Ex-Korea Sovereign Fund CIO Ong Plans Hedge Fund

Bloomberg – Guan Ong, former chief investment officer of South Korea’s sovereign wealth fund, is setting up a hedge fund to trade Asian bonds that he forecasts will benefit from a “period of economic uncertainty.”

Blue Rice Investment Management’s BRIM Asian Credit Fund, which will trade the region’s dollar-denominated debt, will target annual returns of 10 percent to 15 percent, Ong, 49, said in an interview yesterday. The fund aims to start with as much as $30 million, including Ong’s own money, in October or November, he said.

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