Balanced fund mandates dominate the investment industry in Canada. The Investment Funds Institute of Canada (IFIC) reports that as of March 31st, the balanced mandate makes up 48%1 of mutual fund assets. Depending on the manager, a balanced fund’s asset mix will be around 60% equities and 40% fixed income.

Silicon Valley Bank, Santa Clara, California, was closed on March 10, 2023, by the California Department of Protection and Innovation. The Federal Deposit Insurance Corporation was named receiver and will facilitate the unwinding of Silicon Valley Bank’s deposits and assets.