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Canterbury Outsourced CIO: First Quarter 2021 Commentary
April 15, 2021

Every quarter, Canterbury's Outsourced CIO committee shares their observations of the market that impact the management of our discretionary portfolios in the Canterbury Outsourced CIO Commentary.

As the first quarter of 2021 progressed, governments across countries made a concerted effort to move toward some semblance of normality. A decline in new COVID cases, vaccine availability, and the continued commitment by central governments to maintain accommodative policies have all contributed to improved economic activity, albeit at a very different pace in various regions.

The strong performance of the equity markets reflects that the financial markets may have discounted much of these near-term dynamics around the unwinding of the lockdowns. Where uncertainties remain is whether the tilt over time is likely to be around growth and inflation, or whether the uneven recoveries open roads further to economic divergence and the potential stagnation. We have incorporated a number of changes within our client’s portfolios over the last year, including a few manager changes where we believed their portfolio’s performance pattern was drifting outside of our range of expectations.

Access the Canterbury Outsourced CIO: First Quarter 2021 Commentary

Ms. Parekh is a member of the Board of Directors, a shareholder of Canterbury, and directs the Canterbury Outsourced CIO platform, which caters to institutions and private clients who wish to outsource day-to-day management of their portfolios to Canterbury. In that role, Ms. Parekh is the chair of the Canterbury Outsourced CIO Committee and a member of each of the firm’s five Manager Research Committees. She joined Canterbury in 1996 as the manager of analytics with responsibility for directing the firm’s account analysts and client services group. In that role, Ms. Parekh secured many of the asset allocation modeling and research software tools we use today. In 2001, she became the director of manager research, responsible for oversight of all manager, fund, and product research; maintenance of Canterbury’s proprietary research database; and chairing the Investment Manager Research Committee. Ms. Parekh graduated from the University of Hong Kong with a Bachelor of Arts in economics. She completed her Master of Business Administration at Shenandoah University.