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Parnassus Investments announces the promotions of two members of the investment team effective July 1, 2014

San Francisco, California – June 11, 2014

Ryan S. Wilsey, who joined Jerome Dodson, as a Co-Portfolio Manager of the Parnassus Small Cap Fund in 2011, will become sole Portfolio Manager of the Fund. Mr. Wilsey will be working closely with Chief Investment Officer, Todd Ahlsten, so that Mr. Dodson can focus his attention on the other funds he manages.

Senior Research Analyst Billy Hwan will join Jerome Dodson as Co-Portfolio Manager of the Parnassus Asia Fund. Over the past year, Mr. Hwan has been an integral part of the decision making process for the Fund and has contributed to its performance.

About Ryan S. Wilsey
Ryan S. Wilsey is the Portfolio Manager of the Parnassus Small Cap Fund and a Senior Research Analyst. He joined Parnassus Investments in 2009 and was previously a Parnassus research intern. He has been a professional investor in both public and private equity since 2001. His prior experience includes work at Summit Partners, Greylock Partners and Scout Capital. Before he began his investment career, he worked at Opsware Inc., a software company that was later sold to Hewlett-Packard. Mr. Wilsey graduated Phi Beta Kappa and summa cum laude with a bachelor's degree in engineering from Princeton University and received his master's degree in business administration from Harvard Business School.

About Billy J. Hwan, CPA, CFA
Billy J. Hwan is a Portfolio Manager of the Parnassus Asia Fund and a Senior Research Analyst. He joined Parnassus Investments in 2012 and was previously a Parnassus research intern. His prior experience includes equity research at Dodge & Cox in San Francisco and at the Government of Singapore Investment Corporation. Mr. Hwan received his bachelor's degree in engineering from Stanford University and a master's degree in accountancy from the University of Houston. He graduated with honors from the University of California, Berkeley with his master's degree in business administration. Mr. Hwan holds the CPA and CFA designations, and was a former Blakemore Freeman Fellow.

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Before investing, an investor should carefully consider the investment objectives, risks, charges and expenses of a fund and should carefully read the prospectus or summary prospectus, which contain this and other information. The prospectus or summary prospectus can be found at www.parnassus.com or by calling (800) 999-3505. Investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original principal cost and you could lose money.

The Parnassus Funds are distributed by Parnassus Funds Distributor, an affiliate of Parnassus Investments and a FINRA member.

Media Relations
Vidya Nathu
Parnassus Investments
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P: (415) 778-2634