The fund is open-ended and does not have a fixed cap or limit on the amount it can raise. There are minimum investment requirements for the different share classes, please refer to the ‘key facts’ section for further information.

The subscription fees are up to 5%. There is a fund administration charge of 0.6% per annum, reducing to 0.15% per annum as the fund size increases.

There are also performance fees and redemption charges that vary according to the share class. The ‘Net Asset Value’ or ‘NAV’ quoted is net of all costs.

The repayment of monies from Disputes funded by the Phoenix Legal Financing Fund I including interest, fixed fees and success fees, achieves capital growth.

You may withdraw money from your investment at any time, subject to the
redemption procedures and timescales for each share class detailed in the ‘key facts’ section and also in the Phoenix Legal Financing Fund I investor Supplement.

Progress of your investment can be tracked on www.Phoenix-funds.com. You will also receive a monthly update of the value of your holding in the Phoenix Legal Financing Fund I from Apex Fund Services in their role as administrators of the Phoenix Legal Financing Fund I. You may also authorise that these updates be sent to your Financial Advisor.

Additionally you will be sent information each month from Centaur Asset
Management and can also view your investment on Apex Fund Services fund platform www.apexfunds247.com

Centaur’s policy includes establishing a diversified portfolio of Disputes to include a mixture of:

• Brief duration and/or lower yielding Disputes intended to produce
  short-term returns;
• Medium duration and/or higher yielding Disputes intended to produce short to medium term returns; and
• Longer duration and/or higher yielding Disputes intended to produce medium to longer term returns.

Yes, see insurance section.

The Phoenix Legal Financing Fund I is established in Bermuda, which does not impute Bermuda tax. However your returns on your investment may be subject to taxation depending on your local tax regulations and your own tax circumstances. Please consult your own financial or tax advisor if required to determine your own tax position.

Anyone over 21 may subscribe for shares in the fund with a value of $10,000 USD or £6,000 GBP or above subject to completing the relevant subscription form and such subscription being accepted by the fund, Apex Fund Services as the funds administrator and Centaur Asset Management.

The return is reported monthly as the ‘Net Asset Value’ or ‘NAV’ of the shares of the fund. This shows the performance on a monthly basis.

Only law firms authorised and regulated by the Law Society of England and Wales (or equivalent in other jurisdictions) and those holding up to date Professional Indemnity Insurance will be considered. Firms also need to demonstrate they have the experience and infrastructure to manage cases effectively and efficiently.

The benefits to a potential claimant of obtaining funding from the Phoenix Legal Financing Fund I for his or her Dispute include:

• Enables the law firm to take on more cases and expand more quickly
  (most cases come through referrals from law firms);
• Without funding, pursuit of a claim may be prohibitive to a claimant in terms of costs which may result in a valid and potentially successful claim not being brought;
• Funding provides the claimant with financial certaint y enabling better inhibitive strategic planning and decision making together with legal counsel;
• Funding is generally unavailable from traditional funding sources such as banks as it is a specialised market (South African bank, Investec, announced in November 2012 that they have setup a UK litigation funding department for cases up to 10m GBP); and
• It can often help bring a resolution much quicker, as often when a small claimant is up against a larger counterpart y (such as a bank or a government body) one of the main tactics of such counterpart y is to outspend the claimant. If the claimant has the backing of funding it can help encourage the counterpart y to settle early.