The Adelaide Film Festival Investment Fund was established in 2003 by the South Australian Premier, Mike Rann, to boost the local production of films. When the American festival director Peter Sellars was director of the 2002 Adelaide Festival of Arts, he commissioned five films. Four of those films won awards, including The Tracker, Beneath Clouds and Walking on Water. That success prompted the State Government to provide the Adelaide Film Festival (AFF) with a production investment fund, which the AFF administers. Up to $1,000,000 is made available over a two-year period. The Adelaide Film Festival Board selects projects, based on recommendations from the Festival Director, and the slate of pictures produced premieres at the event.