UBS Wealth Management Inflows Top Estimates; Shares Rise
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UBS AG, Switzerland’s biggest bank, attracted more funds from wealthy clients in the first quarter than analysts estimated, sending the company’s shares to the biggest advance in two weeks.
UBS rose 3.7 percent in Zurich trading after saying its wealth management units attracted 10.9 billion Swiss francs ($12 billion) in net new funds, more than the 8.8 billion-franc estimate of analysts surveyed by Bloomberg.