All the Parnassus Funds are no-load funds, meaning there's no up-front sales charge on our funds. Expense ratios
include gross expenses and expenses net of contractual waivers as described in the Funds current prospectus dated
May 1, 2017.
1As described in the Fund’s current prospectus dated May 1, 2017, Parnassus
Investments has contractually agreed to limit total operating expenses to 0.95% of net
assets for the Parnassus Endeavor Fund—Investor Shares, 0.83% of net assets for the
Parnassus Endeavor Fund—Institutional Shares, 0.99% of net assets for the Parnassus
Mid Cap Fund—Investor Shares, 0.85% of net assets for the Parnassus Mid Cap Fund--Institutional Shares,
0.68% of net assets for the Parnassus Fixed
Income Fund—Investor Shares and to 0.58% of net assets for the Parnassus Fixed Income
Fund—Institutional Shares. This agreement will not be terminated prior to May 1, 2018,
and may be continued indefinitely by the Adviser on a year-to-year basis.
The net expense ratio is what investors pay.
2 The fund category average benchmarks shown are the mean total expense
ratios of each fund's peer group as classified by Lipper as of April 30, 2016. Lipper's
data and analyses are for informational purposes only, and do not constitute investment
advice or an offer to sell or the solicitation of an offer to buy any security of
any entity in any jurisdiction.