Our Funds

Our Funds

Parnassus Investments manages six funds to meet your investment needs. We invest according to a disciplined research process, looking for undervalued companies with
good businesses. Our goal is to provide value to our shareholders by generating attractive risk-adjusted returns over the long-term.

Fund Name Investor
Shares
Institutional
Shares
Fund Strategy
Parnassus Fund PARNX PFPRX Multi-Cap Core (U.S. Equity)
Parnassus Core Equity Fund PRBLX PRILX Large-Cap Core (U.S. Equity)
Parnassus Endeavor Fund PARWX PFPWX Large-Cap Core (U.S. Equity)
Parnassus Mid Cap Fund PARMX PFPMX Mid-Cap Core (U.S. Equity)
Parnassus Asia Fund PAFSX PFPSX Multi-Cap (Asia Pacific Equity)
Parnassus Fixed Income Fund PRFIX PFPLX Intermediate, Investment-Grade (U.S. Fixed Income)
Average Annual Total Returns as of 10/31/16 Quarter-End Performance  
YTD as of
12/2/16
3 Mo. 1 Yr. 3 Yr. 5 Yr. 10 Yr. Since
Inception2
Expense Ratio
Grossa Neta
Parnassus Fund
Investor Shares
9.40 1.11 0.88 8.26 15.57 8.77 9.87 0.84 0.84
S&P 500 Index 9.45 -1.67 4.49 8.82 13.54 6.69 10.88 NA NA
-0.05 2.78 -3.61 -0.56 2.03 2.08 -1.01 NA NA
Parnassus Fund
Institutional Shares
9.52 1.15 1.02 8.33 15.62 8.79 1.00 0.70 0.70
S&P 500 Index 9.45 -1.67 4.49 8.82 13.54 6.69 3.49 NA NA
0.07 2.82 -3.47 -0.49 2.08 2.10 -2.49 NA NA
Parnassus Core Equity Fund
Investor Shares
7.92 -1.30 2.85 7.49 13.67 9.01 10.35 0.88 0.87
S&P 500 Index 9.45 -1.67 4.49 8.82 13.54 6.69 9.15 NA NA
-1.53 0.37 -1.64 -1.33 0.13 2.32 1.20 NA NA
Parnassus Core Equity Fund
Institutional Shares
8.14 -1.26 3.04 7.69 13.87 9.22 9.41 0.67 0.67
S&P 500 Index 9.45 -1.67 4.49 8.82 13.54 6.69 6.95 NA NA
-1.31 0.41 -1.45 -1.13 0.33 2.53 2.46 NA NA
Parnassus Endeavor Fund
Investor Shares
17.91 4.66 9.85 13.03 17.05 11.23 11.38 0.98 0.95
S&P 500 Index 9.45 -1.67 4.49 8.82 13.54 6.69 7.66 NA NA
8.46 6.33 5.36 4.21 3.51 4.54 3.72 NA NA
Parnassus Endeavor Fund
Institutional Shares
18.16 4.72 10.13 13.17 17.13 11.27 7.31 0.75 0.75
S&P 500 Index 9.45 -1.67 4.49 8.82 13.54 6.69 3.49 NA NA
8.71 6.39 5.64 4.35 3.59 4.58 3.82 NA NA
Parnassus Mid Cap Fund
Investor Shares
14.43 -2.20 8.24 8.11 13.36 8.58 8.81 1.07 0.99
Russell Midcap Index 12.04 -3.22 4.17 7.28 13.12 7.55 8.97 NA NA
2.39 1.02 4.07 0.83 0.24 1.03 -0.16 NA NA
Parnassus Mid Cap Fund
Institutional Shares
14.63 -2.13 8.47 8.26 13.46 8.63 5.57 0.77 0.77
Russell Midcap Index 12.04 -3.22 4.17 7.28 13.12 7.55 0.74 NA NA
2.59 1.09 4.30 0.98 0.34 1.08 4.83 NA NA
Parnassus Asia Fund
Investor Shares
14.04 6.68 12.42 3.50 NA NA 3.83 2.50 1.25
MSCI AC Asia Pacific Index 6.10 2.73 6.30 1.95 5.55 3.19 2.18 NA NA
7.94 3.95 6.12 1.55 NA NA 1.65 NA NA
Parnassus Asia Fund
Institutional Shares
14.21 6.72 12.73 3.65 NA NA -3.42 1.10 0.94
MSCI AC Asia Pacific Index 6.10 2.73 6.30 1.95 5.55 3.19 -3.54 NA NA
8.11 3.99 6.43 1.70 NA NA 0.12 NA NA
Parnassus Fixed Income Fund
Investor Shares
2.24 -0.50 4.16 2.84 2.07 3.93 5.24 0.79 0.68
Barclays U.S. Aggregate Bond Index 2.11 -0.94 4.37 3.48 2.90 4.64 5.68 NA NA
0.13 0.44 -0.21 -0.64 -0.83 -0.71 -0.44 NA NA
Parnassus Fixed Income Fund
Institutional Shares
2.35 -0.51 4.36 2.92 2.11 3.95 2.82 0.50 0.49
Barclays U.S. Aggregate Bond Index 2.11 -0.94 4.37 3.48 2.90 4.64 2.81 NA NA
0.24 0.43 -0.01 -0.56 -0.79 -0.69 0.01 NA NA

