mercer target drawdown2027 retirement fund · the graph below illustrates the performance of the...

Mercer Target Drawdown 2027 Retirement Fund

March 2019........................................................................................................................

Fund information(as at 31/03/2019)Launch date 22/10/2018Unit price 516.20pSEDOL BGN95R7ISIN Code GB00BGN95R71

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Fund holdingsFunds Target fund holdingsMercer Diversified Growth 50.00%BlackRock Aquila Connect CurrencyHedged World ex-UK Equity 30.47%

BlackRock Aquila Connect World Ex UKEquity 11.72%

BlackRock Aquila Connect UK Equity 4.69%

LGIM Pre-Retirement 3.12%‡Zurich is not a fund manager - the Zurich funds investin the underlying fund.

........................................................................................................................

Top holdingsBLACKROCK ASSET MANAGEMENT UKLTD AQUILA LIFE CUR HGD US EQTY IDXS1

19.43%

BLACKROCK ASSET MANAGEMENT UKLTD AQUILA LIFE CUR HGD EUROPN EQTYIDX S1

5.04%

BLACKROCK ASSET MANAGEMENT UKLTD AQUILA LIFE CUR HGD JAPAN EQTYIDX S1

2.85%

BLACKROCK ASSET MANAGEMENT UKLTD AQUILA LIFE CUR HGD PAC RIM EQTYIDX S1

1.99%

BLACKROCK ASSET MANAGEMENT UKLTD AQUILA LIFE CUR HGD CANADAEQTY IDX S1

0.99%

APPLE INC 0.27%

MICROSOFT CORP 0.27%

HSBC HOLDINGS PLC 0.26%

TREASURY 4.50% 2034 0.25%

BP PLC 0.23%

Fund objectiveThis fund is designed by Mercer Limited for investors planning to retire in 2027 andintending to enter drawdown and continue to invest their portfolio after retirement. Itinvests in one or more underlying funds to produce a portfolio with access to a range ofasset classes. The emphasis of the fund gradually changes over its lifetime to ultimatelyinvest around a quarter in money market securities and three quarters in a range ofassets aiming to provide moderate long-term capital growth. It invests in one or moreunderlying funds to produce a portfolio with around a third invested in UK and overseasshares, a substantial holding in government and corporate bonds and the remainderspread across other asset types giving exposure to other asset classes such ascommodities, property, infrastructure and money market instruments.

Fund featuresThis fund invests in assets which tend to produce a good level of return. Over the longerterm these assets should generate real growth. There will be fluctuations in value,particularly over shorter periods. Over time, the assets in which this fund invests willchange, so that more of the fund is invested in assets which tend to produce medium orlow levels of return, but with medium or lower risk. Derivatives may be used forinvestment purposes as well as risk reduction. The charges for this fund will change overtime to reflect the changes to the asset mix.

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Asset splitUS Equities 27.00%Global Developed Equities 9.85%Global Emerging Market Fixed Interest 7.35%Global Emerging Market Equities 6.00%Global High Yield Fixed Interest 5.50%Property 5.10%European Equities 5.06%International Equities 4.75%UK Equities 4.69%Hedge 4.60%International Small Cap Companies 4.50%Japanese Equities 3.96%Global Corporate Fixed Interest 2.08%Asia Pacific Equities 1.99%Others 7.57%

Sector splitFinancials 17.08%Information Technology 10.65%Health Care 10.34%Industrials 10.04%Consumer Discretionary 8.35%Consumer Staples 8.24%Energy 6.50%Communications 6.09%Materials 4.92%Utilities 4.81%Government Bonds - UK 4.61%Real Estate 2.66%Building & Construction 0.92%Consumer Services 0.87%Others 3.92%

This data is based on available data for the underlying Zurich pension fund(s) and targetfund holdings as shown.

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This fund factsheet is for information only and is written assuming you are familiar with investment terminology. It has been provided to help youunderstand how the fund is invested and performing. It should not be used for making investment decisions.

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Mercer Target Drawdown 2027 Retirement FundMarch 2019

Things you need to knowWe’ve based this information on our currentunderstanding of law and practice. We make everyeffort to ensure that this information is helpful,accurate and correct, but it may change or may notapply to your personal circumstances. All funds carrysome risk and you should consider these risks beforemaking an investment decision. Investment returns arenot guaranteed and the value can fluctuate.The main factors which may increase the risk of thisfund include:* The amount invested in company shares* The split between government and corporate bonds* The extent to which the fund invests in high yieldassets* The amount held in overseas assets* Any concentration in specific areas or sectors

Mercer Limited and/or Mercer Global Investments(Europe) Limited have been appointed by Zurich toprovide certain investment management services to thefund. The advisor to your pension scheme, MercerConsulting, is part of the same Group as MercerLimited and Mercer Global Investments (Europe)Limited and the Group will therefore benefit frominvestments in this fund.

