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Sustainable, Responsible and Impact Mutual Fund and ETF Chart

Fund Profile:
Parnassus Mid Cap Growth Fund

Jump to: General Fund Information | Fund Institution Information | Account Minimums | Methodology | Proxy Voting Information | Specific Screening Information by Category | Performance Data


General Fund Information - [Return to Top]

Ticker: PARNX

Assets under management (AUM): $828.28M (in US$ millions) - See other performance data below

General Fund Type: Equity Mid-Small Cap

Specific Sizes or Types of Investments: Equity Mid Cap Growth

Financial Objective: Capital appreciation

Specific ESG Focus: --

To invest, call: (800) 999-3505

 


Institution Name:
Parnassus Investments

Mutual Funds Description: Parnassus Investments was founded by Jerome L. Dodson in San Francisco in 1984 as an investment management company offering responsible investment funds to the public. Parnassus offers highly active U.S. equity and fixed income strategies with long-term track records. The firm seeks to invest in businesses with increasingly relevant products or services, sustainable competitive advantages, quality management teams and ethical business practices. All the investment strategies consider ESG factors as part of the investment process.

Contact info:
1 Market Street, Suite 1600
San Francisco,CA 94105-1407
United States
Phone: (415) 778-2678
Fax: (415) 778-0228
Email: Joe.Sinha@parnassus.com
Web: http://www.parnassus.com (Opens in a new window)

 

Account Minimums - [Return to Top]

Minimum Account: $2,000

Minimum IRA: $500

 

Methodology - [Return to Top]

Screening Venue: In-house

Screening Party: Parnassus Investments

Screening Database Used: Parnassus Investments research analysts perform extensive research into the ESG-related risks and opportunities for each potential holding based on proprietary industry analysis as well as third party sources such as MSCI and Sustainalytics.

Screening Process: The Parnassus restricted list narrows the investment universe to companies that potentially meet the firm's quality thresholds and align with firm principles. The list is constructed by investment leaders, including the chief investment officer, director of research, director of ESG research and the head of stewardship. The restricted list is updated at least quarterly and approved by the chief investment officer. The restricted list comprises four components:
- Exclusionary Screens: Companies generating revenue of 10% or greater, as a percentage of the company's total revenue, from the manufacture or distribution of weapons or critical weaponry components and munitions; gambling operations or provision of gambling equipment; manufacture of alcohol products; manufacture of tobacco products; or the extraction, exploration, production or refining of fossil fuels
- Spirit of the Screens: Companies that do not explicitly exceed the 10% revenue threshold but are either close to the threshold or violate the intent of the screen
- Controversial Business Activities: Companies that operate in controversial industries that are not generally suitable for investment because they act contrary to the firm's principles, and/or present significant financial or reputational risks. Examples include for-profit education and private prisons
- Deficient environmental, social and governance (ESG) Practices: Companies that are operating their business contrary to the firm's principles or are involved in problematic ESG controversies. These companies may introduce unnecessary financial risk or result in reputational damage.


Companies in violation of controversial business activities or deficient ESG practices may be removed from the restricted list if they demonstrate meaningful improvement in the area(s) of concern or have otherwise met the firm's high ESG performance criteria, subject to approval by the chief investment officer.


The investment universe is screened for the four restricted list criteria. The screened universe becomes the investable universe for initial idea generation for the portfolios.

 

Proxy Voting Information - [Return to Top]

Proxy Voting Guidelines or Policies: Open external link in new window

Proxy Voting Records: Open external link in new window

 

Specific Screening Information by Category - [Return to Top]

Environment

  • Climate / Clean Technology: Combination of Positive and Restricted/Exclusionary Strategies
  • Pollution / Toxics: Restricted/Exclusionary Investment
  • Other Environmental: Combination of Positive and Restricted/Exclusionary Strategies

Social

  • Community Development: Restricted/Exclusionary Investment
  • Diversity & Equal Employment Opportunity: Combination of Positive and Restricted/Exclusionary Strategies
  • Human Rights: Combination of Positive and Restricted/Exclusionary Strategies
  • Labor Relations: Combination of Positive and Restricted/Exclusionary Strategies
  • Conflict Risk: Restricted/Exclusionary Investment

Governance

  • Board Issues: Combination of Positive and Restricted/Exclusionary Strategies
  • Executive Pay: Combination of Positive and Restricted/Exclusionary Strategies

Products

  • Alcohol: No Investment - Parnassus Investments does not invest in companies that derive significant revenue from the manufacture of alcohol products.
  • Animal Welfare: Combination of Positive and Restricted/Exclusionary Strategies
  • Defense/Weapons: No Investment - Parnassus Investments does not invest in companies that derive significant revenue from the manufacture of weapons.
  • Gambling: No Investment - Parnassus Investments does not invest in companies that derive significant revenue from involvement with gambling.
  • Tobacco: No Investment - Parnassus Investments does not invest in companies that derive significant revenue from the manufacture of tobacco products.

Other

  • Other/Qualitative: .
  • Shareholder Engagement - Shareholder Resolutions: Filed or co-filed with companies on environmental, social or governance issues
  • Shareholder Engagement - Private Dialogue: Conducted with companies on environmental, social or governance issues

Performance Data - [Return to Top]

Data provided by: Bloomberg logo - Information current as of December 31, 2023

Year-to-date rate of return: 35.6%

1-year rate of return: 35.6%

3-year rate of return: -0.47%

5-year rate of return: 10.49%

10-year rate of return: 8.45%

Previous year rate of return: -33.6%

Management fee: 0.62%

Expense ratio: 0.8%

Standard deviation: 20.92%

Benchmark used: Russell Mid Cap Growth

Disclaimer:

The gross expense ratio is 0.80% for the Parnassus Mid Cap Growth Fund--Investor Shares.

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

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. Current performance information to the most recent month-end is available on the Parnassus website (www.parnassus.com). Investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original principal cost.
Standardized performance data can be found here.


Before investing, an investor should carefully consider the investment objectives, risks, charges and expenses of a fund and should carefully read the prospectus or summary prospectus, which contains this and other information and can be found in our Literature and Forms section or by calling (800) 999-3505.


The Parnassus Funds are distributed by Parnassus Funds Distributor, LLC.


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