Public statement relating to Enforcement Action between the Central Bank of Ireland and Mercer Global Investments Management Limited

• Date: 16 November 2022

ENFORCEMENT ACTION

CENTRAL BANK OF IRELAND

and

MERCER GLOBAL INVESTMENTS MANAGEMENT LIMITED

Mercer Global Investments Management Limited fined €117,600andreprimanded by the

Central Bank of Ireland for breaches of UCITS investment fund regulations.

On 14 November 2022, the Central Bank of Ireland (the Central Bank) reprimanded and fined

Mercer Global Investments Management Limited (MGIM) €117,600pursuant to its

Administrative Sanctions Procedure for sixbreaches ofUCITSinvestment fundregulations(the

UCITS Regulations).

MGIMis a UCITS Management Company. A UCITS Management Company typically provides

managementservices for UCITS funds. MGIMwas responsible for issuing the prospectuses and

key investor information documents for fundsit managed. MGIM has admitted that, for varying

periodsbetween 1 July 2011 and 31 December 2018, the prospectuses and key investor

information documents (KIIDs) for five sub-funds failed to disclose that the sub-funds relied

upon an index-tracking strategy, or provide the details of the index being tracked.

The UCITS Regulationsrequirethat certain information must be included in prospectuses and

KIIDs and that this information should be kept up to date in order to enable investors to make

informed decisions about their investments. Failure to comply with these requirements may

result in investors not being fully informed of the investment strategy of aparticular fundor the

risks associated with investmentin that fund.

In addition, as part of its “gatekeeper” function in the authorisation of funds, the Central Bank

reviews prospectuses (including any supplements to those prospectuses) before authorising a