Benefits of investing in the Mercer Growth Fund

The Fund brings together Mercer's investment beliefs, best ideas and global research to provide investors with access to:

• Diversification: the Fund has a multi-sector, multi-manager investment approach with approximately 73% in growth assets and 27% in defensive assets. The Fund is highly diversified, and can be combined with other Mercer Multi-Manager Funds, or other investments, to create a tailored portfolio. Diversification can smooth out market volatility and may help protect investments from loss.

• Active management: through in-depth local and global research, Mercer selects high quality investment managers to invest assets in each asset class or sector. More than one manager may be appointed in an asset class to provide diversification. The underlying investment manager panels may be configured to achieve exposure to a range of investment management styles, with the overall objective of producing consistent performance throughout market cycles.

• Dynamic asset allocation: we regularly review the Fund's asset allocation to look for opportunities that offer lower risk and/or higher return potential, considering valuations, macroeconomic developments and market sentiment. Any changes are made within the minimum and maximum ranges for each asset class. Assets within the Fund that have an exposure to foreign currencies may be fully or partially hedged, or unhedged. We may actively manage the hedged and unhedged currency exposure of the Fund.

• Operational efficiency: we aim to ensure you get the most value out of your investment by minimising unnecessary costs and avoiding unrewarded risks.
• Sustainability: we build sustainability principles into our funds to help protect and enhance the value of your investment. Environmental, social and governance (ESG) considerations, principles of active ownership and investment stewardship are incorporated throughout Mercer's investment decision making and ownership practices.

nvestor suitability

This Fund may be suitable for you if you:

• want to invest in a diverse mix of investments, with an orientation to growth assets;

• plan to invest for five years or more;

• are comfortable with the risks of the Fund.

Investment strategy

The Fund invests in a range of mainly growth oriented assets, including shares, real assets and alternatives. Diversification is achieved at the asset class, manager, country, sector and security levels, with a focus on operational efficiency and sustainability.

International assets held by the Fund may be fully hedged, partially hedged, or unhedged for fluctuations in the Australian dollar against other currencies.

Investment managers

Mercer selects investment managers for the Fund, drawing on our extensive research network to establish an optimal combination of specialist managers. Mercer's investment manager research focuses on each manager's strength in idea generation, portfolio construction, implementation and business management.

We manage and monitor the managers on your behalf. Therefore we may remove, replace, or appoint additional investment managers at our discretion at any time.

How we invest your money

Asset allocation

(Asset classes: Neutral / Minimum-Maximum)

• Australian shares: 27% / 15%-45%

• International shares: 28% / 15%-45%

• Property and infrastructure: 13% / 5%-30%

• Alternatives: 6% / 0%-15%

• Higher yielding fixed interest: 5% / 0%-15%

• Defensive fixed interest and cash: 21% / 10%-40%