Advisers

We use the services of professional advisers to help run the scheme. Our advisers currently include:

Secretary

The scheme secretary is Mercer (N.Z.) Limited (Mercer). The secretary provides secretarial services to the scheme.

Administration manager

Mercer is the scheme’s administration manager. The administration manager takes care of the day-to-day running of the scheme, including maintaining records, paying benefits and maintaining the member-only section of the website. Mercer also provides a limited financial advice service to members.

Investment manager

Mercer is also the scheme's investment manager. Its role included providing advice relating to asset classes such as strategic asset allocation and dynamic asset allocation and services relating to investment management, investment reporting and maintaining an advisory committee. We invest the assets of the scheme in Mercer Investment Trusts New Zealand (MITNZ). Mercer acts as manager of MITNZ and appoints underlying investment managers to manage the assets of MITNZ. These managers are listed below (updated 23 January 2024).

Underlying investment managers

Growth assets
Trans-Tasman equities	Devon Funds Management Harbour Asset Management Smartshares
International equities (50% hedged)	Alliance Bernstein (core) Arrowstreet (core) Arrowstreet (small companies) Baillie Gifford & Co (core) BlackRock Investment Management (emerging markets) Impax Asset Management (core - SR) Maj Invest (core) Mirova (core - SR) RBC Global Asset Management (core - SR) State Street Global Advisors (core - SR) Wellington Management (core) Wellington Management (core - SR)
International listed property (hedged)	Principal Global Investors Resolution Capital
International listed infrastructure (hedged)	Atlas Infrastructure First Sentier Investors
Income assets
International fixed interest (hedged)	Morgan Stanley PIMCO Wellington Management
New Zealand fixed interest	Harbour Asset Management
New Zealand cash and cash equivalents	Nikko Asset Management

Investment consultant

Russell Investment Group Limited advises on issues relating to investments and helps monitor MITNZ.

Auditor

Deloitte states an independent opinion on the financial statements presented by us and reports this opinion to members.

Solicitor

DLA Piper advises on legal issues affecting the scheme.

Communications adviser

Metzger Communications looks after member communications, including this public website.