The Artisan China Post-Venture team discusses where they are seeing the most interesting opportunities in Chinese health care today and some of the risks investors should be mindful of when looking at these types of businesses.

This material represents the views and opinions of Tiffany Hsiao, Yuanyuan Ji and Dr. Jian Gong as of 5 December 2022, which are based on current market conditions, will fluctuate, and are subject to change without notice. While the information contained herein is believed to be reliable, there no guarantee to the accuracy or completeness of any statement in the discussion. This material is for informational purposes only and should not be considered as investment advice or a recommendation of any investment service, product or individual security. Any forecasts contained herein are for illustrative purposes only and are not to be relied upon as advice or interpreted as a recommendation.

For the purpose of determining the portfolio’s holdings, securities of the same issuer are aggregated to determine the weight in the Strategy. The holdings mentioned comprised the following percentages of a representative account within the Artisan China Post-Venture Strategy Composite's total net assets as of 31 Oct 2022: Genscript Biotech Corp, 1.2%; Keymed Biosciences Inc, 2.9%. The listing of holdings does not constitute investment advice or a recommendation of any individual security. Portfolio holdings are subject to change without notice and are not intended as recommendations of individual securities.

Unless otherwise indicated, the Artisan Strategy characteristics relate to that of an investment composite or a representative account managed within a composite. It is intended to provide a general illustration of the investment strategy and considerations used by Artisan Partners in managing that strategy. Individual accounts may differ, at times significantly, from the reference data shown due to varying account restrictions, fees and expenses, and since-inception time periods, among others. Where applicable, this information is supplemental to, and not to be construed with, a current or prospective client’s investment account information.

Artisan China Post Venture Strategy Investment Risks: Current and future portfolio holdings are subject to risk. International investments involve special risks, including currency fluctuation, lower liquidity, different accounting methods and economic and political systems, and higher transaction costs. These risks typically are greater in emerging and less developed markets, including frontier markets. Securities of small- and medium-sized companies tend to have a shorter history of operations, be more volatile and less liquid and may have underperformed securities of large companies during some periods. Growth securities may underperform other asset types during a given period. A portfolio focused on greater China will be closely tied to market, currency, economic, political, environmental, or regulatory conditions and developments in the region, and may fluctuate more than the returns of a more geographically diversified portfolio. Investments will rise and fall with market fluctuations and investor capital is at risk. Investors investing in strategies denominated in non-local currency should be aware of the risk of currency exchange fluctuations that may cause a loss of principal. These risks, among others, are further described in Artisan Partners Form ADV, which is available upon request.