Our Firm

Parnassus Fund Surpasses $1 Billion

SAN FRANCISCO, CA, August 7, 2017

Parnassus Investments is pleased to announce that the Parnassus Fund (PARNX) has surpassed $1 billion in assets under management as interest in the Fund’s U.S. multi-cap responsible investment strategy continues to grow.

The Parnassus Fund was Parnassus’s first mutual fund, and its socially responsible track record now exceeds 30 years. The Fund is fossil fuel free and has the flexibility to find opportunities across the market cap spectrum. It is the only mutual fund in its peer group to have outperformed the S&P 500 Index over the 1, 3, 5, 10 and 25-year time periods.*

The portfolio management team is led by Jerome L. Dodson, founder and chief executive officer of Parnassus Investments. The Fund’s two other portfolio managers, Ian Sexsmith (since 2013) and Robert J. Klaber (since 2016), share Mr. Dodson’s contrarian investment philosophy. In 2016, the team was nominated for Morningstar’s U.S. Domestic Stock Fund Manager of the Year award.**

“We are passionate about generating value for our investors and are thrilled to have achieved this important milestone. As the Fund grows beyond $1 billion, we will continue to identify wide moat, increasingly relevant companies that meet our environmental, social and governance (ESG) criteria,” said Mr. Klaber.

“I’m extremely proud of the Parnassus Fund because we have maintained a steadfast focus on delivering Principles and Performance® through ESG integration for over 30 years,” added Mr. Dodson. “Surpassing the $1 billion asset level in all four of our domestic equity funds is a sign of the trust our investors have placed in us to help them build wealth responsibly over the long run.”

About Parnassus Investments

Founded in 1984, Parnassus Investments is a pioneer in socially responsible investments. Based in San Francisco, the firm invests responsibly to build wealth for its clients by selecting businesses that the investment team believes have increasingly relevant products or services, sustainable competitive advantages and quality management teams for their high conviction portfolios. Every investment must meet rigorous fundamental and environmental, social and governance (ESG) criteria.

The Parnassus Fund Investor Shares (PARNX) launched on 12/31/84 and the Institutional Shares (PFPRX) launched on 4/30/15.

Please direct investment inquiries to Kelly Brush, Manager of Advisor Relations, or Scott Liffick, Manager of Institutional Relations. Media inquiries can be sent to Joe Sinha, Director of Sales and Marketing.

*Morningstar, as of 12/31/16. Based on average annual performance of large cap funds over the 1, 3, 5, 10 and 25-year time periods.

**Morningstar, 1/12/17. More information on Morningstar’s 2016 U.S. Fund Manager of the Year Awards can be found here.

The Standard & Poor's 500 Composite Stock Price Index (also known as "the S&P 500 Index") is a widely recognized index of common stock prices. It is not possible to invest directly in an index. An index reflects no deductions for fees, expenses or taxes, but mutual fund returns do.

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, this Fund may invest in small and/or mid-cap companies, which can be particularly sensitive to changing economic conditions and have fewer financial resources than large-cap companies.

Mutual Fund investing involves risk, and loss of principal is possible.