The Alternative Data Podcast The Railpen Episode
Mar 22, 2025
Richard Dudley, Senior Portfolio Manager at Railpen, shares insights from his extensive experience in running systematic equity strategies. He discusses the unique dynamics of managing £7bn within a tight-knit, 10-person team. Richard explains the differences between defined benefit and contribution pensions, the challenges of integrating alternative data, and how ESG factors play into investment decisions. He also highlights the importance of ethical alignment when managing pensions, ensuring member interests are prioritized.
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Design Funds Around Your Clients
- Tailor funds to your clients because internal asset owners can design strategies to client needs instead of selling to outside investors.
- Drive end-to-end research from data plumbing to fund design for better alignment and bespoke outcomes.
Match Ideas To Capacity
- Prioritise capacity when choosing ideas: avoid low-capacity, niche strategies that can't scale to your AUM.
- Focus on products that materially move the needle for your multi‑asset vehicle even if smaller than global giants.
Textual Data As A Natural Entry
- 'Alternative data' is a fuzzy label and has evolved from niche to mainstream; textual company filings were Railpen's first useful alternative input.
- The team's systematic build-out intensified when the systematic group formed around 2017.