% P/E
Slide 15: US Small/Mid Cap Equity Fund Subadvisors
US Small/Mid Cap Equity Fund 5 Subadvisors (Current) GW&K 1 SMID Growth 3 Loomis LSV Hire BNY Mellon River Road and SMID Value Terminate: NWQ Westfield Funds Merge (2/5/18) Parametric (6/24/16) 2016 2018 2019 2024 2 4 Hire: River Road Subadvisors (6/24/16) Terminate: BNY Mellon GW&K (4/19/19) Loomis
Slide 16: Sub-Advisor Investment Summary
Sub-Advisor Investment Summary
Slide 17: Manager Allocations
Manager Allocations Mercer US Small/Mid Cap Equity Fund Parametric, 3.0% River Subadvisor detail as of 6/30/26 Road, 11.7% LSV, Loomis, 26.1% 11.5% Investment Objective: The investment objective of the Fund is to provide long-term total return, comprised primarily of capital appreciation. Westfield,
Slide 18: Manager Implementation Expectations
Manager Implementation Expectations Manager Summary Guidelines Quantitative investment approach that owns 200 to 225 stocks. Max stock positions are 5% at market. Sector LSV allocations are held to within 8% versus the benchmark. Turnover ranges from 20% to 30% annually. Fundamental, bottom-up inves
Slide 19: Investment Team Biographies
Investment Team Biographies
Slide 20: Sean Chatburn
Sean Chatburn Sean Chatburn is a Partner and Senior Portfolio Manager for equities. Based in Chicago, Sean assists plan sponsors, endowments, foundations, and sovereigns in meeting their investment goals and objectives. Sean is a member of the firm’s US investment committee, US manager selection com
Slide 21: Ryan Wan
Ryan Wan Ryan Wan is an Investment Analyst within Mercer’s US Investments group, focusing on Equities. As a member of the Portfolio Management team Ryan works on supporting manager selection and portfolio construction for Mercer's OCIO clients across the non-retirement segment. Prior to joining Merc
Slide 22: Appendix
Appendix
Slide 23: Mercer US Small/Mid Cap Equity - Attribution
Mercer US Small/Mid Cap Equity - Attribution US Small/Mid Cap Equity Y3 vs. Russell 2500 Index (Net) Source: Investment Metrics © 2026 Marsh. All rights reserved. 23 Investment Metrics holdings are as of beginning of the month. Attribution is run with the average holdings over the three-month period
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 Index Disclosure The indices listed are not managed and one cannot invest directly in an index. The Russell 2500 Index measures the performance of the small to mid-cap segment of the US equity universe, commonly referred to as “smid” cap. Russell Investment Group is the source and
Slide 27: 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 28: 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 29: 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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