Our Funds

Our Funds

Parnassus Investments manages seven funds to meet your investment needs. We invest according to a disciplined research process, looking for undervalued companies with
good businesses. Our goal is to provide value to our shareholders by generating attractive risk-adjusted returns over the long-term.

Fund Name Symbol Fund Strategy Inception Date
Parnassus Fund PARNX Multi-Cap Core (U.S. Equity) 12/31/1984
Parnassus Core Equity Fund PRBLX Large-Cap Core (U.S. Equity) 8/31/1992
Parnassus Endeavor Fund PARWX Large-Cap Core (U.S. Equity) 4/29/2005
Parnassus Mid Cap Fund PARMX Mid-Cap Core (U.S. Equity) 4/29/2005
Parnassus Small Cap Fund PARSX Small-Cap Core (U.S. Equity) 4/29/2005
Parnassus Asia Fund PAFSX Multi-Cap (Asia Pacific Equity) 4/30/2013
Parnassus Fixed Income Fund PRFIX Intermediate, Investment-Grade (U.S. Fixed Income) 8/31/1992
Total % Returns as of 7/31/141 Quarter-End Performance  
YTD as of
8/29/14
3 Mo. 1 Yr. 3 Yr. 5 Yr. 10 Yr. Since
Inception2
Expense Ratio
Grossa Neta
Parnassus Fund 10.10 3.13 17.08 19.99 17.35 9.63 10.18 0.86 0.86
S&P 500 Index 9.88 3.02 16.93 16.77 16.76 7.98 11.27 NA NA
0.22 0.11 0.15 3.22 0.59 1.65 -1.09 NA NA
Parnassus Core Equity Fund
Investor Shares
9.20 1.45 17.67 17.52 16.19 10.35 10.83 0.87 0.87
S&P 500 Index 9.88 3.02 16.93 16.77 16.76 7.98 9.41 NA NA
-0.68 -1.57 0.74 0.75 -0.57 2.37 1.42 NA NA
Parnassus Core Equity Fund
Institutional Shares
9.37 1.50 17.89 17.73 16.39 10.52 10.37 0.69 0.69
S&P 500 Index 9.88 3.02 16.93 16.77 16.76 7.98 7.06 NA NA
-0.51 -1.52 0.96 0.96 -0.37 2.54 3.31 NA NA
Parnassus Endeavor Fund 11.23 4.28 18.74 19.21 17.46 NA 11.55 1.07 0.95
S&P 500 Index 9.88 3.02 16.93 16.77 16.76 NA 7.93 NA NA
1.35 1.26 1.81 2.44 0.70 NA 3.62 NA NA
Parnassus Mid Cap Fund 6.49 1.72 14.14 15.19 17.76 NA 9.26 1.14 1.14
Russell Midcap Index 10.56 2.46 16.36 16.34 19.29 NA 9.94 NA NA
-4.07 -0.74 -2.22 -1.15 -1.53 NA -0.68 NA NA
Parnassus Small Cap Fund -1.60 1.49 5.59 8.96 13.72 NA 9.18 1.20 1.20
Russell 2000 Index 1.77 -0.26 8.56 13.59 16.56 NA 8.82 NA NA
-3.37 1.75 -2.97 -4.63 -2.84 NA 0.36 NA NA
Parnassus Asia Fund 10.78 3.00 15.86 NA NA NA 11.42 5.08 1.25
MSCI AC Asia Pacific Index 6.87 9.35 15.96 NA NA NA 6.99 NA NA
3.91 -6.35 -0.10 NA NA NA 4.43 NA NA
Parnassus Fixed Income Fund 4.07 0.67 2.57 1.86 3.77 4.43 5.48 0.78 0.68
Barclays U.S. Aggregate Bond Index 4.80 0.94 3.97 3.03 4.46 4.80 5.91 NA NA
-0.73 -0.27 -1.40 -1.17 -0.69 -0.37 -0.43 NA NA

1 All returns greater than one year are annualized.

2 The inception date for the Parnassus Fund is December 31, 1984. The inception date for the Parnassus Core Equity Fund and Parnassus Fixed Income Fund is August 31, 1992. The inception date for the Parnassus Mid Cap Fund, Parnassus Small Cap Fund and Parnassus Endeavor Fund is April 29, 2005. The inception date for the Institutional Shares of the Parnassus Core Equity Fund is April 28, 2006.The inception date for the Parnassus Asia Fund is April 30, 2013.

