Choose carefully the fund managers and advisers they appoint.

Issue clear, definite and preferably written instructions to the fund managers and advisers.

Ensure that an investment manager agreement is put in place, setting out the duties and responsibilities of each party, clear investment guidelines and situations which should be separately disclosed to, or discussed with, the trustees.

Monitor the performance of the fund manager: insist on detailed quarterly reports setting out all the transactions in the quarter, check that each of the investments made are in line with fund guidelines and ask questions and question the answers if not satisfied.

Require that investment managers disclose any conflicts of interest that arise in carrying out their duties.