Mercer Non-US Core Equity Fund
Mercer Funds · 4 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
Mercer Non-US Core Equity Fund is an actively managed developed international equity fund.
- Asset class
- Equity
- Region
- Developed international
- Management
- Actively managed
- Fund type
- Open-end fund
Fund profile
As filed in the prospectus · 2025 Q3
The investment objective of the Fund is to provide long-term total return, which includes capital appreciation and income.
The fund invests at least 80% of assets in equity securities of non-U.S. companies across developed and emerging markets, using a core strategy that blends growth and value approaches. Day-to-day management is delegated to subadvisers, some of whom employ quantitative processes that may result in higher portfolio turnover. The fund may also use derivatives such as forward contracts and equity futures to adjust market or currency exposure.
| Share class | Gross | Net |
|---|---|---|
| MNCDX | 1.25% | 0.87% |
| MNCSX | 1.00% | 0.62% |
| MNCYX | 0.90% | 0.52% |
| MNCEX | 0.75% | 0.37% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 57.00% · as of 2025 Q3
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 96.90% |
| Cash & short-term | 1.34% |
| Other | 0.00% |
Look-through blends 2 underlying funds; 0.101% of NAV was not looked through and stays direct-classified.
Latest quarter
What changed since the fund's previous filing
Largest new: STMicroelectronics NV, SK Square Co Ltd, Willis Towers Watson PLC, Cameco Corp, Hitachi Ltd, Gaztransport Et Technigaz SA, TechnipFMC PLC, Nokia Oyj
Largest exited: Iberdrola SA, TC Energy Corp, Fujikura Ltd, Allianz SE, Knorr-Bremse AG, Ferrari NV, Atlas Copco AB, BAE Systems PLC
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +28.21% | +65.99% | — | 14.38% | -9.37% | |
| +28.51% | +67.28% | +61.01% | 14.41% | -9.33% |
These classes hold the same portfolio, so the 1.29pp spread over 3 years is the cost difference between them — roughly 0.43pp a year — not a difference in what they own.
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| — | ASML Holding NV | 2.51% | $1,984.42 | $120.29M | 60.6K |
| — | Kioxia Holdings Corp | 1.40% | $567.99 | $66.97M | 117.9K |
| — | State Street Global Advisors | 1.34% | — | $63.92M | — |
| — | UniCredit SpA | 1.12% | $89.52 | $53.61M | 598.8K |
| TSM | Taiwan Semiconductor Manufacturing Co LtdTSM | 1.10% | $477.57 | $52.54M | 110.0K |
| — | TotalEnergies SE | 1.05% | $77.73 | $50.06M | 644.0K |
| — | Roche Holding AG | 0.98% | $412.31 | $47.10M | 114.2K |
| — | Sandoz Group AG | 0.93% | $90.52 | $44.41M | 490.6K |
| — | UBS Group AG | 0.91% | $49.62 | $43.38M | 874.2K |
| — | Legrand SA | 0.89% | $168.90 | $42.32M | 250.6K |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
Top 10 positions are 12.22% of net assets, top 25 22.80%, across 1.0K issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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