Ex-KIC investment chief shutting Blue Rice hedge fund

HONG KONG Tue Nov 19, 2013 1:49am EST

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HONG KONG Nov 19 (Reuters) - Blue Rice Investment Management, founded in 2009 by the former chief investment officer for Korea Investment Corporation, Guan Ong, will return investors' capital by the end of the year, he told Reuters on Tuesday.

"The world is going to be a bit more volatile," Ong said. "The way our funds are structured, we kind of feel that it's better for us to return investors' (capital) when investors are still up."

Singapore-based Blue Rice managed less than $100 million in September in two hedge funds, the BRIM Asian Short Duration Fund and BRIM Asian Credit Fund, according to marketing material obtained by Reuters.

(Reporting by Nishant Kumar; Editing by Matt Driskill)

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