{ "schemaVersion": "1.1", "canonicalUrl": "https://managedfunds.nz/funds/mercer/macquarie-nz-fixed-interest/", "fetchedAt": "2026-06-20T08:25:17.245Z", "fund": { "slug": "macquarie-nz-fixed-interest", "name": "Mercer Macquarie NZ Fixed Interest Fund", "managerSlug": "mercer", "category": "nz-fixed-interest", "riskProfile": null, "isPie": true, "isEtf": null, "ticker": null, "isHedged": null, "isResponsibleInvestment": null, "isThematic": null, "isFifNotPie": null, "shortDescription": null, "availableVia": [ "direct" ], "dataStatus": "pending-ingestion" }, "manager": { "slug": "mercer", "name": "Mercer", "legalName": "Mercer (N.Z.) Limited", "parent": null, "website": "https://www.mercer.com/en-nz", "hq": "Auckland" }, "category": { "slug": "nz-fixed-interest", "name": "New Zealand Fixed Interest", "shortName": "NZ Fixed Interest" }, "metrics": { "status": "ok", "matchScore": 3.5, "sortedFundName": "MERCER MACQUARIE NZ FIXED INTEREST FUND", "sortedManager": "MERCER (N.Z.) 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Liquidity is maintained through suitable levels of liquid assets (cash and listed securities) redeemable within 30 days in normal conditions without materially moving the price. Daily liquidity monitoring, liquidity stress testing and a range of response tools are maintained." }, "scheme": { "scheme_name": "Mercer Investment Funds", "manager_name": "Mercer (N.Z.) 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These Fund Assets may not be immediately realisable." }, { "risk_name": "Valuation risk", "description": "The Funds' Unit prices are based on the latest market information. For securities or stocks that are illiquid or trade infrequently this pricing may not fully reflect the price available to either buyers or sellers. Accordingly, there is a risk that the quoted Unit price may change when these assets are revalued by the market following a transaction." }, { "risk_name": "Operational risk", "description": "The Funds may be exposed to operational risks that result from external events or failure of internal processes, people and systems. These risks include technology risk (including business systems failure), human error or failure, fraud, non-compliance with legal and regulatory obligations, counterparty performance under outsourcing arrangements, legal risk, data integrity risk, security risk and external events (including pandemics)." }, { "risk_name": "Risk of loss of PIE status", "description": "There remains a risk that the Funds or the Scheme could lose PIE status if there is a breach of those requirements and we do not become aware of the breach in time to correct it. This risk, if manifested, may have an adverse effect on the tax position of the relevant Fund, the Scheme and/or you. In particular, distributions made by the Fund to you would be taxable for you (subject to exceptions for returns of subscription amounts) if the Fund lost PIE status." }, { "risk_name": "Short-selling", "description": "Some of the underlying entities that the Funds invest into may conduct short-selling. The aim of short-selling is to sell an asset at a high price and buy the asset back at a later time, at a lower price. Consequently, the potential loss to the Fund may be greater than for traditional purchase and sale transactions, as the potential increase in price of the asset sold (and hence the potential loss) is unlimited." }, { "risk_name": "Tracking difference risk", "description": "This risk relates to the Mercer Index Funds which are designed to track the price performance of specific market indices. However, a fund will not always be able to exactly match the performance of the index. This could be for a variety of reasons, including the liquidity of the securities held by the fund, timing issues arising in the pricing of international holdings or associated foreign exchange hedging contracts, or operational error." }, { "risk_name": "Active management risk", "description": "As a 'manager of managers' and generally employing an active management approach, we may choose investment managers and/or investments that under-perform." }, { "risk_name": "Sustainable Investment (SI) risk", "description": "In order to follow a sustainable investment approach, exclusions are applied to the Mercer Investment Funds in accordance with Mercer's Sustainable Investment Policy which may mean they are less diversified in the investment options they can pursue. This means that they may forego some potentially profitable opportunities to align with Mercer's Sustainable Investment Policy." }, { "risk_name": "Sustainable Investment Policy breach", "description": "There is a risk that an underlying fund or funds