Our Funds

The Parnassus Asia Fund will be liquidated on March 29, 2018.

Parnassus Asia Fund

Institutional Shares


Capital appreciation.


The Parnassus Asia Fund invests with high conviction in approximately 40 holdings.The Fund focuses on identifying companies with:

  • Wide moats or strong competitive advantages that protect market share and profitability
  • Relevancy over the long term, which provides a compounding growth component
  • Quality management teams that will act in the best interest of shareholders
  • Favorable three-year investment horizon

The Fund provides access to equity securities of Asian companies across the capitalization spectrum. Diversification across the Asian region can serve to mitigate impact from any single country's equity market fluctuations. The Fund 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 assets levels of individual companies and in response to general domestic and international market and economic conditions.

There are additional risks associated with foreign investments, such as increased market volatility, a lower level of government oversight in emerging markets, risks associated with focusing on a specific geographic region and exposure to fluctuations in foreign currencies. In addition to large-cap companies, the Fund may invest in small and/ or mid-cap companies, which can be more volatile than large-cap firms. Security holdings in the Fund can vary significantly from broad market indexes.

Fund Facts

Ticker PFPSX
CUSIP 701765604
Minimum Investment $100,000
Gross Expense Ratio 1.10 %
Net Expense Ratio* 0.96 %
Inception Date 4/30/2015
Fund Manager,
Since July 2014

Billy J. Hwan
Fund Strategy Multi-Cap
(Asia Pacific Equity)
Lipper Category Pacific Region
Distribution Frequency Annually
Share Class Assets $5MM
Total Net Assets1 $12MM

Change Share Class: View Investor Shares

Institutional Shares
Institutional Shares are generally for institutional investors and have a minimum investment of $100,000. Institutional Shares are available to investors who invest directly in the Fund as well as those who invest through certain intermediaries. The minimum initial investment may be waived for group retirement plans. Please see the prospectus for more details.

Investor Shares
Investor Shares are generally for individual investors have a minimum investment of $2,000, which may be reduced to $500 for IRAs and certain custodial accounts. Please see the prospectus for more details.


* Expenses based on total net assets, net of reimbursement.

As described in the Fund’s current prospectus dated May 1, 2017, Parnassus Investments has contractually agreed to limit total operating expenses to 1.22% of net assets for the Parnassus Asia 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.

1Total net assets represent the combined assets of Institutional Shares and Investor Shares.