Mercer Moderate Growth Enh Pasv Units

The Class has allocations towards both growth and defensive oriented assets, including shares, real assets, and fixed interest. These assets are mainly passively managed, using a multi-manager approach. Diversification is achieved at the asset class, manager, country, sector and securities levels, with a focus on operational efficiency and sustainability. International assets held by the Class may be fully hedged, partially hedged, or unhedged for fluctuations in the Australian dollar against other currencies.