MNCEX Performance — Mercer Non-US Core Equity Fund, Class Y-3
Data updated: 2026-08-21
MNCEX returned +9.32% year to date and +21.56% over one year to Jun 2026. Annualised returns are +19.31% over 3 years and +10.01% over 5 years. Against its International Multi-Cap Blend category average the fund came out ahead over three years but behind over one: $100 invested three years ago grew to $170, against $162 for the category, and to $122 over one year, against $122. Volatility over the past three years was 12.92% a year. In the 12 months to Jun 2026 the fund took in a net $789.9M, and assets reached $4.78B.
MNCEX Growth of $100
What $100 invested in Mercer Non-US Core Equity Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the International Multi-Cap Blend category average over the same months.
| Period | MNCEX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $122 | $122 |
| 3 years (Jul 2023 – Jun 2026) | $170 | $162 |
| 5 years (Jul 2021 – Jun 2026) | $161 | $154 |
| Since data start (Jul 2019 – Jun 2026) | $217 | $200 |
MNCEX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +9.32% |
| 1 year | +21.56% |
| 3 years (annualised) | +19.31% |
| 5 years (annualised) | +10.01% |
MNCEX Annual Returns
Calendar-year total returns of Mercer Non-US Core Equity Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +9.32% |
| 2025 | +37.30% |
| 2024 | +6.29% |
| 2023 | +18.81% |
| 2022 | −16.82% |
| 2021 | +11.92% |
| 2020 | +12.99% |
| 2019 (Jul–Dec) | +8.82% |
MNCEX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +5.6% | +4.7% | −9.2% | +6.1% | +3.1% | −0.5% | — | — | — | — | — | — |
| 2025 | +5.1% | +3.1% | +0.9% | +4.2% | +5.5% | +2.8% | −0.3% | +4.2% | +2.7% | −0.3% | +2.2% | +2.3% |
| 2024 | +0.2% | +3.5% | +3.9% | −3.0% | +5.2% | −2.5% | +3.2% | +2.9% | +0.4% | −5.1% | +0.1% | −2.1% |
| 2023 | +8.1% | −1.8% | +2.0% | +2.1% | −3.9% | +5.1% | +3.0% | −3.1% | −2.5% | −4.1% | +8.9% | +4.7% |
| 2022 | −4.9% | −2.9% | −0.4% | −6.4% | +1.4% | −9.3% | +5.1% | −5.5% | −9.2% | +5.8% | +11.3% | −1.0% |
| 2021 | −0.8% | +2.6% | +2.1% | +2.8% | +3.7% | −1.2% | +1.0% | +2.0% | −4.1% | +3.0% | −4.5% | +5.3% |
| 2020 | −2.8% | −8.3% | −13.0% | +7.4% | +5.5% | +3.5% | +3.8% | +5.3% | −1.5% | −3.6% | +13.6% | +5.1% |
| 2019 | — | — | — | — | — | — | −1.5% | −1.8% | +2.7% | +3.9% | +1.5% | +3.7% |
MNCEX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 12.92%
- 3-year Sharpe ratio: 1.15 (vs 4.5% risk-free rate)
- Best month: +8.92% (Nov 2023)
- Worst month: −9.16% (Mar 2026)
MNCEX Fund Flows
Monthly money in and out of Mercer Non-US Core Equity Fund, from SEC Form N-PORT.
- 12-month net flow: $789.9M
- 12-month gross sales (incl. reinvestments): $2.1B
- Sales ÷ redemptions: 1.59×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $113.3M | $115.8M | −$2.5M |
| May 2026 | $161.1M | $182.9M | −$21.8M |
| Apr 2026 | $52.7M | $119.3M | −$66.6M |
| Mar 2026 | $297.0M | $152.6M | $144.4M |
| Feb 2026 | $72.1M | $91.2M | −$19.1M |
| Jan 2026 | $43.2M | $84.1M | −$40.9M |
| Dec 2025 | $608.6M | $148.7M | $459.9M |
| Nov 2025 | $398.8M | $83.7M | $315.1M |
| Oct 2025 | $92.0M | $41.4M | $50.6M |
| Sep 2025 | $96.2M | $82.0M | $14.2M |
| Aug 2025 | $88.3M | $72.4M | $15.9M |
| Jul 2025 | $116.3M | $175.5M | −$59.2M |
MNCEX Assets Under Management
Net assets of Mercer Non-US Core Equity Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $4.78B |
| 2026-03-31 | $4.49B |
| 2025-12-31 | $4.38B |
| 2025-09-30 | $3.91B |
| 2025-06-30 | $3.69B |
| 2025-03-31 | $3.74B |
| 2024-12-31 | $3.60B |
| 2024-09-30 | $4.06B |
| 2024-06-30 | $3.86B |
| 2024-03-31 | $3.84B |
| 2023-12-31 | $3.63B |
| 2023-09-30 | $3.38B |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.