Canadian Summary Pooled Fund Survey

Mercer maintains an extensive set of quantitative and qualitative data on investment manager databases in its Global Investment Management Database (GIMD). Included among these is data on pooled funds available to Canadian institutional investors.

The summary pooled fund survey is published quarterly and is free of charge.

Select from below to access a pdf summary pooled fund survey report. Archives are available starting from the fourth quarter 2001 to the present.

Canadian Summary Pooled Fund Survey Reports

Disponible en français

More information about Mercer databases

The Mercer Universes constructed from the pooled fund database are pure, robust and transparent. We apply rigorous analysis to the composition of our universes so that the user is not required to decipher the validity of the data. We encourage all eligible investment managers to participate in our databases and do not charge a fee to enter either our databases or published surveys.

The pooled funds in the database are offered by investment managers based in Canada and around the world. Each fund is eligible for Canadian institutional investors, including pension plan sponsors, endowments, foundations, and corporate treasuries. Funds must be invested on a fully discretionary basis without client-imposed constraints and therefore represent the best efforts of the investment manager. Retail funds are not included in the database, as the associated investment philosophies and fees are generally not appropriate nor targeted for institutional investors.

All data is provided by the investment managers. Manager’s data is carefully checked and verified by Mercer prior to final inclusion in the database. Total returns, including realised and unrealised gains plus accrued income, are calculated after transactions costs but prior to the deduction of investment management fees.

In constructing relative universes, our highest priority is to maintain the purity of each asset class. A fund becomes eligible for inclusion in a Mercer Universe as soon as it has one year of performance history with client assets. All funds combined together in one universe must be actively managed and benchmarked to a similar broad index representative of that asset class. Passive or index funds are listed separately so as not to skew the rankings. Specialty funds which invest in a particular sector or part of an asset class are never commingled in a single universe.

Universe summary statistics are calculated on an equal-weighted basis by pooled fund. Funds are listed by registered owner (frequently the investment manager itself except in cases where a sub-advisory relationship exists). Multiple funds from a single owner are permitted where a distinct investment strategy is applied to each fund. We research the investment philosophy and process of each fund.

The universes are unbiased in that all funds contained in the database that meet these criteria are automatically included in universe calculations. The list of funds contained in each universe does not fluctuate from one quarter to the next and is publicly available. Some funds that do not conform to an established universe remain in the database until a sufficient number of similar funds exist. A new universe is then created.

The Mercer Universes do not suffer from survivorship bias. Periodically, a fund is closed or withdrawn by the manager. The historical data remains in the database and contributes to all relevant universe calculations. If a fund is withdrawn, it cannot be selectively replaced by the manager with a similar fund.

You can learn more

The pooled fund and universe data are used in a variety of consulting assignments. The Mercer Medians and universe summary statistics are available quarterly at no charge. An extensive Investment Performance Survey of Canadian Institutional Pooled Funds is available by annual subscription. Finally, we also offer our proprietary performance analysis software, MercerInsight MPA.

If you would like further information, please contact Spyro Carayannis +1 416 868 7088.

  

Mercer is a leading global provider of investment consulting services, and offers customized guidance at every stage of the investment decision, risk management and investment monitoring process. We have been dedicated to meeting the needs of clients for more than 30 years, and we work with the fiduciaries of pension funds, foundations, endowments and other investors in some 35 countries. We assist with every aspect of institutional investing (and retail portfolios in some geographies), from strategy, structure and implementation to ongoing portfolio management. We create value through our commitment to thought leadership; world-class, independent research; and top-notch consultants with local expertise.