Parnassus Equity Income Fund added to Charles Schwab's Mutual Fund OneSource Select List™
The Parnassus Equity Income Fund (PRBLX) has been named to Charles Schwab’s ("Schwab") Mutual Fund OneSource Select List for the third quarter of 2012.
San Francisco, California – November 28, 2012
The Parnassus Equity Income Fund (PRBLX) has been named to Charles Schwab's ("Schwab") Mutual Fund OneSource Select ListTM for the third quarter of 2012. The Mutual Fund OneSource Select List is a list of no-load and no-transaction fee mutual funds that have passed rigorous screening for performance, risk, and expenses by the Charles Schwab Investment Advisory, Inc.
"We know how rigorous the selection process is at Schwab, so we are honored to have been added to the Mutual Fund OneSource Select List,” says Portfolio Manager Todd Ahlsten. “I’m confident that my team’s clear and repeatable investment approach will yield attractive risk-adjusted returns for our shareholders for many years to come."
The Parnassus Equity Income Fund invests principally in undervalued equity securities of large-capitalization companies. At least 75% of the Fund’s total assets will normally be invested in equity securities that pay dividends. The Fund seeks to invest in good businesses that have increasingly relevant products or services, sustainable competitive advantages, quality management teams and ethical business practices. The Fund also takes environmental, social and governance factors into account in making investment decisions. As of September 30, 2012, the Parnassus Equity Income Fund's assets totaled $4.8 billion.
The Parnassus Equity Income Fund also appears on the Charles Schwab Income Mutual Fund Select ListTM. The Fund has been on the list since 2010.
The adviser to the Parnassus Equity Income Fund is Parnassus Investments, an independent and employee-owned investment management company based in San Francisco, CA. The firm seeks to invest in good businesses that have increasingly relevant products or services, sustainable competitive advantages, quality management teams and ethical business practices. Parnassus Investments believes the most attractive opportunities for investments arise when companies with good business fundamentals become temporarily undervalued. The firm's goal is to provide value to its shareholders by generating attractive risk-adjusted returns over the long-term. The firm was founded in 1984, and currently manages five fundamental, U.S., core equity strategies across multiple market capitalizations, and one U.S., intermediate, government/credit fixed-income strategy. For more information about Parnassus Investments, visit www.parnassus.com.
More information on the Charles Schwab Mutual Fund OneSource Select List, as well as the full list of funds, can be found on the Mutual Funds page of the Charles Schwab website under OneSource Select List.
The OneSource Select List is provided for informational purposes and should not be considered as an individualized recommendation. Schwab produces the list quarterly to help investors navigate the vast number of funds available through Schwab and identify funds that might be appropriate for their portfolios.
Mutual fund investing involves risk, and loss of principal is possible. Common stock prices fluctuate based on changes to a company's financial condition and on overall market and economic conditions. In addition to large-cap companies, the Parnassus Equity Income Fund may also invest in small- and mid-cap companies,
which can be particularly sensitive to changing economic conditions and have fewer financial resources than large-cap companies.
The Parnassus Funds are underwritten and distributed by Parnassus Funds Distributor, a subsidiary of Parnassus Investments and a FINRA member.
Before investing, an investor should carefully consider the investment objectives, risks, charges and expenses of the fund and should carefully read the prospectus or summary prospectus, which contains this information. A prospectus or summary prospectus can be obtained on the website, www.parnassus.com, or by calling (800) 999-3505.