There is not yet sufficient history for performance data to be shown for this fund.

Zurich Assurance Ltd, Registered in England and Wales under company No 02456671.

Registered Office: The Grange, Bishops Cleeve, Cheltenham, GL52 8XX.

EXAMPLE


March 2019........................................................................................................................

Fund information(as at 31/03/2019)Launch date 23/10/2017Unit price 523.90pSEDOL BYX8LP0ISIN Code GB00BYX8LP08

........................................................................................................................

Fund holdingsFunds Target fund holdingsMercer Diversified Growth 50.00%BlackRock Aquila Connect CurrencyHedged World ex-UK Equity 22.34%

BlackRock Aquila Connect Corporate BondAll Stocks 15.62%


BlackRock Aquila Connect UK Equity 3.44%‡Zurich is not a fund manager - the Zurich funds investin the underlying fund.

........................................................................................................................


14.25%


3.69%

BLACKROCK ASSET MANAGEMENT UKLTD AQUILA LIFE CUR HGD JAPAN EQTYIDX S1

2.09%

BLACKROCK ASSET MANAGEMENT UKLTD AQUILA LIFE CUR HGD PAC RIM EQTYIDX S1

1.46%

BLACKROCK ASSET MANAGEMENT UKLTD AQUILA LIFE CUR HGD CANADAEQTY IDX S1

0.73%

APPLE INC 0.20%

MICROSOFT CORP 0.20%

HSBC HOLDINGS PLC 0.19%

BP PLC 0.17%

AMAZON COM INC 0.16%



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Asset splitUS Equities 19.79%Global Developed Equities 9.85%Global Emerging Market Fixed Interest 7.35%UK Corporate Fixed Interest 7.21%Global Emerging Market Equities 6.00%Global High Yield Fixed Interest 5.50%Property 5.10%International Equities 4.75%Hedge 4.60%International Small Cap Companies 4.50%European Equities 3.71%UK Equities 3.44%Japanese Equities 2.90%US Corporate Fixed Interest 1.82%Others 13.48%

Sector splitFinancials 23.89%Industrials 19.16%Government Agency Bonds 9.29%Utilities 8.32%Information Technology 5.53%Health Care 5.03%Fixed Interest 4.63%Consumer Discretionary 4.30%Consumer Staples 4.27%Energy 3.36%Communications 3.15%Materials 2.53%Asset/Mortgage-Backed Securities 2.17%Mortgage & Secured Bonds 2.06%Others 2.31%


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EXAMPLE



All or some of the investments are made through areinsurance arrangement so if the linked life insurancecompany(ies) were to fail you may lose some or all ofyour money and this will not be covered by theFinancial Services Compensation Scheme.


Cumulative performance (as at 31/03/2019)

3 months 6 months 1 year 3 years 5 years.................................................................................................................................................................................................

Fund 7.85% 0.13% 8.43% - -.................................................................................................................................................................................................

Discrete performance (as at 31/03/2019)

31/03/2014 -31/03/2015

31/03/2015 -31/03/2016

31/03/2016 -31/03/2017

31/03/2017 -31/03/2018

31/03/2018 -31/03/2019

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Fund - - - - 8.43%.................................................................................................................................................................................................

Fund vs Benchmark

The graph below illustrates the performance of the fund from launch up until01/04/2019. The fund is designed to provide a return in line with the benchmark. This isexpected to be the case over the long term. However, there may be times when the fundperformance does not match the benchmark. This may be due to a number of reasons.For example, cash flows in and out of the fund resulting in unit price movements andslight timing differences for the period over which performance is measured.

-6%

-4%

-2%

0%

2%

4%

6%

8%

Oct 17 Dec Feb 18 Apr Jun Aug Oct Dec Feb 19

20/10/2017 - 01/04/2019 © Financial Express Holdings 2019

Fund

Source: Financial Express as at 01/04/2019. You shouldn’t use past performance as asuggestion of future performance. It shouldn’t be the main or sole reason for making aninvestment decision. The value of investments and any income from them can fall as wellas rise and will be reduced in real terms by the effects of inflation. You may not get backthe amount you invested. HM Revenue and Customs (HMRC) practice and law arecomplex. Tax concessions are not guaranteed, their value will depend on individualcircumstances and may change in the future.

Fund performance data is based on a unit price basis and doesn't take into account feesand expenses which are specific to individual plans.



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March 2019........................................................................................................................

