SUMMARY.1. The diversity, value and status of the trout resource within the Welsh Water Authority area is described.2. Reported angling catches of sea trout have increased in recent years but there is an apparent decline in brown trout stocks. Factors affecting the distribution, status and diversity of the trout resource are identified and discussed.3. Investigations are being carried out to evaluate the apparent problems and to provide information required to formulate management solutions. A management strategy is proposed which allows for the maintenance and development of the resource, whilst ensuring the preservation of strains of trout which have conservation value in their own right.