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Mercer’s new funds business Back  
Mercer Global Investments (MGI), Mercer’s multi-manager business, has formally launched its new European headquarters in Dublin, which has already accumulated assets under management of $500 million.
Despite high fees, multi-manager funds continue to grow in popularity in Ireland, as they allow easy access to a diverse range of specialist fund managers under a single fund structure.

The new operation will be headed up by Tom Murphy, former leader of Mercer Investing Consulting in Dublin. The other senior executives are: Hooman Kaveh, chief investment officer and formerly of Irish Life’s multi-manager business; John Poole, chief operating officer, and former head of operations with the Russell Investment Group in London; and Dan Melley, business development manager, and former head of Mercer Investment Consulting’s defined contribution pension scheme consulting group. The operation will also be served by an office in London.
Initially, the MGI business will be focused on the UK and Ireland, but the firm has its eyes on the continental European market, and ‘measured expansion’ in these markets is already underway.

As well as serving institutional pension fund clients, MGI will partner with third-party distribution providers across Europe.

MGI has a 10 year track record in constructing multi-manager funds, and has approximately $12 billion in assets under management. It uses proprietary tools and methodologies to develop multi-manager portfolios and has a network of portfolio managers in the US, Europe, Australia and Canada.

MGI will start with nine funds covering bonds and equities, with Mercer providing manager research. One Irish manager has received an allocation, Irish Life Investment Management, who will manage a passive US equities fund, as well as running the passive component of the European bond fund.

The MGI funds can be accessed directly or through Mercer Retirement Solutions, which offers trustees the ability to outsource all aspects of their pension arrangements, including consulting, administration, and member communication in addition to asset management.

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