The correct answer is E. The Trustee Act 2000 significantly expanded the investment powers of trustees. Under the Act, trustees can invest in a wide range of assets, including land, shares, mortgages, and debentures. This represents a broader investment authority compared to previous legislation. Trustees must, however, act prudently and in the best interests of the beneficiaries, adhering to the statutory duty of care when making investment decisions. 

Key Point: The Trustee Act 2000 grants trustees extensive investment powers, allowing them to diversify investments across various asset classes. Trustees must exercise these powers with due care and in accordance with their fiduciary duties.