This is the third in a series of assessment reports on the performance of conservation trust funds from 2006 to 2009. Conservation Trust Funds for (CTFs) are innovating mechanisms designed to ensure conservation and sustainable development over the long term. Of more than 50 CTFs established in Africa, Latin America, the Caribbean, Asia and Eastern Europe, the 39 taking part in the study manage a total of more than 450 M USD. They operate in a variety of ways, for example through endowment funds, redemption funds or revolving funds.