Mercer Emerging Markets Equity Fund registers class Y shares series

By Jennifer Chiou

New York, Dec. 30 - Mercer Funds (formerly MGI Funds) announced an offering of class Y-l, class Y-2 and class Y-3 shares from the Mercer Emerging Markets Equity Fund in an N-1A filing with the Securities and Exchange Commission.

The fund will seek long-term total return by investing at least 80% of its net assets, plus the amount of any borrowings, in equity securities of companies that are located in emerging markets, other investments that are tied economically to emerging markets, as well as in American, European and Global Depositary Receipts, the filing stated.

Mercer added that the fund invests in large, medium and small capitalization companies, with securities denominated primarily in foreign currencies and typically held outside the United States.

There is a 2% redemption fee for shares owned for fewer than 30 days. Management fees for each of the three series amount to 0.8% across the board. Including 12b-1 fees, acquired fund fees and other expenses, the total annual fund operating expenses are expected to be 1.55% for class Y-1 shares, 1.25% for class Y-2 shares and 0.95% for class Y-3 shares.

The company noted that emerging market countries include all countries represented by the MSCI Emerging Markets Index.

Boston-based Mercer Investment Management, Inc. is the fund's investment adviser.

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