UBS Clients Raise $650 Million for Biggest yet Biotech Impact Fund

The logo of Swiss bank UBS is seen at a branch office in Zurich, Switzerland, on June 22, 2020. Arnd Wiegmann/Reuters

ZURICH—UBS’s wealthy clients have raised $650 million for the biggest biotechnology impact fund ever, the Swiss bank said on Wednesday.

Impact investing—a term coined in 2007—grew out of the desire to extend philanthropic goals into mainstream financial holdings.