PIF | Governance and Investment Decisions

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data-variantitemid="{DEC3C4EF-ACE6-41F9-9C63-45ACE1983588}">Our Leadership</a></div> </li> <li class="item2 odd last"> <div class="field-link"><a data-variantfieldname="Link" href="/en/who-we-are/our-history/" data-variantitemid="{0A75995D-4726-4011-8E69-0BF8D6B41CF3}">Our History</a></div> </li> </ul> </div> </div> <div class="component link-list nav-mobile col-12"> <div class="component-content"> <h3>Our Investments</h3> <ul> <li class="item0 odd first"> <div class="field-link"><a data-variantfieldname="Link" href="/en/our-investments/" data-variantitemid="{EBBF7E2D-85B0-48BF-86F7-2726B21A9899}">Our Investments</a></div> </li> <li class="item1 even"> <div class="field-link"><a data-variantfieldname="Link" href="/en/our-investments/our-portfolio/" data-variantitemid="{C2015D0A-E1F1-46CD-9F77-846DED78A2CE}">Our Portfolio</a></div> </li> <li class="item2 odd"> <div class="field-link"><a data-variantfieldname="Link" href="/en/our-investments/giga-projects/" data-variantitemid="{D97E15B4-8E8F-4982-8DD0-036BABBDD24B}">Giga-Projects</a></div> </li> <li class="item3 even"> <div class="field-link"><a data-variantfieldname="Link" href="/en/our-investments/investment-pools/" data-variantitemid="{A2FEF8AF-FE23-4843-9A51-ECCC1895AB7B}">Investment Pools</a></div> </li> <li class="item4 odd last"> <div class="field-link"><a data-variantfieldname="Link" href="/en/our-investments/governance-and-investment-decisions/" data-variantitemid="{6338E6BA-06AD-4577-9CB9-5165B3E602B3}">Governance and Investment Decisions</a></div> </li> </ul> </div> </div> <div class="component link-list nav-mobile col-12"> <div class="component-content"> <h3>Our Strategy & Impact</h3> <ul> <li class="item0 odd first"> <div class="field-link"><a data-variantfieldname="Link" href="/en/strategy-and-impact/" data-variantitemid="{AB1E0F2C-E257-43AE-BCA6-4C3AFB19B76D}">Strategy & Impact</a></div> </li> <li class="item1 even"> <div class="field-link"><a data-variantfieldname="Link" href="/en/strategy-and-impact/the-program/" data-variantitemid="{A52BC989-855D-4E6E-BE79-DCC08509A714}">Our Program</a></div> </li> <li class="item2 odd last"> <div class="field-link"><a data-variantfieldname="Link" href="/en/strategy-and-impact/invested-in-better/" data-variantitemid="{C2294E2F-DBC3-4CB2-BF26-0048DD7B0315}">Invested in Better</a></div> </li> </ul> </div> </div> <div class="component link-list nav-mobile col-12"> <div class="component-content"> <h3>Investors</h3> <ul> <li class="item0 odd first"> <div class="field-link"><a data-variantfieldname="Link" href="/en/investors/" data-variantitemid="{44B399EF-C488-4656-A127-B637077EDF73}">Investors</a></div> </li> <li class="item1 even"> <div class="field-link"><a data-variantfieldname="Link" href="/en/investors/green-finance-framework/" data-variantitemid="{87F2AF72-735E-4431-B822-226F68287F8E}">Green Finance Framework</a></div> </li> <li class="item2 odd"> <div class="field-link"><a data-variantfieldname="Link" href="/en/investors/capital-markets-program/" data-variantitemid="{B6A2191D-2D9A-4B23-A6F0-8EF0ABF670F4}">Capital Markets Program</a></div> </li> <li class="item3 even"> <div class="field-link"><a data-variantfieldname="Link" href="/en/investors/annual-reports/" data-variantitemid="{AC6F4E45-DE7A-4BB3-8E0F-51E41BD9FAEB}">Annual Reports</a></div> </li> <li class="item4 odd"> <div class="field-link"><a data-variantfieldname="Link" href="/en/investors/financial-statements/" data-variantitemid="{409E0674-A462-451F-8628-99D5A8595BF6}">Financial Statements</a></div> </li> <li class="item5 even last"> <div class="field-link"><a data-variantfieldname="Link" href="/en/investors/credit-rating/" data-variantitemid="{BC0C3ACD-5D81-421A-84E4-6FEDC4AB02A4}">Credit Ratings</a></div> </li> </ul> </div> </div> <div class="component link-list nav-mobile col-12"> <div class="component-content"> <h3>News & Insights</h3> <ul> <li class="item0 odd first"> <div class="field-link"><a data-variantfieldname="Link" href="/en/news-and-insights/" data-variantitemid="{FAA89A34-5141-431C-96F1-D12C2F7E8A60}">News & Insights</a></div> </li> <li class="item1 even"> <div class="field-link"><a data-variantfieldname="Link" href="/en/news-and-insights/press-releases/" data-variantitemid="{4F189468-4EF9-421F-B811-68F390F1BE58}">Press