Robert Merton, the Nobel Prize winner who co-founded the failed hedge fund Long-Term Capital Management, said his new firm plans to start an asset management business and open new hedge funds. Trinsum Group, the firm created when Merton's Integrated Finance merged with Marakon Associates, will launch the new business before the end of the year, he said in an interview on Thursday. The firm, which already has an emerging markets fund, also plans to offer "specialty funds," he said without giving more details. "Asset management clearly is in our plan," Merton said on the sidelines of a financial derivatives conference in Brazil. "We will also have other funds." http://uk.reuters.com/article/fundsNews/idUKNOA42727520070824 Legends never die...