Date: 16 July 2025

Upcoming Fee Increase to the Mercer NZ Shares Passive Fund

We would like to inform of upcoming fee changes for the Mercer NZ Shares Passive Fund (Fund), where effective 1 August 2025, the Fund’s annual fund charges will increase from 0.34% p.a. to 0.63% p.a. and the buy/sell spread will increase from 0.13%/0.13% to 0.30%/0.30%.

Mercer has explained that the fee increase reflects a change in the Fund’s underlying investment portfolio, as it is no longer cost-efficient to operate the original investment portfolio following a recent reduction in scale.

Once effective, this fee increase will impact investors in the Mercer NZ Shares Passive Fund on both the InvestNow Managed Funds Platform and InvestNow KiwiSaver Scheme.

Note that the Mercer Investment Funds disclosure material will be updated to reflect this change, and accessible on the Mercer Landing Page on InvestNow once available.

The InvestNow KiwiSaver Scheme disclosure material will also be updated to reflect this change. You can find a summary of the key upcoming changes to the InvestNow KiwiSaver Scheme’s disclosure material here, and a copy of all current disclosure material here.

If these changes mean that the Fund no longer meets your investment needs, you can choose to update your investment portfolio as follows:

1. Within the InvestNow Managed Funds Platform, you can sell down your units in the Mercer NZ Shares Passive Fund at any time. You can find instructions on how to do this here. If the Fund is also in your Regular Investment Plan, ensure you also update your plan by removing the Fund from it. You can reallocate the contribution to other funds you already have in your plan, replace the Fund in your plan with another fund available on InvestNow, or if it is the only fund you have in your plan then simply make the plan inactive.
2. Within the InvestNow KiwiSaver Scheme portfolio, you can remove the Mercer NZ Shares Passive Fund from both your current investment mix as well as your future contributions. You can find instructions on how to do this here. Please note you must select “Apply change to your current investment mix and future contributions” for step 3, and then select the appropriate percentages you want to invest into each fund going forward.

Should you have any questions please do not hesitate to contact us on 0800 499 466 or at contact@investnow.co.nz

Mike Heath
General Manager
InvestNow
Mob: +64 27 285 9178
mikeheath@investnow.co.nz

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The issuer and manager of the InvestNow KiwiSaver Scheme and Foundation Series Funds is FundRock NZ Limited. For the InvestNow KiwiSaver Scheme Product Disclosure Statements click here.