Be careful with this company's management. I had a quick scan...

Be careful with this company's management. I had a quick scan through the annual report, one sentence jumped out: "The Group’s long running and stable IRR over a sustained period in the low 80% and ROIC of 138% demonstrates LCM’s depth of knowledge and experience in the sector and its ability to select and manage investments over an extended investment period."

For the previous 5 years (as far back as publicly available) they lost money on litigation funding every year, that's right, every single year, in other words they spent total $28m in litigation funding and only got back $6.5m, a 77% loss. They raised equity each year to cover their losses and fund more litigations, until they turned to debt in FY16 and borrowed $7.5m, in FY17 they spent $8.1m in litigation funding and only got back $3.4m, so they turned to IPO to get public financing, otherwise would've ran out of cash to fund more litigations with a $7.5m debt bomb. In FY18 they more than doubled their "investment", great stuff, the absolute gain from 2018 basically offset all previous years of "investment" losses. To aggregate the figures together to mask their terrible track record is misleading enough, to publicly gloat their "ability to select and manage investments over an extended investment period" is as comical as outright deception imo.