Releases</a></div> </li> <li class="item2 odd"> <div class="field-link"><a data-variantfieldname="Link" href="/en/news-and-insights/newswire/" data-variantitemid="{D03033FF-DDF8-45EA-B258-C9F3BB5056FD}">Newswire</a></div> </li> <li class="item3 even"> <div class="field-link"><a data-variantfieldname="Link" href="/en/news-and-insights/global-insights/" data-variantitemid="{A2F0A92D-563D-4547-8760-98546161E848}">PIF Global Insights</a></div> </li> <li class="item4 odd"> <div class="field-link"><a data-variantfieldname="Link" href="/en/news-and-insights/in-the-media/" data-variantitemid="{97F18E13-230B-4A59-874B-AC7F9E7042C8}">In the Media</a></div> </li> <li class="item5 even last"> <div class="field-link"><a data-variantfieldname="Link" href="/en/news-and-insights/press-contacts/" data-variantitemid="{62CD71AC-E4E0-4A34-AD34-ACD9EADDB55E}">Press Contacts</a></div> </li> </ul> </div> </div> <div class="component link-list nav-mobile col-12"> <div class="component-content"> <h3>Private Sector Hub</h3> <ul> <li class="item0 odd first"> <div class="field-link"><a data-variantfieldname="Link" href="/en/private-sector-hub/" data-variantitemid="{FCCC9EC6-F57D-49CB-8110-A5DF7E9EF793}">Private Sector Hub</a></div> </li> <li class="item1 even"> <div class="field-link"><a data-variantfieldname="Link" target="|Custom" href="/en/private-sector-hub/private-sector-initiatives/" data-variantitemid="{455758A4-87EE-403F-904A-5798FEC49224}">Private Sector Initiatives</a></div> </li> <li class="item2 odd"> <div class="field-link"><a data-variantfieldname="Link" href="/en/private-sector-hub/explore-opportunities/" data-variantitemid="{993F5F7A-8AE9-4519-BD17-46ADDF6D0979}">Explore Opportunities</a></div> </li> <li class="item3 even"> <div class="field-link"><a data-variantfieldname="Link" href="/en/private-sector-hub/become-a-supplier/" data-variantitemid="{3DCC39B6-FEE2-4FCA-9A3D-481DF4EDD6DA}">Become a Supplier</a></div> </li> <li class="item4 odd"> <div class="field-link"><a data-variantfieldname="Link" href="/en/private-sector-hub/success-stories/" data-variantitemid="{C2CD350F-D0DF-43DC-898D-EECC0CD01CB0}">Success Stories</a></div> </li> <li class="item5 even"> <div class="field-link"><a data-variantfieldname="Link" href="/en/private-sector-hub/leadership-vision/" data-variantitemid="{44AAFA6F-8C68-43EE-8B92-1786FEF5170B}">Leadership Vision</a></div> </li> <li class="item6 odd last"> <div class="field-link"><a data-variantfieldname="Link" href="/en/private-sector-hub/faq/" data-variantitemid="{B6624DC9-9C74-4F68-A480-4A9FDA887C69}">FAQ</a></div> </li> </ul> </div> </div> <div class="component link nav-mobile col-12"> <div class="component-content"> <div class="field-link"><a data-variantfieldname="Link" href="/en/vendor-gate/" data-variantitemid="{37A960E9-10B7-4905-B37E-F4F2558E5148}">Vendor Gate</a></div> </div> </div> <div class="component link nav-mobile col-12"> <div class="component-content"> <div class="field-link"><a data-variantfieldname="Link" href="/en/managers-gate/" data-variantitemid="{35E7DEB0-DCC6-4850-889F-0C6D6DE3F211}">managers-gate</a></div> </div> </div> <div class="component link nav-mobile col-12"> <div class="component-content"> <div class="field-link"><a data-variantfieldname="Link" href="/en/careers/" data-variantitemid="{DC73727B-BCB0-4CC6-8E4C-3283F4750A21}">careers</a></div> </div> </div> <div class="component link nav-mobile col-12"> <div class="component-content"> <div class="field-link"><a data-variantfieldname="Link" href="/en/contact-us/" data-variantitemid="{164663B2-43E9-4759-8A96-494B12C45BB8}">contact-us</a></div> </div> </div> <div class="component link nav-mobile"> <div class="component-content"> <div class="field-link"><a data-variantfieldname="Link" href="/en/events/" data-variantitemid="{D3DE89EC-55CF-481A-89AA-A65B7E89A200}">Events</a></div> </div> </div></div> </div> <div class="col-12"> <div class="row"></div> </div> </div></div> </div> </div> <div class="component cta-blocks col-12"> <div class="component-content"> <a href="/en/contact-us/" class="btn-primary">Contact Us</a> </div> </div> <div class="component link-list col-12"> <div class="component-content"> <ul> <li class="item0 odd first"> <a href="https://www.facebook.com/pif/" target="_blank"><i class="fa-brands fa-facebook"></i></a> </li> <li