Upon the advise of my financial advisor, I opened a leveraged investment account in September, 2006 with Transamerica Life.

I borrowed $100K from a financial institution at Prime+0.5 and purchased:

• TLC874: imaxx TOP Agressive Growth GIP DSC(75/100)
• TLC882: imaxx TOP Canadian Managers GIP DSC(75/100)

Initially the investment was doing pretty well,with all the turmoil in the market is this is the update:

As of 8Jan2008 value:
TLC874: 46839.95
TLC882: 49803.37
Total    : 96643.32
If I want to sell them the penalty is 4088.776, after 2011 there will be no penalty.
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As of 29Oct2008 value:
TLC874: 32275.89
TLC882: 36533.75
Total    : 68809.64
If I want to sell them the penalty or DSC is 3271.02, after 2011 there will be no penalty.

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As you can see, loosing about 32K, don't know where the loss stands as we speak.

To summarize, before you get into this kind of investment, make sure you understand what you are getting into.  So if I wanted to  get out on 29th October, 200, I would have to pay $3271.02 in DSC charges and also settle the loan with $31190.36 out of my pocket. Not to forget the interest charges I have to incur which are about $400 per month, lucky that the interest rates are so low.

So far I will hold on to this investment on hopes my interest charges don't go up and marekt recovers by 2011, until then it is a huge loss.