The Parnassus Small-Cap Fund is a diversified, fundamental, U.S., small-cap,
core equity fund. The Fund invests principally in undervalued
equity securities of small-capitalization companies under $3 billion at the time
of initial purchase. The Fund seeks to invest in smaller companies with good businesses
that are still developing. The Fund also takes environmental, social and governance
factors into account in making investment decisions.
The Fund’s share price may change daily based on the value of its security holdings.
Stock markets can be volatile, and stock values fluctuate in response to the asset
levels of individual companies and in response to general U.S. and international
market and economic conditions. Security holdings in the fund can vary significantly
from broad market indexes.
The Fund invests in the stocks of smaller companies, which are generally riskier
than larger companies, and the Fund’s share price may be more volatile than funds
that invest in larger companies.