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Feb.18 — Franklin Resources Inc. and Legg Mason Inc. helped pioneer asset management in the 20th century. On Tuesday, the venerable but fading names said they will combine in an effort to compete, as low-cost index funds upend their industry. Bloomberg’s Sonali Basak, Sarah McBride, Natalie Wong and Lisa Abramowicz discuss the recent headlines in the private markets on “Bloomberg Money Undercover”.