Fund information(as at 31/03/2019)Launch date 28/11/2016Unit price 587.10pSEDOL BD0DVJ5ISIN Code GB00BD0DVJ59

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Fund holdingsFunds Target fund holdingsMercer Diversified Growth 50.00%

Mercer Diversified Retirement 28.12%BlackRock Aquila Connect CurrencyHedged World ex-UK Equity 14.22%



........................................................................................................................


9.07%

ILIM MSCI WORLD MIN VOL INDEX 3.40%MERCER ABSOLUTE RETURN FIXEDINCOME FUND 2.93%


2.35%

MERCER GLOBAL HIGH YIELD BOND FUND- Z-1 GBP HEDGED 2.11%

MERCER PASSIVE GLOBAL EQUITIES 2.00%BERESFORD FUNDS PLC - INDEXEDEMERGING MARKET DEBT FUND (ILIM) -CLASS D EUR

1.81%

MERCER PASSIVE GLOBAL EQUITY UCITSM2 GBP HEDGED 1.42%

BLACKROCK UK INDEX FUND 1.39%MERCER GLOBAL BUY & MAINTAINCREDIT FUND – Z-2 GBP HEDGED 1.39%



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Asset splitOther International Equities 26.45%Global Fixed Interest 20.30%North American Equities 13.25%Global Emerging Market Equities 7.15%Property 6.17%UK Equities 3.60%European Equities 3.26%Others 19.82%


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Fund 7.09% 0.82% 8.38% - -.................................................................................................................................................................................................


31/03/2014 -31/03/2015

31/03/2015 -31/03/2016

31/03/2016 -31/03/2017

31/03/2017 -31/03/2018

31/03/2018 -31/03/2019

.................................................................................................................................................................................................

Fund - - - 1.96% 8.38%.................................................................................................................................................................................................

Fund vs Benchmark


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March 2019........................................................................................................................

Fund information(as at 31/03/2019)Launch date 16/11/2015Unit price 710.90pSEDOL BYTRP48MexID ADZYSISIN Code GB00BYTRP487

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Fund holdingsFunds Target fund holdingsMercer Diversified Growth 50.00%

Mercer Diversified Retirement 40.62%BlackRock Aquila Connect CurrencyHedged World ex-UK Equity 6.09%



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Top holdingsILIM MSCI WORLD MIN VOL INDEX 4.91%MERCER ABSOLUTE RETURN FIXEDINCOME FUND 4.23%

BLACKROCK ASSET MANAGEMENT UKLTD AQUILA LIFE CUR HGD US EQTY IDXS1

3.88%



2.62%



MERCER INFLATION LINKED BONDS 1.85%

Fund objectiveThis fund is designed by Mercer Limited for investors planning to retire in 2024 andintending to enter drawdown and continue to invest their portfolio after retirement. Itinvests in one or more underlying funds to produce a portfolio with access to a range ofasset classes. The emphasis of the fund gradually changes over its lifetime to ultimatelyinvest around a quarter in money market securities and three quarters in a range ofassets aiming to provide moderate long-term capital growth. It invests in one or moreunderlying funds to produce a portfolio with around a third invested in UK and overseasshares, a substantial holding in government and corporate bonds and the remainderspread across other asset types giving exposure to other asset classes such ascommodities, property, infrastructure and money market instruments. At the end of2024, investors in this fund will be automatically switched into the Zurich MercerDrawdown Retirement Fund to maintain a similar asset split over time. Derivatives may beused for investment purposes as well as risk reduction.

Fund featuresThis fund invests in assets which tend to produce moderate and stable returns. Over thelonger term these assets should generate growth, with some fluctuation in value. Overtime, the assets in which this fund invests will change, so that more of the fund isinvested in assets which tend to produce medium or low levels of return, but withmedium or lower risk.

The charges for this fund will change over time to reflect the changes to the asset mix.

............................................................................................................................................................................................

Asset splitGlobal Emerging Market Fixed Interest 10.77%Global Developed Equities 9.85%International Equities 9.67%Hedge 8.82%Global High Yield Fixed Interest 8.55%Global Emerging Market Equities 7.67%US Equities 5.40%International Large Cap Companies 5.24%Property 5.10%International Small Cap Companies 4.91%Money Market 4.14%UK Large Cap Companies 2.03%Global Short Maturity Fixed Interest 1.99%UK Index-Linked 1.87%Others 13.99%


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EXAMPLE







Fund 6.32% 1.50% 8.30% 35.80% -.................................................................................................................................................................................................


31/03/2014 -31/03/2015

31/03/2015 -31/03/2016

31/03/2016 -31/03/2017

31/03/2017 -31/03/2018

31/03/2018 -31/03/2019

.................................................................................................................................................................................................

