Railpen Adds Credit Exposure To Growth Fund

Railpen, one of the U.K.’s largest pension funds managing around GBP34 billion in assets, had added a GBP2 billion multi-asset credit strategy to its GBP20 billion Growth Fund, managed by Craig Heron, head of public markets. While the pension had some exposure to certain elements of credit already, this is a brand new mandate for the Growth Fund and is intended to improve the fund’s the risk and return profile, Heron said. The fund also invests across equities, real estate, government bonds and other diversifying strategies.