The Public Investment Fund was originally established in 1971 to invest in commercial projects. In addition to making select investments in a range of companies and assets domestically and internationally. The Fund has contributed to the establishment of numerous Saudi Arabian companies, supporting innovation, diversification and non-oil sector development in the Kingdom. In March 2015, the Council of Ministers issued a decree to transfer oversight of the Public Investment Fund to the Council of Economic and Development Affairs (CEDA). A new Board of Directors was appointed, chaired by His Royal Highness Crown Prince Mohammed Bin Salman Bin Abdulaziz, Chairman of CEDA. The Public Investment Fund aims to be a global investment powerhouse and the world’s most impactful investor, enabling the creation of new sectors and opportunities that will shape the future global economy, while driving the economic transformation of Saudi Arabia. The Public Investment Fund has a diverse portfolio made up of a significant number of investments, of which around 20 are listed on the Tadawul, the Saudi Stock Exchange. The Fund is building an investment portfolio that is diversified and risk-adjusted across sectors, geographies and assets classes. All investments are primarily based on economic and financial criteria, with a focus on achieving attractive long-term financial returns.