He was paid an initial fee of 140,000.

Some firms also charge up to 5% as an initial fee, plus exit fees when clients move money elsewhere.

The 10m initial fee also includes various add-ons, which could ultimately take it as high as 15m.

The fund also has high charges — a 4% initial fee and a 2.5% annual charge.

It charges an initial fee of 1.5% and an ongoing 0.5%.