class="item1 even"> <a href="https://www.instagram.com/publicinvestmentfund/?igshid=1j2de475jpgb4" target="_blank"><i class="fa-brands fa-square-instagram"></i></a> </li> <li class="item2 odd"> <a href="https://www.linkedin.com/company/pifsaudi" target="_blank"><i class="fa-brands 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data-properties='{"endpoint":"/en//sxa/search/results/","suggestionEndpoint":"/en//sxa/search/suggestions/","suggestionsMode":"ShowSearchResults","resultPage":"/en/search/","targetSignature":"","v":"{E270098D-195E-4F2A-A6B3-CF7053DB0ACD}","s":"{08A65602-6503-417E-9115-0FA17103D6A1}","p":3,"l":"","languageSource":"SearchResultsLanguage","searchResultsSignature":"","itemid":"{C35770DF-83C9-4B2D-8C27-481DFA83F280}","minSuggestionsTriggerCharacterCount":2}'> <div class="component-content"> <div class="pif-search-box-container"> <label for="piftextBoxSearch"> How can we help you? </label> <input type="text" class="pif-search-box-input" autocomplete="off" name="piftextBoxSearch" maxlength="100" placeholder="Search Public Investment Fund.." /> <button class="clear-input-btn"> <span></span> </button> <button class="search-box-button-with-redirect" type="submit"> Search </button> </div> <div class="pif-search-box-footer"> <div class="pif-search-box-count"> View All Results ({count}) </div> <div class="pif-search-box-viewall link-wrappers"> <a href="/en/search/" class="btn btn-primary">View all</a> </div> </div> </div> </div> <div class="component pif-popular-search col-12" data-search-result='/en/search/' data-targetsignature=""> <div class="component-content"> <div class="pif-popular-search-title"> Popular Search </div> <ul class="pif-popular-search-keywords"> <li data-key="Become a Supplier" data-value="Become a Supplier"> <div class="field-value">Become a Supplier</div> </li> <li data-key="PIF" data-value="PIF"> <div class="field-value">PIF</div> </li> <li data-key="Portfolio" data-value="Portfolio"> <div class="field-value">Portfolio</div> </li> <li data-key="Vendor Gate" data-value="Vendor Gate"> <div class="field-value">Vendor Gate</div> </li> </ul> </div> </div> </div> </div> </div></div> </div> </header>   <main> <div id="content" class="container-fluid"> <div class="row"> <div class="component container col-12"> <div class="component-content" > <div class="row"> <div class="component row-splitter"> <div class=" container container-fluid"> <div > <div class="row"> <div class="row component column-splitter"> <div class="col-12"> <div class="row"> <div class="component hero-banner standard-hero-banner col-12"> <div class="component-content"> <div class="image-block"><img src="/-/media/project/pif-corporate/pif-corporate-site/our-investments/governance-and-investments/governance-investment-banner.png" alt="Governance investment" /></div><div class="text-block"><div class="text-block-inner"><h1 class="field-title">Our Governance and Investment Decisions</h1><p class="field-description">PIF has developed and implemented a multi-faceted, world-class governance model to guide our domestic and global investment strategy and ensure the funds entrusted to us are well managed.</p></div><div class="button-wrapper dark-bg"><div class="row"> <div class="component media-link file-list-files col-12"> <div class="component-content"> <div class="file-description"><div><div class="field-filetypeicon"><span class="pdf"></span></div></div><div><div class="field-linktext"><a title="Pif law" href="/-/media/project/pif-corporate/pif-corporate-site/our-investments/governance-and-investments/pdf/pif-law-documents-en11.pdf" download="">PIF Law</a></div></div><div class="info-wrapper"><div class="file-size"><div class="field-size"><span>1.2 MB</span></div></div></div></div> </div> </div></div></div></div> </div> </div> </div> </div> </div></div> </div> </div> <div class=" container container-fluid"> <div > <div class="row"> <div class="row component column-splitter"> <div class="col-12"> <div class="row"> <div class="component breadcrumb navigation-title col-12 bg-white" id="custom-breadcrumbs"> <div class="component-content"> <nav> <ol> <li class="breadcrumb-item home"> <div class="navigation-title field-navigationtitle"><a title="Home" href="/en/">Home</a></div> <span class="separator"></span> </li> <li class="breadcrumb-item "> <div class="navigation-title