An asset management company (AMC) manages the funds raised from the investors, but it is required to appoint mutual fund trustees who will act independently to protect unitholders' interests. Trustees must regularly review the AMC's operations to make sure there are no violations. For example, the trustees are required to check transactions done by key management personnel of the AMC in their own name and those on behalf of the AMC, and report any wrongdoings to SEBI. Trustees are required to track investor complaints and make sure that they are addressed. They can also stop AMCs from launching new schemes if any irregularity is found.