a As described in Funds current prospectus dated May 1, 2013, Parnassus Investments has contractually agreed to limit the total operating expenses (exclusive of acquired fund fees and expenses) to 0.90%, 0.90%, 0.68%, 1.20%, 1.20%, 1.14%, 1.45% and 0.68% of the net assets of the Parnassus Fund, the Parnassus Core Equity Fund-Investor Shares, the Parnassus Core Equity Fund-Institutional Shares, the Parnassus Mid Cap Fund, the Parnassus Small Cap Fund, the Parnassus Endeavor Fund, Parnassus Asia Fund and the Parnassus Fixed Income Fund, respectively. This agremeent will not be terminated prior to May 1, 2014, and may be continued indefinitely by the Adviser on a year-to-year basis.

Performance shown for the Parnassus Core Equity Fund - Institutional Shares prior to the inception date of April 28, 2006 reflects the performance of the Parnassus Core Equity Fund-Investor Shares and includes expenses that are not applicable to and are higher than those of the Institutional Shares.

Performance data quoted represent past performance and are no guarantee of future returns. Current performance may be lower or higher than the performance data quoted, and the most recent month-end performance is available on the Parnassus website (www.parnassus.com). Investment return and principal will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than their original principal cost. The S&P 500 Index, the Russell Midcap Index, the Russell 2000 Index and the MSCI AC Asia Pacific Index are widely recognized indexes of common stock prices. The Barclays U.S. Aggregate Bond Index is a widely recognized index of fixed-income security prices. An individual cannot invest directly in an index. An index reflects no deductions for fees, expenses or taxes. Returns shown for the Funds do not reflect the declaration of taxes a shareholder would pay on the fund distributions or the redemption of fund shares. Prior to March 31, 1998, the Parnassus Core Equity Fund was a balanced fund. Prior to May 1, 2004, the Parnassus Fund charged a sales load of a maximum of 3.5%, which is not reflected in the total return figures.

Common stock prices fluctuate based on changes to a company's financial condition and on overall market and economic conditions. Small- and mid-cap companies can be particularly sensitive to changing economic conditions and have fewer financial resources than large-cap companies. Investments in the Parnassus Asia Fund are subject to the above risks, plus additional risks associated with foreign investments, such as increased market volatility, a lower level of government oversight in emerging markets, risks associated with focusing on a specific geographic region and exposure to fluctuations in foreign currencies. Investments in fixed-income securities are subject to interest rate risk, credit risk and market risk, each of which could have a negative impact on the value of the Fund's holdings.

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.

Daily Prices - NAV Historical Lookup
Fund Name Symbol Current Price
as of 8/29/2014
Previous Price
as of 8/28/2014
Price Change Percentage Change
Parnassus Fund PARNX $ 50.49 $ 50.29 $ 0.20 0.40 %
Parnassus Core Equity Fund
Investor Shares
PRBLX $ 39.85 $ 39.72 $ 0.13 0.33 %
Parnassus Core Equity Fund
Institutional Shares
PRILX $ 39.93 $ 39.79 $ 0.14 0.35 %
Parnassus Endeavor Fund PARWX $ 30.02 $ 29.93 $ 0.09 0.30 %
Parnassus Mid Cap Fund PARMX $ 26.73 $ 26.61 $ 0.12 0.45 %
Parnassus Small Cap Fund PARSX $ 28.26 $ 28.08 $ 0.18 0.64 %
Parnassus Asia Fund PAFSX $ 17.36 $ 17.36 $ 0.00 0.00 %
Parnassus Fixed Income Fund PRFIX $ 16.87 $ 16.90 $ (0.03) (0.18) %
Fund Name Commentary
Parnassus Fund HTML
Parnassus Core Equity Fund HTML
Parnassus Endeavor Fund HTML
Parnassus Mid Cap Fund HTML
Parnassus Small Cap Fund HTML
Parnassus Asia Fund HTML
Parnassus Fixed Income Fund HTML

This commentary is the portfolio manager commentary as taken from the most recent of the Fund's Annual, Semiannual or Quarterly reports. Links to the full reports are available on the commentary pages.