field-navigationtitle"><a title="Our Investments" href="/en/our-investments/">Our Investments</a></div> <span class="separator"></span> </li> <li class="breadcrumb-item last"> <div class="navigation-title field-navigationtitle"><a title="Governance and Investment Decisions" href="/en/our-investments/governance-and-investment-decisions/">Governance and Investment Decisions</a></div> <span class="separator"></span> </li> </ol> </nav> </div> </div> </div> </div> </div></div> </div> </div> <div class=" container container-fluid"> <div > <div class="row"> <div class="component container col-12"> <div class="component-content" > <div class="row"> <div class="component row-splitter"> <div class=" container container-fluid"> <div > <div class="row"> <div class="row component column-splitter"> <div class="col-12"> <div class="row"> <div class="component content-block grid-width bg-white col-12 col-50-50 grid-medium-space-content image-left mob-gap-3 content-space-variant img-full-radius"> <div class="component-content"> <div class="content-wrapper"><div class="field-content sa"><h2 class="field-title">Investment Decisions</h2><div class="field-description"><p> The Fund monitors the performance of the portfolio companies by exercising its rights as a shareholder to maximize returns for all investors and achieve its strategic objectives.<br /> <br /> The Fund undertakes a clear, methodical, and professional mechanism when selecting its investment sectors, as it relies on an investment policy specific to each sector, and clarifies the investment aims of each of its portfolios. These mechanisms also offer necessary details such as permissible assets, assigned targets, key performance indicators, and risk tolerance. </p></div></div></div><div class="image-wrapper"><img src="/-/media/project/pif-corporate/pif-corporate-site/our-investments/governance-and-investments/investment-decision---updated.png" alt="Investment Decision" /></div> </div> </div> </div> </div> </div></div> </div> </div> <div class=" container container-fluid"> <div > <div class="row"></div> </div> </div> <div class=" container container-fluid"> <div > <div class="row"> <div class="row component column-splitter"> <div class="col-12 mb-5"> <div class="row"> <div class="component image file-type-icon-media-link col-12"> <div class="component-content"> <a title="Governance and Investments" href="#"><img data-src="/-/media/project/pif-corporate/pif-corporate-site/private-sector-hub/our-program/our-program-governance.png?h=776&iar=0&w=1998" alt="Our program governance" width="1998" height="776" data-variantitemid="{C7B24667-AA0D-4C31-845E-43D8AF0A3A24}" data-variantfieldname="Image" class="lazy" /></a> </div> </div> </div> </div> </div></div> </div> </div> <div class=" container container-fluid"> <div > <div class="row"> <div class="component content-block text-block col-12 col-50-50 mob-gap-4 content-light-bg-round"> <div class="component-content"> <div class="text-wrapper"><h3 class="field-title">Governance Framework</h3><div class="field-subtitle"><p>At the institutional level, PIF reports to the Council of Economic and Development Affairs. It has a public legal personality, as well as financial and administrative independence. Different administrative levels are interconnected under the supervision of the PIF Board of Directors to ensure transparent communication, effective work and significant progress to achieve specific and clear results.</p></div></div><div class="content-wrapper"><div class="field-description"><ol> <li> <p>Appointments of PIF Board of Directors</p> </li> <li> <p>Formation of Board Committees</p> </li> <li> <p>Appointments of PIF Executive Management</p> </li> <li> <p>Formation of Executive Management Committees</p> </li> <li> <p>Information that should be disclosed to the public</p> </li> </ol></div><div class="row"></div></div> </div> </div> <div class="component content-block grid-width mob-gap-3 enhanced-content-block-with-logo content-block-width-65 col-12"> <div class="component-content"> <div class="content-wrapper"><div class="field-content sa"><div class="enhanced-subtitle-wrapper"></div><h3 class="field-title">External Investment Manager Selection</h3><p class="field-description"><p>PIF aims to generate value through a focused and diligent selection of investments