This book examines the establishment of trust funds by States and international organisations in respect of international development, environmental protection, fiscal stabilisation, democracy-building and others. It traces their fundamental legal attributes, their investment potential and legal status as investors and the legal means by which they are set up. The book examines the various decision-making and management models adopted in contemporary trusts, the fiduciary and other duties of the trustee and the status and rights of beneficiaries. Moreover, it examines the personality of trust funds, whether as mere accounts, informal associations, foundations under domestic law or even international organisations. Finally, the book discusses the potential of trust funds in enhancing participatory democracy, budgeting and governance, revenue sharing and fiscal management, as well as the role of environmental trust funds.