b'Preface Jonas Hglund, co-founder and CEO of Arte CollectumIt has been an exciting start for Arte Collectum I. In March 2022, the funds basic prospectus was approved by Finansinspektionen, the Swedish Finan-cial Supervisory Authority. The fund was launched that spring. It is Swedens first fund with art as an underlying asset that is registered with Euroc lear and traded on an exchange. The interest in the fund exceeded our expecta-tions, and our belief that art should be a given part of a portfolio has been confirmed by reputable investors both institutional and private. Most of the funds investors are of course interested in art, but the fund has also appealed to investors who have noted that internationally established art combines good historical returns with low correlation to other asset classes, so that it can contribute to a better-diversified portfolio. We closed our first fund at the beginning of November last year and the volume exceeded 20 million euros.We went through due diligence processes with two banks, Nordea and SEB, and both approved and distributed the fund during 2022. These were instructive processes and confirmed that Arte Collectum and its fund struc-ture maintain a high professional level. The cooperation between the in-vestment and compliance committees has worked well. Each artwork has gone through a know-your-customer (KYC) and contractual process that includes PEP and sanction checks as well as approval in both committees. The investment committee requests certificates of authenticity, conserva-tion reports, and publication and exhibition histories from the seller, and the contract process when purchasing works has also worked well.Our ambition is to store the artworks in a well-thought-out way and to transport them longer distances only if necessary. As part of the work of re-ducing our climate footprint, we have rented a warehouse in Delaware, USA, to which we transport works purchased in the United States. Cooperation with insurance and transport companies has been successful.Last year we recruited Magnus af Petersens as Head of Curatorial Af-fairs for the portfolio manager, Arte Collectum AB. Magnus is one of Swe-dens leading curators ; he has been, among other things, Chief Curator at Whitechapel Gallery, London, Director of the Bonniers Konsthall, Stock-holm,andSeniorCurator,HeadofCollectionattheModernaMuseet, Stockholm. Magnus is responsible for exhibition planning and for lending the works in Arte Collectums collection. To highlight the artists and make Arte Collectums works publicly accessible, the investment committee and Magnus work actively to have the funds works included in leading museum exhibitions around the world and to be published in magazines and books.The funds investment strategy is to focus primarily on works by women and people from ethnic and cultural minorities who have historically been marginalized in the art market but whose artistic expression is now valued as a result of a revision of art history. By acquiring and actively managing this type of works, the fund promotes greater equality between men and women artists and contributes to a stronger position for ethnic and cultural minorities in the art market and society at large. Our activist focus on high-lighting and above all exhibiting the works of female and minority artists has attracted great interest and has been very well received in the interna-7 tional art industry, not least by artists, galleries, and museums.'