in funds that are consistent with our long-term investment roadmap and strategic asset allocation. </p></p><div class="enhanced-button-wrapper"><div class="enhanced-btn-item field-normal-link field-link"><a data-variantfieldname="Link" href="/en/our-investments/governance-and-investment-decisions/external-investment-manager-selection/" data-variantitemid="{AA3D13DC-9C21-474C-B1AF-4EFA9869A867}">Learn more</a></div></div></div></div><div class="image-wrapper"><img src="/-/media/project/pif-corporate/pif-corporate-site/our-investments/governance-and-investments/external-managers-selections.jpg" alt="External Investment Manager Selection" /></div> </div> </div> <div class="component content-block text-block col-12 bottom-margin-60 content-green-bg-round"> <div class="component-content"> <div class="text-wrapper"><h3 class="field-title">Santiago Principles</h3><div class="field-subtitle"><p>Santiago Principles are a set of 24 generally accepted principles and practices (GAPPs) related to institutional governance and risk management frameworks of sovereign wealth funds (SWFs). By adhering to the Santiago Principles, SWFs can enhance their credibility, strengthen investor trust, and contribute to sustainable economic growth. The International Forum of Sovereign Wealth Funds (IFSWF) is an organization of global sovereign wealth funds entrusted to serve as a guide for its members towards aligning their practices with the Santiago Principles in a voluntary manner.</p> <style> .content-green-bg-round .component-content .text-wrapper .field-title { color: white !important; } .content-green-bg-round .component-content .text-wrapper .field-subtitle p { color: white !important; } .content-green-bg-round .component-content .content-wrapper .field-description p { color: white !important; } .file-list-files .component-content .file-description .field-linktext a{ color: white !important; } </style></div></div><div class="content-wrapper"><div class="field-description"><p>Though not a member of the IFSWF, PIF adopted the GAPPs wholeheartedly and fortified its commitment to the Santiago Principles through the publication of a self-assessment report, demonstrating alignment of its governance practices, risk management framework, and internal policies with all respective principles. This showcases the Fund’s determination to support and implement these principles and practices as part of its efforts to achieve the highest standards of excellence.</p></div><div class="row"> <div class="component media-link file-list-files col-12"> <div class="component-content"> <div class="file-description"><div><div class="field-filetypeicon"><span class="pdf"></span></div></div><div><div class="field-linktext"><a title="Santiago Principles" href="/-/media/project/pif-corporate/pif-corporate-site/our-investments/governance-and-investments/pdf/santiago-principles-self-assessment-report.pdf" download="">Santiago Principles Self-Assessment Report</a></div></div><div class="info-wrapper"><div class="file-size"><div class="field-size"><span>35.63 MB</span></div></div></div></div> </div> </div></div></div> </div> </div> <div class="component container col-12"> <div class="component-content" > <div class="row"> </div> </div> </div></div> </div> </div> <div class=" container container-fluid"> <div > <div class="row"> <div class="row component column-splitter"> <div class="col-12"> <div class="row"> <div class="component custom-content promo-cta-container col-12"> <div class="component-content"> <div><h2>Continue Browsing</h2></div><div class="cta-block-container container container-fluid"><div class="row component column-splitter"><div class="col-12 col-lg-6"><div class="row"> <div class="component cta-blocks cta-block col-12"> <div class="component-content"> <a href="/en/our-investments/our-portfolio/"> <div class="image-wrapper"> <img data-src="/-/media/project/pif-corporate/pif-corporate-site/cta-images/our-portfolio.png?h=203&iar=0&w=642" alt="Our portfolio" width="642" height="203" title="Our portfolio" class="lazy" /> </div> <div class="button-wrapper"> <h4 class="field-promotext field-text">Our Portfolio</h4> <div class="field-promolink field-link"><span></span></div> </div> </a> </div> </div> </div></div><div class="col-12 col-lg-6"><div 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