Slater & Gordon is garnering increased business investigating and prosecuting financial advisers for aggrieved retail investors impacted by the collapse of the Basis Yield Fund in 2007, and has entered an agreement with an Australian litigation funder for the purpose of pursuing these and other claims against advisers. While the firm refuses to name the allied litigation funder, Slater & Gordon litigation lawyer Mark Walter said he expects litigation funder involvement in claims relating to the failed hedge fund will "allow consumers to access justice" in disputes with advisers, over the possible negligence of their financial advice.

Walter said while he assumes other class action firms would be equally interested in the increased work flowing from the collapse, he said Slater & Gordon has been among the most active, due to what he calls a long history of acting for consumers on investment matters and its willingness to pursue difficult claims. The firm has previously been involved in class actions for Storm Financial investors, and is currently pursuing further class actions against investment bank Goldman Sachs and stockbroker Bell Potter Securities. While the current Basis-related matters are being pursued individually, the firm has not ruled out a group approach.

A determination from the Financial Ombudsman Service in September 2009 found that a financial planner had misrepresented a fund of Basis Capital, which offered the Basis Yield fund. The decision set a precedent for further legal action, which Walter said Slater & Gordon is now taking to the prosecution stage.