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To enhance beneficiaries' lives with compassion and superior service
To act in the best interests of beneficiaries by providing excellent service at the lowest cost and ensuring safe and effective investment of their funds
Funds in Court [FIC] is the office of the Supreme Court of Victoria that administers funds paid into Court for and on behalf of people under a disability (beneficiaries). The Senior Master, who is an Associate Judge of the Supreme Court, is responsible for administering the funds paid into Court.
The responsibility of the Supreme Court for the administration of the funds ensures that those funds are managed in a manner that is dependable, accountable and transparent. The funds are managed pursuant to the Supreme Court Act 1986, the Supreme Court (General Civil Procedure) Rules 2005 and other relevant legislation. FIC's investment and governance practices conform to financial industry and public sector best practice. The financial reports of the Senior Master are audited annually, on a financial year basis, by the Auditor-General.
The funds in Court are held for private individuals. As such, we at FIC are aware of our responsibility to provide beneficiaries with all the necessary information about how their funds are invested and utilised. This website is a key part of our commitment to provide beneficiaries, their families and all those interested in FIC with all the information required to understand:
- Who we are
- What we do
- Who we help
- How we do what we do
- How we make sure beneficiaries’ funds are safe
FIC is a self-funded, not-for-profit division of the Court committed to providing the best quality service to ALL beneficiaries, in the most efficient and cost-effective manner. Guided by our vision and mission, and conscious of our responsibilities to the beneficiaries and the Court, we strive to:
- provide the best possible service;
- at the lowest cost;
- and invest the funds to provide superior returns without undue risk.
The FIC service model does not discriminate as to the category of beneficiary, amount of funds held, or the number or type of services accessed. Our sole focus is to be responsive to the needs and wishes of beneficiaries. FIC will always support beneficiaries in making decisions about the use of their funds. Each beneficiary is assigned a dedicated Trust Officer.
The function performed today by FIC has been part of the Court’s jurisdiction since its establishment in 1852. It stems from the Court’s inherent jurisdiction to exercise its parens patriae power for the protection of the person and property of minors and people under a physical or intellectual disability.
To assist you in understanding FIC better, we recommend you go to our FAQ page. There you will find answers to most common questions about FIC’s operations. You will also find links to webpages providing more detailed information.
Our site is split into three areas:
You can switch between these sites by using the tabs at the top.