Mercer Funds added Ninety One North America as a subadviser to the Mercer Opportunistic Fixed Income Fund, according to SEC filing supplement Thursday.
The Opportunistic Fixed Income Fund invests primarily in U.S. and non-U.S. fixed-income securities, including those in emerging and frontier markets, and had about $1.25 billion in assets as of March 31, according to Mercer's website.
Werner Gey van Pittius and Antoon de Klerk will serve as the primary portfolio managers of the portion of the fund managed by Ninety One, the filing said.
For the year ended March 31, the Opportunistic Fixed Income Fund returned a net -3%, compared with a net return of -4.4% for its benchmark, the ICE BofAML Global High Yield 2% Constrained index, Mercer's website said.
The other subadvisers on the Opportunistic Fixed Income Fund are Loomis, Sayles & Co., Western Asset Management, BlackRock International and Colchester Global Investors, according to Mercer's website.
Ninety One North America already serves as a subadviser to the $1.3 billion Mercer Global Low Volatility Equity Fund.
Ninety One North America is an indirect wholly owned subsidiary of Ninety One PLC and has discretionary assets under management of $38 billion, according to a 13F filing.
Neither Mercer nor Ninety One could be reached for further details.