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Form N-PX · fund registrantSEC filer no. 1320615

Mercer Funds

fund voting report

Vote records reported
22,462year to 30 June 2026
Against management
7.0%1,504 of 21,338 marked votes
Say-on-pay support
90.8%for, of for + against + abstain
Shareholder-proposal support
24.8%for, of for + against + abstain
88.3% for7.0% against4.7% other7.0% against management22,401 votes

foragainstabstain, withhold or otheramber tick: the portion cast against management

In its Form N-PX for the year to 30 June 2026, Mercer Funds listed 22,462 vote records. Votes against management made up 7.0% of those marked either way (1,504 of 21,338); the median fund registrant stood at 6.2%.

Weighted by the number of shares voted, the against-management share is 6.9%. The two figures differ when the votes against management fall on larger or smaller holdings than the rest.

On pay and on shareholder proposals: it voted for 90.8% of the section 14A say-on-pay items it reported (the median fund registrant: 91.6%) and it voted for 24.8% of the proposals put forward by security holders (the median fund registrant: 27.5%).

By category, votes against management were most frequent in SHAREHOLDER RIGHTS AND DEFENSES (37.5% of 72), COMPENSATION (11.2% of 1,997) and ENVIRONMENT OR CLIMATE (8.8% of 57).

It reported 149.1 million shares out on loan at record dates, 2.45% of the shares it held or had lent across the meetings it reported. Shares on loan are not voted.

Compared with other filers

Each rate is defined once, in the methodology. The median is taken over 1,241 fund registrants with at least 25 vote records in the season.

year to 30 June 2026This filerMedian fund registrantAll filers pooled
Against-management share7.0%6.2%10.6%
Say-on-pay support rate90.8%91.6%86.0%
Shareholder-proposal support rate24.8%27.5%33.9%
Shares on loan, share of shares held2.45%0.00%3.12%
Largest families, year to 30 June 2026Against managementSay-on-pay supportShareholder-proposal support
Vanguard20.1%94.1%42.0%
BlackRock and iShares7.5%88.3%11.9%
Fidelity6.0%94.7%27.6%
Dimensional16.4%78.9%57.4%
State Street and SPDR16.9%77.1%50.4%

Votes by category

Filers choose one or more categories for each vote, so a vote can appear in more than one row. Category names are printed as Form N-PX defines them.

Category (as the form names it)VotesForAgainstAgainst managementSplit
DIRECTOR ELECTIONS10,7619,6596317.2%
SECTION 14A SAY-ON-PAY VOTES466393408.7%
AUDIT-RELATED1,4161,329483.6%
INVESTMENT COMPANY MATTERS5050.0%
SHAREHOLDER RIGHTS AND DEFENSES7362637.5%
EXTRAORDINARY TRANSACTIONS30028451.0%
CAPITAL STRUCTURE2,9212,5842157.4%
COMPENSATION2,1071,79822511.2%
CORPORATE GOVERNANCE4,1483,5802915.2%
ENVIRONMENT OR CLIMATE5713438.8%
HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE7070.0%
DIVERSITY, EQUITY, AND INCLUSION51420.0%
OTHER SOCIAL ISSUES12276440.8%
OTHER1353not reported

By season

SeasonVote recordsAgainst managementSay-on-pay supportShareholder-proposal supportSplit
year to 30 June 202426,2469.2%88.9%32.7%
year to 30 June 202522,9347.7%90.3%24.6%
year to 30 June 202622,4627.0%90.8%24.8%

Say-on-pay votes against management

Counting one say-on-pay item per company meeting, Mercer Funds voted against management on 37 of the 396 it marked either way (9.3%) in the year to 30 June 2026.

A further 8 say-on-pay items were reported without a management mark and are left out of both sides of that fraction.

Shareholder proposals it supported

Of 210 proposals from security holders that could be told apart in the filings and on which it cast a vote, Mercer Funds voted for 45 (21.4%). The 40 at the companies with the most reporting filers are listed. Titles are the most common wording among filers; where a wording could name a person, the SEC category is printed instead.

