Richard Hemming article in the Australian, page-7

Under the Radar also supports IMF as a "hold", despite its volatile earnings profile. A quote from the article, "Bentham IMF has a number of competitive edges on its international competition, which includes access to capital. Management is exploring the possibility of using third-party money to help finance the portfolio. Managing a pool of third-party funds invested in a range of cases averaging over two years a case in its portfolio attracts healthy and repeat management fees, which adds to profits without additional legal risks."
UTR values IMF's long term cashflow by the success rate (around 15%), multiplied by the size of the portfolio of legal cases, currently $3.44bn.