may breach the Sustainable Investment Policy by holding assets that are excluded by, or are inconsistent with, the exclusion criteria applying to those funds. We mitigate this risk by requiring the underlying fund managers to monitor investments against the exclusion criteria and divest from an investment that meets the exclusion criteria in a reasonable period of time and as market conditions allow." }, { "risk_name": "Manager of managers' risk", "description": "Mercer is a 'manager of managers' and, as such, is dependent upon other managers performing their investment management activities and achieving the outcomes desired by Mercer. There remains a risk that such managers could under-perform or fail to achieve the objectives set out in their policies or investment mandate." } ], "tax_disclosures": [ "The Mercer Investment Funds Scheme is a Portfolio Investment Entity (PIE). Each Fund's taxable income is attributed to investors in proportion to the number of Units held in the Fund.", "The Fund pays tax on income attributed to investors at their selected PIR, which can be 28%, 17.5%, 10.5% or 0% subject to satisfying various conditions.", "If the tax liability on income attributed to an investor exceeds their investment in the relevant Fund, some or all of Units could be redeemed and the proceeds paid to the IRD.", "If an investor does not notify their PIR or provide their IRD number, the default rate of 28% will apply. In the case of joint investors the higher PIR of the joint investors is used.", "New Zealand resident natural persons with a PIR greater than 0% will be subject to an end of year square-up process undertaken by Inland Revenue.", "Trustees electing the 10.5% or 17.5% PIR may be required to file a tax return including PIE attributed income and possibly pay tax at their relevant marginal tax rate with a credit for tax paid by the Fund.", "Investors eligible for 0% PIR must include attributed income in their own tax return and claim attributed losses as deductions; tax credits for foreign withholding tax and imputation credits are attributed to them.", "Investing in the Funds may not be appropriate for non-residents as New Zealand tax will be imposed on attributed income at 28%, which may be higher than the New Zealand tax rate applying to comparable NZ investments.", "The financial arrangement rules will apply to foreign currency hedges where the FDR currency hedges method cannot be applied or is not adopted. The FDR foreign currency hedges tax calculation method is intended to minimise mismatches in income and expenditure on hedges relating to shares taxed under the FDR method or listed on the ASX.", "The Commissioner of Inland Revenue can require the Manager to disregard the PIR notified by an investor and apply a PIR notified by the Commissioner." ], "trustee_supervisor": "The New Zealand Guardian Trust Company Limited", "auditor": null, "custodian": "BNP Paribas Fund Services Australasia Pty Ltd (trading as BNP Paribas Securities Services)", "source_paragraphs": [ "Where a Fund invests into any other investment fund managed by us the fees that would ordinarily be charged on the underlying funds in respect of these investments will be waived.", "The Trust Deed does not allow us to increase the management fee for a Fund above 2% per annum of the Value of the Assets of the Fund.", "Subject to the limits on permitted indemnities under the FMC Act, we and the Supervisor are indemnified out of the Funds for all losses, costs and expenses incurred by us or the Supervisor in relation to the proper performance of our general duties." ], "_match": { "schemeId": "SCH10307", "ourFundName": "MERCER MACQUARIE NZ FIXED INTEREST FUND", "scope": "scheme-level" } }, "sources": { "fmaDisclose": "https://disclose-register.companiesoffice.govt.nz/search?searchType=ALL&q=Mercer%20Macquarie%20NZ%20Fixed%20Interest%20Fund", "sortedSmartInvestor": "https://smartinvestor.sorted.org.nz/kiwisaver-and-managed-funds/SCH10307/OFR10322/FND79/", "productDisclosureStatement": "/disclose-document/b720706a04231454/Mercer-Investment-Funds-PDS-Multi-Asset-Class-Funds.pdf", "pdsExtractSource": "https://smartinvestor.sorted.org.nz/disclose-document/462ada1097bbdfe4/Mercer-Investment-Funds-PDS-Cash-and-Fixed-Interest-Funds.pdf", "sipoExtractSource": "https://smartinvestor.sorted.org.nz/disclose-document/6f52e4cc3e99890f/Mercer-Investment-Funds-SIPO-23-March-2026.pdf", "omiExtractSource": "https://smartinvestor.sorted.org.nz/disclose-document/a49039cda441ced1/Mercer-Investment-Funds-OMI-23-March-2026.pdf" }, "licence": { "reuse": "Citation with link-back to canonicalUrl required. No paid redistribution.", "contact": "hello@managedfunds.nz" } }