Trustee investment power permits purchase and retention of redeemable securities subject to statutory redemption and premium limits. A trustee may invest in permitted classes of securities even if redeemable and purchased at a price exceeding redemption value, but statutory constraints limit purchases of certain short-dated or specified classes where redemption occurs on fixed terms and cap permissible premiums for particular categories; a trustee may retain any such redeemable stock, fund or security until redemption.