Every quarter, Canterbury's Outsourced CIO committee shares their observations of the market that impact the management of our discretionary portfolios in the Canterbury OCIO Review.
As one of the longest economic expansions in U.S. history persists, the news of the third quarter of 2019 focused on the financial impact of continuing trade wars, a potential global slowdown, geopolitical unrest, an inverted yield curve, central bank monetary policies, currency depreciation, market volatility, risk of a recession, and the potential impeachment of the U.S. President.
In spite of all the daily market swings that occurred during this past quarter, there was a relatively small change in the overall market for the full period. The simple balanced index — made up of 60% global equities (MSCI ACWI Index) and 40% global bonds (Barclays Global Aggregate Bond Index) — was up 0.3% for the full quarter. Most gains in the portfolio came from earlier in the year from both across most segments of the portfolio.
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.