The Trust Deed has a specific set of objectives. Its key focus is on 

• enhancing fishery and wildlife habitat
• enhancing whitebait fishery habitat
• providing for public access to resources
• education/information about habitats and fisheries and wildlife values
• lake fisheries research.
• general advocacy about fishery and wildlife habitats.

Many species benefit from habitat enhancement. These brown trout, eel, koura (fresh water crayfish) and upland bully show that the waterway where they are has a good level of water quality.

The objectives are:

1. To identify and evaluate areas of the Waiau catchment worthy of protection, restoration, improvement, creation or procurement (primarily as fisheries and wildlife habitat) and to create habitat within the Waiau catchment.
2. In order to carry out the first purpose to negotiate, where appropriate the protection, restoration, improvement, creation or procurement of fisheries and wildlife habitat with landowners and to ensure the best possible public access to fisheries and wildlife resources.
3. To provide and maintain two access tracks for anglers’ access in the vicinity of Whare Creek and Redcliff Creek confluences such that advantage can be taken of the fishery.
4. In accordance with the first and second purposes, to provide for the creation of additional areas of whitebait habitat on land owned by ECNZ (now Meridian Energy Ltd) or held by the Minister of Conservation adjacent to the Waiau Lagoon as defined by studies carried out for the Waiau Working Party, as necessary.
5. To provide for the rearrangement and ongoing maintenance of the rock weir immediately below the Duncraigen Bridge identified in studies carried out by ECNZ as necessary to enhance the habitat for fish and the aesthetic sense of landscape values of the river between the weir and the Manapouri Lake Control Structure at minimum flows.
6. To provide for a study over 5 years of freshwater fish in Lakes Manapouri and Te Anau to demonstrate the present state of the fisheries and present trends.
7. To provide or assist with the provision of information or facilities to enhance the understanding of the public of the values for which the Trust was established.
8. Such further or other measures which, in the opinion of the Trustees will better provide for the matters set out in sections 5(2)(a), 5(2)(c). 6(a), 6(d), 7(a), 7(c), 7(f) and 7(h) of the Resource Management Act 1991.