Fund - - 23.81% 1.27% 8.30%.................................................................................................................................................................................................

Annualised performance (as at 31/03/2019)

3 years 5 years 10 years.................................................................................................................................................................................................

Fund 10.74% - -.................................................................................................................................................................................................

Fund vs Benchmark


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Fund





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March 2019........................................................................................................................

Fund information(as at 31/03/2019)Launch date 01/12/2014Unit price 661.40pSEDOL BS7JDK6MexID ADAAMOISIN Code GB00BS7JDK61

........................................................................................................................

Fund holdingsFunds Target fund holdingsMercer Diversified Retirement 53.12%

Mercer Diversified Growth 46.88%‡Zurich is not a fund manager - the Zurich funds investin the underlying fund.

........................................................................................................................




3.43%



MERCER INFLATION LINKED BONDS 2.42%MERCER PASSIVE EMERGING MARKETSEQUITY FUND 2.16%


Fund featuresThis fund invests in assets which tend to produce a good level of return. Over the longerterm these assets should generate real growth. There will be fluctuations in value,particularly over shorter periods. Over time, the assets in which this fund invests willchange, so that more of the fund is invested in assets which tend to produce medium orlow levels of return, but with medium or lower risk.


............................................................................................................................................................................................

Asset splitUK Equities 18.75%North American Equities 13.60%Developed Markets Equity 13.50%Global High Yield 6.90%Global Small Cap Equity 5.50%Global Property 5.50%Emerging Markets Debt 5.50%Global Corporate Bonds 4.50%Emerging Markets Equity 4.50%Other 21.75%


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EXAMPLE







Fund 5.56% 2.17% 8.20% 33.94% -.................................................................................................................................................................................................


31/03/2014 -31/03/2015

31/03/2015 -31/03/2016

31/03/2016 -31/03/2017

31/03/2017 -31/03/2018

31/03/2018 -31/03/2019

.................................................................................................................................................................................................

Fund - -0.22% 23.06% 0.59% 8.20%.................................................................................................................................................................................................



Fund 10.23% - -.................................................................................................................................................................................................

Fund vs Benchmark


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Dec 14 Apr 15 Aug Dec Apr 16 Aug Dec Apr 17 Aug Dec Apr 18 Aug Dec


Fund





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March 2019........................................................................................................................

Fund information(as at 31/03/2019)Launch date 01/12/2014Unit price 654.30pSEDOL BS7JDH3MexID ADAAMMISIN Code GB00BS7JDH33

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Mercer Diversified Growth 34.38%BlackRock ICS Institutional SterlingLiquidity 1.99%

‡Zurich is not a fund manager - the Zurich funds investin the underlying fund.

........................................................................................................................




4.10%







............................................................................................................................................................................................

Asset splitDeveloped Markets Equity 13.50%UK Equities 12.50%North American Equities 9.59%Global High Yield 8.03%Emerging Markets Debt 5.50%Global Property 5.50%Global Small Cap Equity 5.50%Emerging Markets Equity 4.50%Global Corporate Bonds 4.50%Other 30.88%


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EXAMPLE







Fund 5.40% 2.46% 7.88% 31.68% -.................................................................................................................................................................................................


31/03/2014 -31/03/2015

31/03/2015 -31/03/2016

31/03/2016 -31/03/2017

31/03/2017 -31/03/2018

31/03/2018 -31/03/2019

.................................................................................................................................................................................................

Fund - 0.26% 22.25% -0.15% 7.88%.................................................................................................................................................................................................



Fund 9.61% - -.................................................................................................................................................................................................

Fund vs Benchmark


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Fund





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March 2019........................................................................................................................

Fund information(as at 31/03/2019)Launch date 01/12/2014Unit price 649.00pSEDOL BS7JDF1MexID ADAAMKISIN Code GB00BS7JDF19

........................................................................................................................


Mercer Diversified Growth 21.88%BlackRock ICS Institutional SterlingLiquidity 9.99%

‡Zurich is not a fund manager - the Zurich funds investin the underlying fund.

........................................................................................................................




4.39%







............................................................................................................................................................................................

Asset splitDeveloped Markets Equity 13.50%Global High Yield 9.15%UK Equities 6.25%Large Cap Global Equity 5.60%North American Equities 5.60%Emerging Markets Debt 5.50%Global Property 5.50%Global Small Cap Equity 5.50%Absolute Return Fixed Income 5.30%Other 38.10%


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EXAMPLE







Fund 4.89% 2.34% 7.22% 29.85% -.................................................................................................................................................................................................


