Reuters – Blue Rice Investment Management, founded in 2009 by the former chief investment officer for Korea Investment Corporation, Guan Ong, will return capital by the end of 2013, he told Reuters on Tuesday, adding to a growing list of fund closings in the region.
The shutdown is part of a shakeout in Asia where smaller-sized hedge funds are increasingly throwing in the towel as they struggle to attract money from risk-wary institutional investors, casting a cloud over prospects of the US$141 billion (S$175.7 billion) industry in the region.
