The Parnassus Small Cap fund will be merged into the Parnassus Mid Cap Fund and will
cease accepting new investments on March 16, 2015. For details regarding the merger,
here to view the prospectus supplement.
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
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.