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.
After almost two years since the start of the pandemic, the world is still being impacted by COVID-19. A new variant of the virus has emerged, but the effect of the pandemic is slowly beginning to subside. Most people have developed some level of immunity to the virus, either through inoculation or infection. The global economy overall has also adapted to the virus as people have found ways to adjust their lifestyles to provide themselves with better protection and safety while still participating in economic activities. This resilience has allowed for the recovery in economic activity as well as a steady decline in unemployment and a greater increase in corporate revenue and profits.
In 2020, governments across most countries responded to COVID-19 with a broad set of monetary and fiscal stimulus, yet there has been considerable dispersion in the performance of the individual financial markets. U.S. equities continued to outperform their non-U.S. counterparts by a wide margin. For the year 2021, the Russell 3000 Index was up 25.7% while the MSCI EAFE Index was up 11.3% and the MSCI Emerging Markets Index returned -2.5%.
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.