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Parnassus Promotes Ian Sexsmith and Robert Klaber to Co-Leads of the Parnassus Fund

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SAN FRANCISCO, CA, May 1, 2018

Effective today, the Parnassus Fund will be managed exclusively by Robert J. Klaber and Ian Sexsmith. The fund’s U.S. multi-cap equity strategy and investment objective will not change. Jerome L. Dodson will no longer be a Parnassus Fund portfolio manager, but he will continue to share his insights with the Parnassus Fund team. Mr. Dodson is also the lead manager of the Parnassus Endeavor Fund and Chairman of Parnassus Investments.

According to Mr. Dodson, “The Parnassus Fund has performed well since its inception in 1984, and I’ve been honored to serve our investors from the beginning. After managing the fund with Ian and Robert for the past several years, I’m confident that investors will benefit from their investment acumen. I will continue to make myself available for advice as they carry forward our tradition of deep research and ESG integration.”

Mr. Sexsmith has been a portfolio manager on the fund for five years and a senior research analyst for seven years. He joined Parnassus Investments in 2011 after serving as a Parnassus research intern. His prior experience includes work at Scotiabank and TD Bank Financial Group in Toronto. Mr. Sexsmith received his bachelor of commerce degree from the University of Manitoba, Canada, and his master's degree in business administration from the University of California, Berkeley. He holds the CFA designation and is a member of the CFA Society of San Francisco.

Mr. Klaber has been a portfolio manager on the fund for two years and a senior research analyst for six years. He previously served as a Parnassus research intern. His prior experience includes positions at Neuberger Berman and City Light Capital. Mr. Klaber graduated Phi Beta Kappa and magna cum laude from Brown University. He earned a master of philosophy degree from the University of Cambridge as a Craig Cambridge Scholar and received his master's degree in business administration with honors from Harvard Business School.

The Parnassus Fund, the firm’s namesake fund, incepted its operations in 1984. The fund may invest in stocks of all market capitalization sizes, making it Parnassus’s most flexible investment strategy. All potential investments are thoroughly researched and vetted by the broad investment team. The fund invests primarily in domestic stocks issued by companies with strong moats, increasing relevancy and shareholder-focused management. Like all Parnassus funds, each investment must also meet rigorous environmental, social and governance criteria. In 2015, the Parnassus Fund became fossil fuel free.

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.



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