31/03/2014 -31/03/2015

31/03/2015 -31/03/2016

31/03/2016 -31/03/2017

31/03/2017 -31/03/2018

31/03/2018 -31/03/2019

.................................................................................................................................................................................................

Fund - 0.70% 21.48% -0.31% 7.22%.................................................................................................................................................................................................



Fund 9.10% - -.................................................................................................................................................................................................

Fund vs Benchmark


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March 2019........................................................................................................................

Fund information(as at 31/03/2019)Launch date 01/12/2014Unit price 646.40pSEDOL BS7JDC8MexID ADAAMIISIN Code GB00BS7JDC87

........................................................................................................................

Fund holdingsFunds Target fund holdingsMercer Diversified Retirement 72.38%BlackRock ICS Institutional SterlingLiquidity 18.24%

Mercer Diversified Growth 9.38%‡Zurich is not a fund manager - the Zurich funds investin the underlying fund.

........................................................................................................................




4.67%





Fund featuresThis fund invests in assets which tend to produce moderate and stable returns. Over thelonger term these assets should generate growth, with some fluctuation in value. Overtime, the assets in which this fund invests will change, so that more of the fund isinvested in assets which tend to produce medium or low levels of return, but withmedium or lower risk.


............................................................................................................................................................................................

Asset splitMoney Market 24.25%International Equities 9.65%International Large Cap Companies 9.34%Hedge 8.39%Global Emerging Market Fixed Interest 7.46%Global High Yield Fixed Interest 6.46%Global Emerging Market Equities 4.09%UK Large Cap Companies 3.62%Global Short Maturity Fixed Interest 3.55%UK Index-Linked 3.33%Global Investment Grade Fixed Interest 2.82%International Property 2.75%Global Developed Equities 1.85%UK Gilts 1.81%Others 10.63%


............................................................................................................................................................................................


EXAMPLE







Fund 4.36% 2.24% 6.40% 28.39% -.................................................................................................................................................................................................


31/03/2014 -31/03/2015

31/03/2015 -31/03/2016

31/03/2016 -31/03/2017

31/03/2017 -31/03/2018

31/03/2018 -31/03/2019

.................................................................................................................................................................................................

Fund - 1.26% 20.81% -0.11% 6.40%.................................................................................................................................................................................................



Fund 8.69% - -.................................................................................................................................................................................................

Fund vs Benchmark


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Mercer DrawdownRetirement Fund

March 2019........................................................................................................................

Fund information(as at 31/03/2019)Launch date 01/12/2014Unit price 595.90pSEDOL BS7JDM8MexID ADAAMQISIN Code GB00BS7JDM85

Benchmark†75% FTSE 1-Month UK Sterling Eurodeposit25% 7 Day Sterling LIBID

†This is the benchmark that has been selected to com-pare the performance of the fund.

........................................................................................................................


BlackRock ICS Sterling Liquidity 25.00%‡Zurich is not a fund manager - the Zurich funds investin the underlying fund.

........................................................................................................................




4.84%




Fund objectiveThis fund is designed by Mercer Limited for investors planning to retire and thenintending to enter drawdown and continue to invest their portfolio after retirement. Itinvests in one or more underlying funds to produce a portfolio with around a quarterinvested in UK and overseas shares, a substantial holding in government and corporatebonds and the remainder spread across other asset types giving exposure to other assetclasses such as commodities, property, infrastructure and money market instruments.These assets aim to provide moderate long-term capital growth.

Fund featuresThis fund invests in assets which tend to produce moderate and stable returns. Over thelonger term these assets should generate growth, with some fluctuation in value.

............................................................................................................................................................................................


EXAMPLE

Mercer DrawdownRetirement FundMarch 2019






Fund 3.88% 2.26% 5.25% 18.65% -.................................................................................................................................................................................................

Benchmark 0.17% 0.38% 0.66% 1.29% 2.17%.................................................................................................................................................................................................


31/03/2014 -31/03/2015

31/03/2015 -31/03/2016

31/03/2016 -31/03/2017

31/03/2017 -31/03/2018

31/03/2018 -31/03/2019

.................................................................................................................................................................................................

Fund - 0.82% 12.73% 0.00% 5.25%.................................................................................................................................................................................................

Benchmark 0.40% 0.47% 0.31% 0.31% 0.66%.................................................................................................................................................................................................



Fund 5.86% - -.................................................................................................................................................................................................

Benchmark 0.43% 0.43% 0.44%.................................................................................................................................................................................................

Fund vs Benchmark


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FundBenchmark





EXAMPLE

mercer target drawdown2027 retirement fund · the graph below illustrates the performance of the...

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