Equity Income Fund - Institutional Shares
Fund Overview
Fund Highlights
- This fund invests in larger companies whose securities pay interest or dividends.
- Portfolio Manager Todd C. Ahlsten was rated by Barron's in the Top 100 Managers for 2003 and 2004.*
- The fund manages risk by taking a conservative approach to investing. It looks to preserve capital in down markets while participating in up markets.
- At least 80% of the fund is invested in securities that pay interest or dividends.
Fund Risks
- The fund invests in common stocks, which represent the lowest position in a company's capital structure. Common stock prices can be volatile and fluctuate based on companies' financial condition and overall market conditions.
- The fund invests in bonds, whose values are subject to changes in interest rates, the credit of the company, and the ability of the fund to sell the securities. Bond fund shares are not guaranteed and return of principal is not guaranteed. Bond fund's shares will fluctuate with the price of the underlying bonds and may be worth more or less than their original cost.
Fund Manager
Todd C. Ahlsten
Todd C. Ahlsten, the Portfolio Manager for the Equity Income Fund, has worked at Parnassus since 1995, starting as a research analyst.
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*The system utilized by Barron's to rank managers primarily seeks to measure risk adjusted relative performance. It rewards points to managers who generate more stable returns, and subtracts points from funds that are too volatile. As portfolio manager for Parnassus Equity Income Fund, Todd Ahlsten was ranked 43 out of 650 managers in 2003 and ranked 74 out of 536 managers for 2004.