Asset Owner Directory

Railways Pensions (Railpen Investments)

The Railways Pension Scheme is one of the UK’s largest and longest established pension funds. RPMI Railpen (Railpen) is responsible for the safekeeping and investment of circa £33 billion on behalf of the scheme’s 350,000 members who are connected to the railway industry


United Kingdom

AUM ($B)




Chief Executive

John Chilman

Chief Investment Officer

Richard Williams


Mike Craston

Asset allocation
On December 31, 2019 the total pooled funds were made up of: Equities (39.15%), Fixed Interest Securities (6.29%), Indexed Linked Securities (3.10%), UK Property (6.14%), Pooled Investment Vehicles (31.96%), Derivatives and other assets (1.48%), Cash and Cash Equivalents (11.88%)

39.15% Equities

6.29% Fixed Interest Securities

3.10% Indexed Linked Securities

6.14% UK Property

31.96% Pooled Investment Vehicles

1.48% Derivatives and Other Assets

11.88% Cash and Cash Equivalents related articles

UK funds focus on manager diversity

A group of major UK pension funds have committed to assessing diversity and inclusion as part of manager selection. Fund managers wanting to work with these clients will have to disclose information and demonstrate real devotion on how they are tackling diversity and inclusion within their workforce. 
Investor Profile

Railpen positions for fiduciary future

Michelle Ostermann, managing director of investments at the £30 billion Railpen discusses the pension fund's continued evolution including ongoing organisational change, more assets in-house, a new investment decision making framework, and an increased allocation to private assets.