1 All returns greater than one year are annualized.

2 The inception date for the Parnassus Fund is December 31, 1984. The inception date for the Parnassus Core Equity Fund and Parnassus Fixed Income Fund is August 31, 1992. The inception date for the Parnassus Mid Cap Fund and Parnassus Endeavor Fund is April 29, 2005. The inception date for the Institutional Shares of the Parnassus Core Equity Fund is April 28, 2006.The inception date for the Parnassus Asia Fund is April 30, 2013. The inception date for the Institutional Shares of the Parnassus Fund, Parnassus Endeavor Fund, Parnassus Mid Cap Fund, Parnassus Asia Fund and Parnassus Fixed Income Fund is April 30, 2015.

a As described in the Fund’s current prospectus dated May 1, 2016, Parnassus Investments has contractually agreed to limit total operating expenses to 0.99% of net assets for the Parnassus Fund— Investor Shares and to 0.94% of net assets for the Parnassus Fund—Institutional Shares, 0.87% of net assets for the Parnassus Core Equity Fund—Investor Shares, 0.78% of net assets for the Parnassus Core Equity Fund—Institutional Shares, 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, 1.25% of net assets for the Parnassus Asia Fund—Investor Shares, 1.22% of net assets for the Parnassus Asia 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, 2017, and may be continued indefinitely by the Adviser on a year‐to‐year basis.

Performance shown for the Parnassus Core Equity Fund- Institutional Shares prior to the inception date of April 28, 2006 reflects the performance of the Parnassus Core Equity Fund-Investor Shares. Performance shown for the Institutional Shares of the Parnassus Fund, Parnassus Endeavor Fund, Parnassus Mid Cap Fund, Parnassus Asia Fund and Parnassus Fixed Income Fund prior to the inception date of April 30, 2015 reflect the performance of the Investor Shares, and includes expenses that are not applicable to and are higher than those of the Institutional Shares.

Performance data quoted represent past performance and are no guarantee of future returns. Current performance may be lower or higher than the performance data quoted, and the most recent month-end performance is available on the Parnassus website (www.parnassus.com). Investment return and principal will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than their original principal cost. The S&P 500 Index, the Russell Midcap Index, the Russell 2000 Index and the MSCI AC Asia Pacific Index are widely recognized indexes of common stock prices. The Barclays U.S. Aggregate Bond Index is a widely recognized index of fixed-income security prices. An individual cannot invest directly in an index. An index reflects no deductions for fees, expenses or taxes. Returns shown for the Funds do not reflect the declaration of taxes a shareholder would pay on the fund distributions or the redemption of fund shares. Prior to March 31, 1998, the Parnassus Core Equity Fund was a balanced fund. Prior to May 1, 2004, the Parnassus Fund charged a sales load of a maximum of 3.5%, which is not reflected in the total return figures.

Common stock prices fluctuate based on changes to a company's financial condition and on overall market and economic conditions. Small- and mid-cap companies can be particularly sensitive to changing economic conditions and have fewer financial resources than large-cap companies. Investments in the Parnassus Asia Fund are subject to the above risks, plus 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. Investments in fixed-income securities are subject to interest rate risk, credit risk and market risk, each of which could have a negative impact on the value of the Fund's holdings.

The Parnassus Funds are underwritten and distributed by Parnassus Funds Distributor, a subsidiary of Parnassus Investments and a FINRA member.

Before investing, an investor should carefully consider the investment objectives, risks, charges and expenses of the fund and should carefully read the prospectus or summary prospectus, which contains this information. A prospectus or summary prospectus can be obtained on the website, www.parnassus.com, or by calling (800) 999-3505.

Daily Prices - NAV Historical Lookup
Fund Name Symbol Current Price
as of 12/2/2016
Previous Price
as of 12/1/2016
Price Change Percentage Change
Parnassus Fund Investor Shares PARNX $ 43.71 $ 43.74 $ (0.03) (0.07) %
Parnassus Fund Institutional Shares PFPRX $ 43.75 $ 43.78 $ (0.03) (0.07) %
Parnassus Core Equity Fund
Investor Shares
PRBLX $ 38.49 $ 38.39 $ 0.10 0.26 %
Parnassus Core Equity Fund
Institutional Shares
PRILX $ 38.58 $ 38.47 $ 0.11 0.29 %
Parnassus Endeavor Fund
Investor Shares
PARWX $ 32.35 $ 32.35 $ 0.00 0.00 %
Parnassus Endeavor Fund
Institutional Shares
PFPWX $ 32.41 $ 32.41 $ 0.00 0.00 %
Parnassus Mid Cap Fund
Investor Shares
PARMX $ 28.57 $ 28.47 $ 0.10 0.35 %
Parnassus Mid Cap Fund
Institutional Shares
PFPMX $ 28.63 $ 28.53 $ 0.10 0.35 %
Parnassus Asia Fund
Investor Shares
PAFSX $ 16.81 $ 16.76 $ 0.05 0.30 %
Parnassus Asia Fund
Institutional Shares
PFPSX $ 16.88 $ 16.84 $ 0.04 0.24 %
Parnassus Fixed Income Fund
Investor Shares
PRFIX $ 16.42 $ 16.37 $ 0.05 0.31 %
Parnassus Fixed Income Fund
Institutional Shares
PFPLX $ 16.41 $ 16.37 $ 0.04 0.24 %
Fund Name Commentary
Parnassus Fund PDF
Parnassus Core Equity Fund PDF
Parnassus Endeavor Fund PDF
Parnassus Mid Cap Fund PDF
Parnassus Asia Fund PDF
Parnassus Fixed Income Fund PDF

This commentary is the portfolio manager commentary as taken from the most recent of the Fund's Annual, Semiannual or Quarterly reports. Links to the full reports are available on the commentary pages.