The board of trustees (or foundation board) acts as the highest strategic decision-making body of a foundation and at the same time performs a control function. The tasks of a board of trustees include the performance of core tasks that cannot be delegated, the representation of the foundation vis-à-vis the authorities, the conclusion of contracts (e.g. with asset managers), the preparation of the annual financial statements and the issuing of regulatory provisions (e.g. investment regulations / investment policy statement).