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Derrin Raffey, chief financial officer at St Thomas More College (STM) in Saskatoon, Saskatchewan, Canada, oversaw STM's investment trust. With a value of more than CAD22 million, managing the trust required careful consideration of various factors, including management fees, performance, the appropriateness of the holdings, and relationships with investment managers. At times, the trust had held investments that were not appropriate, given the college's religious values. However, with the hiring of a new investment manager, switching from pooled fund investment to discretionary investment became an option. As STM did not have a formal process or template for reviewing investment managers, developing these was a priority. Finally, there was the question of what strategy STM should adopt - was it possible for STM to balance its need for growth and returns against other factors such as the college's religious ethos and the wishes of its various stakeholders?