CompanyMeetingProposal
AT&T INC.14 May 2026Shareholder Right to Act by Written Consent
Comcast Corporation10 Jun 2026Adopt policy to have an independent chair
Zoetis Inc.20 May 2026Shareholder proposal to permit shareholder action by written consent.
Autodesk, Inc.17 Jun 2026Stockholder proposal requesting amendment to stockholder special meeting right.
United Airlines Holdings, Inc.19 May 2026Advisory vote on stockholder proposal entitled "Shareholder Right to Act by Written Consent".
Jabil Inc.22 Jan 2026Vote on a stockholder proposal requesting stockholder right to act by written consent.
Tyson Foods, Inc.5 Feb 2026Shareholder proposal regarding disclosure of voting results based on class of shares.
BJ's Wholesale Club Holdings, Inc.18 Jun 2026Vote on a shareholder proposal regarding a report on greenhouse gas emissions reduction efforts
BJ's Wholesale Club Holdings, Inc.18 Jun 2026Vote on a shareholder proposal regarding adopting a majority voting standard
Annaly Capital Management, Inc.10 Jun 2026Advisory stockholder proposal to adopt the right to act by written consent.
Entegris, Inc.6 May 2026Stockholder Proposal: Providing stockholders the right to call special meetings of stockholders.
Medpace Holdings, Inc.15 May 2026Stockholder proposal regarding giving shareholders an ability to call for a special shareholder meeting
Universal Health Services, Inc.20 May 2026Stockholder proposal to adopt a policy requiring Universal Health Services, Inc. to publicly disclose its...
Universal Health Services, Inc.20 May 2026Disclosure of Voting Results Based on Shareholders' Money at Risk
Assurant, Inc.21 May 2026Stockholder proposal regarding action by written consent.
Lincoln National Corporation28 May 2026Require Independent Board Chair
MKS Instruments, Inc.11 May 2026A shareholder proposal to reduce the threshold percentage of shareholders required to call a special...
Eagle Materials Inc.4 Aug 2025Non-binding advisory stockholder proposal requesting the declassification of our Board of Directors.
Mohawk Industries, Inc.21 May 2026Stockholder proposal regarding a majority vote standard.
Bio-Rad Laboratories, Inc.21 Apr 2026Stockholder proposal regarding dual class capital structure.
Group 1 Automotive, Inc.12 May 2026Shareholder Proposal: Give Shareholders an Ability to Call for a Special Shareholder Meeting.
Power Integrations, Inc.3 Jun 2026To consider, if properly presented at the Annual Meeting, a stockholder proposal related to the separation...
Alimentation Couche-Tard Inc.3 Sep 2025Hold Annual Meetings of the Company in Person with Virtual Meetings as Complements
PKO Bank Polski SA25 Aug 2025Approve Decision on Covering Costs of Convocation of EGM
The Kansai Electric Power Co., Inc.25 Jun 2026Shareholder Proposal Regarding Individual Compensation Disclosure
Powszechny Zaklad Ubezpieczen SA23 Dec 2025Shareholder Proposal Regarding Approval of Claim to Seek Compensation for Losses against Beata...
Kao Corp.30 Apr 2026Shareholder proposal: ENVIRONMENT OR CLIMATE
Mediobanca Banca di Credito Finanziario SpA28 Oct 2025Shareholder proposal: AUDIT-RELATED
Woolworths Group Limited30 Oct 2025Shareholder proposal: ENVIRONMENT OR CLIMATE
Kyocera Corp.25 Jun 2026Initiate Share Repurchase Program
Shimano, Inc.24 Mar 2026Initiate Share Repurchase Program
KGHM Polska Miedz SA20 Jan 2026Shareholder Proposal Regarding Coverage of Meeting Costs
CGI Inc.28 Jan 2026Hold Annual Meetings of the Company in Person with Virtual Meetings as Complements
Mitsui Mining & Smelting Co., Ltd.26 Jun 2026Amend Articles to Require Individual Compensation Disclosure for Directors
Meiji Holdings Co., Ltd.26 Jun 2026Approve Restricted Stock Plan
Rinnai Corp.26 Jun 2026Approve Restricted Stock Plan
Tokyo Electric Power Co. Holdings, Inc.25 Jun 2026Amend Articles to Require Individual Compensation Disclosure for Directors and Executive Officers
Ezaki Glico Co., Ltd.24 Mar 2026Approve Restricted Stock Plan
Ezaki Glico Co., Ltd.24 Mar 2026Initiate Share Repurchase Program
Hokkaido Electric Power Co., Inc.25 Jun 2026Amend Articles to Require Individual Compensation Disclosure for Directors and Senior Advisors

Shares on loan

Mercer Funds reported 149.1 million shares on loan at record dates against 5.93 billion shares voted: 2.45% of the two together. Median fund registrant: 0.00%. Shares lent out at the record date cannot be voted by the lender, which is why Form N-PX asks for the figure. More on lending and votes.

Fund series in this filing

4 series reported votes. A vote record can list several series. Series with 500 or more vote records have their own page.

SeriesVote recordsAgainst managementSay-on-pay supportShareholder-proposal support
Mercer Non-US Core Equity Fund15,0165.9%96.0%16.2%
Mercer Emerging Markets Equity Fund3,97410.0%not reported46.2%
Mercer US Small/Mid Cap Equity Fund3,3889.2%89.5%66.7%
Mercer Opportunistic Fixed Income Fund846.3%not reportednot reported

The filings

These figures are read from the filer's own Form N-PX. If a vote on this page looks wrong, the filing is the record: a dispute about a filed vote is a matter for the filer, and an error in how this site read the filing is a matter for corrections.

Questions

How did Mercer Funds vote on executive pay?

In the year to 30 June 2026 Mercer Funds reported 433 votes in the category SECTION 14A SAY-ON-PAY VOTES that were cast for, against or abstain. 393 were for (90.8%), 40 against and 0 abstentions. Counting one item per company meeting, it voted against management on 37 of the 396 say-on-pay items it marked either way. A further 8 say-on-pay items were reported without a management mark and are not counted in that figure.

How often does Mercer Funds vote against management?

7.0% of the time in the year to 30 June 2026: 1,504 of the 21,338 votes it marked as for or against management. Form N-PX asks each filer to state, vote by vote, whether the vote was for or against management's recommendation; this figure counts those marks.

Did Mercer Funds support shareholder proposals on climate?

In the category ENVIRONMENT OR CLIMATE it reported 46 votes on proposals from security holders in the year to 30 June 2026 and voted for 3 of them (6.5%). Across every category it voted for 24.8% of security-holder proposals. Filers choose the category for each vote, so the same proposal can sit in different categories in different filings.

Is this the result of the meetings?

No. Form N-PX shows how this filer voted the shares it held. It does not show how other shareholders voted or whether a proposal was approved. Companies report certified results separately, on Form 8-K.

Where does the data come from?

From the Form N-PX filings of this filer on the SEC's EDGAR system, read as filed. The SEC does not verify the contents. Amended filings (N-PX/A) replace the filings they amend. Data on this page runs through 23 Sep 2026.

Provenance: SEC EDGAR, Form N-PX and N-PX/A filings by Mercer Funds (filer no. 1320615), read as filed and not verified by the SEC. Amended filings replace the filings they amend. Filings read through 23 Sep 2026; page built 26 Sep 2026.