Mercer cuts mandates for Global Listed Property Fund

Mercer Investments Australia has again trimmed its fund manager line-up, this time making changes to its Global Listed Property Fund.

Effective July 1, Principal Asset Management will be the sole fund manager overseeing the Mercer Global Listed Property Fund.

Also on this date, Resolution Capital via its Global Property Fund, will no longer be co-managing the fund.

Resolution Capital's fund primarily invests in global listed REITs and real estate securities that derive most of their returns from rental income. This includes global real estate in office buildings, shopping centres, industrial warehouses, residential communities, hotels and healthcare facilities.

Mercer's fund provides exposure to global listed property securities utilising an active, multi-manager approach. It invests predominantly in developed markets but may also have an allocation to property securities in emerging markets.

Based in Iowa, US, Principal AM has US$577.9 billion in assets under management.

In May, Mercer overhauled its mandates for its Australian equities and small-caps funds following an investment review. Its real estate investments cover infrastructure, and equity and debt in the private and public sectors.

Previously, the managers for the Mercer Australian Shares Fund were Ausbil Investment Management, FIL Investment Management (Australia), Firetrail Investments, Greencape Capital, Plato Investment Management, Vinva Investment Management and WaveStone Capital.

Mercer trimmed the lineup to Ausbil, Greencape, Pendal, Plato and First Sentier Group's quantitative equities arm RQI Investors.

The Mercer Australian Small Companies Fund's previous managers were Firetrail Investments, RQI Investors, Longwave Capital Partners and Perennial Value Management.

Longwave and RQI Investors were the only two managers Mercer retained for the management of the small-caps fund.

In early 2026, Mercer also updated its fund manager stable for the International Shares Fund and Advance International Shares Fund so as to streamline the structure to focus on core strategies that deliver more consistent excess performance.