Fund-vs-fund · International Equities
Mercer Core Global Shares Fund vs Pathfinder Global Responsibility Fund
Both are International Equities funds available to NZ retail investors. Numbers below are sourced from the FMA Disclose register via Sorted Smart Investor and reflect the latest published quarterly fund updates.
What's different at a glance
- Mercer Core Global Shares Fund charges 0.06% lower in annual fund charges (1.24% vs 1.30%).
- Both are New Zealand PIE funds — investor tax is capped at the Prescribed Investor Rate (PIR), maximum 28%.
- Pathfinder Global Responsibility Fund applies responsible-investment / ESG screening. The other fund does not.
Where each fund sits in its cohort
Percentile rank vs all 81 international equities funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
Mercer
1.24%
Highest 19% of cohort
Pathfinder
1.30%
Highest 15% of cohort
5-year return p.a.
Past performance — not a predictor
Mercer
13.93%
Top 6% over 5 years
Pathfinder
4.97%
Bottom 21% over 5 years
Fund size
Larger = more stable, lower close-risk
Mercer
NZ$61m
Lower half by size
Pathfinder
NZ$64m
Lower half by size
| Metric | Mercer | Pathfinder | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 1.24% | 1.30% | Lower is better |
| Risk indicator (1–7) | 5 | 5 | Higher = more volatility |
| 5-year return p.a. | 13.93% | 4.97% | Higher is better (past not future) |
| Fund size | NZ$61m | NZ$64m | Larger = more stable, lower close-risk |
| Growth / income split | 98% / 2% | 98% / 2% | More growth = higher long-run return + volatility |
| NZ tax structure | PIE (PIR-capped) | PIE (PIR-capped) | PIE = simpler. FIF = annual return. |
| Currency hedging | — | — | Hedged smooths NZD/foreign FX moves at a small cost. |
| Responsible investment screening | No | Yes | Specific exclusions live in each fund's SIPO. |
| Available via | Direct | Direct | Platforms accepting retail subscriptions. |
Portfolio overlap
How many top-10 positions both funds hold, and at what weight. Computed from each fund's most recently disclosed top-10 holdings — exact-name matched (Microsoft Corp. = Microsoft Corporation), with a Cash / Cash & Equivalents collapse rule.
0 overlapping top-10 holdings. The two funds disclose disjoint top-10 sets — useful diversification signal if you held both.
What each fund says it does
Mercer
Mercer Core Global Shares Fund
The fund invests in shares listed on share markets predominately in developed economies. The portfolio uses multiple managers and is diversified by region, manager and investment approaches. Environmental, Social and Governance characteristics are integrated into the underlying investment managers’ investment processes. The fund aims to provide a Gross Return above the return of the MSCI World Index with net dividends reinvested (in NZD) on a rolling three-year basis.Full Mercer Mercer Core Global Shares Fund profile →
Pathfinder
Pathfinder Global Responsibility Fund
The Fund invests in companies connected to water quality, accessibility or sustainability1 that satisfy Pathfinder’s ethical investment criteria. The Fund’s investments are managed by Nordea Investment Management AB.Full Pathfinder Pathfinder Global Responsibility Fund profile →
Documents
Crawled directly from each manager's website. How we record provenance →
Pathfinder
LiveLast verified 2026-05-08
- Supporting document490 kB · file fingerprint recorded
- Supporting document5160 kB · file fingerprint recorded
- Supporting document6356 kB · file fingerprint recorded
- Supporting document11086 kB · file fingerprint recorded
- Supporting document13994 kB · file fingerprint recorded
- Supporting document11709 kB · file fingerprint recorded
- + 9 more on the fund page
Common questions
What's the difference between the Mercer Core Global Shares Fund and the Pathfinder Global Responsibility Fund?
Both are international equities funds available to NZ retail investors. Mercer Core Global Shares Fund charges 0.06% lower in annual fund charges (1.24% vs 1.30%).
Which fund has lower fees, Mercer Core Global Shares Fund or Pathfinder Global Responsibility Fund?
Mercer Core Global Shares Fund has the lower annual fund charge (1.24% p.a. vs 1.30% p.a.). Source: each fund's most recent Quarterly Fund Update on the FMA Disclose register.
How do the 5-year returns compare?
Mercer Core Global Shares Fund's 5-year return p.a. is 13.93% and Pathfinder Global Responsibility Fund's is 4.97% (after fees, before tax). Past performance is not a reliable indicator of future returns.
Are both funds PIE-taxed in NZ?
Yes. Both are NZ Portfolio Investment Entities (PIEs). Investor tax on the fund's income is capped at the Prescribed Investor Rate (PIR), maximum 28%.
Does either fund apply responsible-investment screening?
Yes — Pathfinder Global Responsibility Fund applies responsible-investment / ESG screening. Mercer Core Global Shares Fund does not. Specific exclusions and engagement policies are documented in each fund's Statement of Investment Policy and Objectives (SIPO).
Where can I read the official documents for these funds?
Both funds publish their Product Disclosure Statement (PDS), Statement of Investment Policy (SIPO) and Quarterly Fund Update (QFU) on the FMA Disclose register at disclose-register.companiesoffice.govt.nz. Always read the current PDS before investing.
Not sure which fund is right for you?
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Important: This comparison is general information only — not personalised financial advice.
Past performance is not a reliable indicator of future returns. The right fund for you depends on your personal
circumstances. Read each fund's Product Disclosure Statement and consider speaking to a licensed financial adviser.