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UBS Falls on Warning Franc, Interest Rates May Hurt Profit

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UBS Group AG fell after reporting lower-than-expected earnings at its wealth management division and warning that negative interest rates may hurt profitability.

UBS fell 2.6 percent to 15.68 Swiss francs at 7:56 p.m. in Zurich, bringing the drop this year to 8.3 percent. The bank said on Tuesday the wealth-management unit attracted 3 billion francs ($3.3 billion) in net new funds in the fourth quarter, down from 9.8 billion francs in the previous three months.